Parx Casino Buys The Inn at Fox Chase
Parx Casino has announced the purchase of The Inn at Fox Chase, the hotel located at 3327 Street Road, just over a half-mile from the casino and racetrack complex. The acquisition, made by Parx’s parent company Greenwood Racing Inc., marks a significant expansion of the casino’s footprint. The purchase price has not been made public.
This comes about a year after Innovative Hospitality Management (IHM) of New Hope bought The Inn from GHM Properties for $13.75 million. The company had plans to focus on attracting corporate and event business to the property, taking advantage of its proximity to Parx Casino and Racing and the recent renovations. While others thought the IHM would bide their time and make an offer to Parx at a later date.
Since the casino opening in 2006, Parx has offered its loyalty members reduced nightly rates at the Inn at Fox Chase.
Extensive Renovations Planned
The 167-room hotel will undergo extensive renovations over the next six to twelve months, including upgrades to guest rooms and public areas. Notably, the top floor will be transformed into 16 all-new suites. Despite the extensive work, the hotel will remain open during the renovations, and current reservations and group bookings will be honored.
“We are excited about the opportunity to enhance the guest experience at The Inn at Fox Chase and integrate it into the Parx Casino complex,” said a Greenwood Racing spokesperson.
The renovation project aims to modernize the facilities and provide a seamless, high-quality experience for both casino and hotel guests.
Employee Retention and Rebranding
Current employees of The Inn at Fox Chase will have the opportunity to remain employed during and after the transition to the new ownership. The hotel will also be rebranded upon completion of the renovations, although the new name has not yet been disclosed.
Strategic Expansion
This purchase aligns with Parx Casino’s broader strategy to expand and improve its offerings on Street Road, further cementing its status as a premier entertainment destination in Bensalem. The proximity of the hotel to the casino is expected to attract more visitors and provide a convenient lodging option for guests.
The purchase also officially halts the casino’s long-awaited plans for a 100 million dollar build-out of their own 300-room hotel on casino grounds.
Parx generated a gross gaming revenue of $588.2 million on its casino floor last year, which leads the state casino industry.