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Philly’s big new hotels are facing the coronavirus economy from under a mountain of debt

The dual-branded W and Element hotel tower is the largest among at least four major hotel projects throughout the city that collectively owe outside lenders more than $280 million in construction debt.

The construction site of the W and Element hotel tower at 1441 Chestnut in Center City. The opening has been delayed by two months due to the coronavirus pandemic.
The construction site of the W and Element hotel tower at 1441 Chestnut in Center City. The opening has been delayed by two months due to the coronavirus pandemic.Read moreHEATHER KHALIFA / Staff Photographer
    by Jacob Adelman
    Updated 
    Published