Affiliates purchased the Latham Hotel in downtown Philadelphia Rittenhouse Square. An architectural and historic landmark, The Latham Hotel was constructed as a 14-story apartment house in 1907, on the original site of the home of William Bucknell, a world-renowned Philanthropist and the founder of Bucknell University. The building operated as such until the late 1960s, when a small group of wealthy businessmen converted the apartment house into The Latham Hotel at a time when many investors were converting hotels into condominiums. In 1970, The Latham Hotel was first opened to the public. It quickly earned a reputation as one of the finest hotels in America for business travelers. The European-style boutique hotel offered luxury appointments along with all the most modern conveniences of the day. It is recognized by the National Register of Historic places. The hotel was completely renovated in 2011/2012.