Tutor Perini Corp. announced on Monday that it has won a $239 million contract to build a 755-room, dual-flagged W and Element hotel project in Philadelphia. The Sylmar construction company will work for Chestlen Development, a Philadelphia company developing the hotels, which will share a 770,000-square-foot, 51-story tower. Starwood Hotels & Resorts Worldwide Inc. in Stamford, Conn. operates both chains, with the W aimed at young, hip and affluent customers while Element is branded as an environmentally sensitive lodging. The latter chain features recycling building materials and energy- and water-efficient fixtures and plumbing. Element Philadelphia will be the larger of the two, with 460 rooms, and W Philadelphia will have 295. There will be three levels of below-grade parking. Construction began in April with an estimated completion date of early 2018. The contract value was included as part of Tutor Perini’s already reported first-quarter backlog. Shares closed down 20 cents, or nearly 1 point, to $23.55 on the New York Stock Exchange.
