P3 Properties plans to rebrand the 21-story, 427-room hotel at 2 Meadowlands Plaza as World of Blue while investing in a multimillion-dollar update of the property. — Renderings courtesy: P3
By Joshua Burd
P3 Properties has acquired a well-known hotel in East Rutherford with plans to revitalize the 21-story, 427-room building and reintroduce it under a new brand.
Located at 2 Meadowlands Plaza, the former Sheraton and Hilton property is a familiar sight to drivers on Route 3 and visitors to the Meadowlands Sports Complex. It’s now set for a sweeping, multimillion-dollar update after P3 closed on the site this week, including structural and aesthetic upgrades such as major improvements to HVAC systems, elevators and building infrastructure as well as a comprehensive modernization of the interiors.
Equally notable, the hotel will become known as World of Blue as P3 rebrands it to align with several of its other New Jersey properties and services. All of which comes ahead of this summer’s FIFA Men’s World Cup — the world’s most popular sporting event — which will play eight matches including the final at MetLife Stadium.
“This is one of those locations that, if you live nearby, you just understand,” said Harvey Rosenblatt, founder of Clifton-based P3 Properties. “The proximity to MetLife Stadium, the American Dream complex, Newark Liberty International Airport — it’s a powerful convergence point. When the opportunity came our way, it immediately stood out.”
SLIDESHOW: World of Blue
Built in 1986 and renovated in 2019, the hotel is less than a half-mile from the New Jersey Turnpike and currently has 30,000 square feet of conference and meeting space and amenities. It also has a five-acre surface parking lot and is adjacent to the well-known Metropolitan Center office building, adding to its appeal as a business destination.
P3 noted that the facility, which sold for an undisclosed price, has operated under several flags over the past decade and most recently was known as the Park Hotel. As World of Blue, the building will tie into properties such as the MCC Blue office campus in Parsippany and P3’s affiliated Blue Property Management group, reflecting a concept of “depth, openness and possibility” and “an environment that feels expansive and accessible, something that’s meant to be experienced by the public.”
The firm’s plans include rethinking the traditional hotel model, with a more flexible, design-forward approach to accommodations and common areas, the company said. While details are still being finalized, Rosenblatt said the concept draws inspiration from modern, curated hospitality experiences rather than a conventional flag-driven hotel structure.
“We’re known for identifying underperforming assets and unlocking their next chapter,” he said. “This building has great bones, scale and visibility. Our goal is to modernize it, elevate the experience and make it relevant again — not just as a place to stay, but as a destination.”
The deal and coming renovation were welcome news to Jim Kirkos, the longtime head of Meadowlands Chamber and an influential business leader in the region.
“The Meadowlands welcomes P3 and its World of Blue hotel concept with open arms!” said Kirkos, the chamber’s CEO and president. “That location in East Rutherford, directly across from MetLife Stadium, has always been an important hotel property for our destination. P3’s plan to elevate the facility and create exciting new hospitality spaces in and around the property will enhance our ability to attract new visitors and groups to the Meadowlands while also providing the highest level of hospitality service. World of Blue will help make the region even more compelling to visit!”
P3 plans to manage the property through an affiliated hospitality platform and expects to begin visible upgrades in early 2026, Rosenblatt said.
“For us, this is about stewardship and creativity,” he said. “We’re not just buying a building. We’re building a brand, an experience and a place that reflects where the Meadowlands is headed.”
That will include the dozens of high-profile events that MetLife Stadium hosts annually, which this year will be punctuated by the World Cup starting in mid-June.
“This location is going to be front and center for a lot of global activity,” Rosenblatt said. “We see that as an incredible opportunity.”
