was promoting the creation of enough hotel space to host a political convention in 2000. Conversion into a hotel began in 1998, and the Loews Philadelphia Hotel opened in April 2000, in time for the 2000 Republican National Convention. History Construction In the 1920s, banks such as Girard Trust Company and other businesses such as Wanamaker's and Sun Oil Company were expanding by building skyscrapers in Center City, Philadelphia. To replace their Walnut Street headquarters, the Philadelphia Saving Fund Society (PSFS) began planning a new building on Market Street at the former location of the William Penn Charter School. Under direction of bank President James M. Wilcox, they began seeking designs for a new building. Architects William Lescaze and George Howe was accepted by the board of directors in November 1930. During the 1920s, Howe worked for the firm Mellor, Meigs and Howe where he designed two Beaux-Arts styled bank branches for PSFS. In 1929, Howe left the firm and partnered with Lescaze. Together, with influence from Wilcox, they designed the new PSFS Building. Construction was contracted to the George A. Fuller Company. Completed in 1932 at a cost of $8 million, the PSFS Building was a modern departure from traditional bank architecture and other Philadelphia skyscrapers. Designed in the International style, the building was among the first skyscrapers of its type built in the United States. Part of the modern amenities installed to attract tenants included radio reception devices installed in each of the building's offices by the RCA Victor Company. The Carrier Engineering Corporation was contracted to install air conditioning inside the building, making it only the second air-conditioned high-rise in the United States. PSFS use The skyscraper was completed during the Great Depression, and the neon initials of the Philadelphia Saving Fund Society were kept lit throughout the economic troubles to create a symbol of hope and consistency for the city. In the early part of the Depression the initials were jokingly said to mean "Philadelphia Slowly Faces Starvation." The Philadelphia Saving Fund Society occupied of the of office space in the building. The remaining office space was available for rent by other tenants. One notable tenant was Towers Perrin, which established itself in the PSFS Building in 1934. Over the years, the building with its sign became a Philadelphia landmark. The PSFS Building was listed as a National Historic Landmark in 1976 because of its architectural