Business Briefs

Downtown Raleigh Sheraton sold

Posted October 4, 2012

— Two investment groups have purchased the Sheraton Raleigh Hotel, located on Fayetteville Street near the downtown convention center, for an undisclosed sum.

A subsidiary of a fund managed by Oaktree Capital Management and affiliates of Northview Hotel Group said in a statement that they plan to upgrade the hotel’s lobby, meeting space, restaurant, façade, guestrooms, concierge lounge, and fitness center.

The Sheraton has 353 guestrooms, a 4,600-square-foot restaurant with outdoor dining and 18,000 square feet of flexible meeting space.

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  • Cleanup on Aisle Cool Oct 4, 4:38 p.m.

    Good. I hope they fire the manager. He was a real piece of work.