Renovations in Works at Raleigh, N.C., Sheraton Following Sale

The Sheraton hotel in downtown Raleigh, N.C., has new owners who intend to make significant renovations to the property, including its 18,000 sq. ft. of meeting space. Through a joint venture, Oaktree Capital Management of Los Angeles and Northview Hotel Group of Westport, Conn., purchased the 353-room Sheraton Raleigh Hotel for more than $20 million this week. Northview’s management arm will operate the hotel and develop a strategic plan that also will include upgrades to the hotel’s lobby, facade, guest rooms, restaurant space, lounge and fitness center. hotelnewsresource.com