Hotel Online
News for the Hospitality Executive


 
Marriott Family Trust Acquires The Sheraton Palm Beach at CityPlace Hotel; Hotel Will Undergo
Fourth Name Change in 21 Years
The Palm Beach Post, Fla.
Knight Ridder/Tribune Business News 

Jan. 9, 2003 -  WEST PALM BEACH, Fla.--The Sheraton at CityPlace Hotel has been sold to the family behind the Marriott Hotel chain in a deal that is expected to provide a big boost to the county's soon-to-open convention center. 

"Marriott absolutely wants our business," Ken Foster, convention center general manager, told members of the Economic Forum, a business group, Wednesday. "They're coming here because of the convention center." 

Sheraton general manager Terry Hitt confirmed the deal, adding that Marriott will spend at least $15 million to make the dated 349-room hotel more trendy and upscale. 

Hitt said the renovation will include upgrading guest rooms, the restaurant and bar. 

He said Marriott might also move the hotel lobby entrance to face the busier Okeechobee Boulevard and looking toward the convention center, from its current spot tucked away on Clearwater Park Road. 

The renovation should be complete by the fall, around the time of the convention center's planned opening. 

The Marriott signs are expected to go up April 1, when Marriott International Inc. (NYSE: MAR, $33.55) takes over management, Hitt said. 

Marriott International, the world's largest hotel chain, also is considered one of the best. 

The company already has full-service, upscale hotels in Palm Beach Gardens and in Boca Raton. 

It's at least the fourth name change for the 21-year-old Sheraton, which has been its moniker since 1995. 

The latest sale closed Dec. 31, but a purchase price could not be obtained at press time. A Marriott official declined to comment on the deal. 

The Sheraton's sale to the Marriott Family Trust is a big relief for tourism officials. 

They've been unable to book large, hotel-filling conventions because of the lack of a nearby hotel, so only smaller events have been arranged. 

A hotel was supposed to have been built next to the convention center by developers of nearby CityPlace. 

But CityPlace officials have stalled, citing an inability to obtain financing in a slow economy. 

City officials say they still want the convention center hotel built. 

But for now, everyone's pleased by the Marriott deal. 

"It's a great addition. Marriott has such a high quality standard," said Charles Lehmann, director of the county's Tourist Development Council. 

-----To see more of The Palm Beach Post, or to subscribe to the newspaper, go to http://www.gopbi.com/partners/pbpost 

(c) 2003, The Palm Beach Post, Fla. Distributed by Knight Ridder/Tribune Business News. MAR, HOT, 


advertisement

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch
Home | Welcome| Hospitality News | Classifieds| Catalogs& Pricing |
Viewpoint Forum | Ideas&Trends | Press Releases
Please contact Hotel.Onlinewith your comments and suggestions.