March 18–EATONTOWN — The Sheraton Eatontown Hotel is for sale, officials said Tuesday.
Pacific Concord Investment Corp. said the Sheraton also will end its affiliation with Starwood Hotels and change its name on May 10. It will operate as the Pacific Concord Hotel at Eatontown until it finds a buyer, the company said.
“It’s a simple name change,” Samantha Johnson, director of sales, said. “It’s operating exactly the same as it is.”
The Route 35 hotel has 208 rooms, a restaurant, ballroom and meeting space. It opened in 1988. And its current owners have operated the hotel since 1994.
The Sheraton isn’t alone. Pacific Concord plans to sell its two other hotels, too — SpringHill Suites in Port St. Lucie, Florida, and the Richmond Airport Hotel in Virginia, which formerly was The DoubleTree, Johnson said.
The sale of the Sheraton comes as the owners’ license agreement with Starwood Hotels ends. In a letter to customers, the hotel’s management team said it isn’t clear if a new owner will renew the brand with Starwood. The hotel will operate independently beginning in May.
It told customers the change won’t impact existing contracts.
The Sheraton has served an important purpose at the Shore by offering lots of amenities, tourism officials said. The region has plenty of bed and breakfasts. It has seen an influx of mid-priced hotels that don’t have restaurants. But there are only a handful of hotels that can serve tourists, business travelers and wedding guests at once, said Robert Hilton, executive director of the Jersey Shore Convention and Visitors Bureau.
Among the competitors: Molly Pitcher Inn and The Oyster Point Hotel in Red Bank; Ocean Place Resort & Spa in Long Branch; and The Berkeley Oceanfront Hotel in Asbury Park.
Hilton said he hopes the new buyer will operate it as a name-brand hotel.
“It’s a really good, strategically placed property,” Hilton said.
Michael L. Diamond; 732-643-4038; [email protected]
