Starwood close Fort Lauderdale sale

Starwood has announced the completion of the sale of the 250-room Sheraton Fort Lauderdale Airport, Fort Lauderdale, FL to HEI Hospitality for $31.95 Million.HEI plans to invest in a complete renovation of the hotel over the next two years and will begin with the meeting space and public areas. The hotel will continue to be flagged as a Sheraton under a long-term license agreement. Starwood expects to use proceeds from the sale for share repurchase and for general corporate purposes.
Located between Miami and the Palm Beaches, the Sheraton Fort Lauderdale Airport hotel is just minutes from Ft. Lauderdale/Hollywood International Airport, Port Everglades, the downtown business district of Ft. Lauderdale and the beautiful sandy beaches.
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