Kentucky-based hotel owner and operator Columbia Sussex sold a 344-room Hilton in Woburn, Ma., for $32.1 million, according to a Middlesex County deed.
Boston-based real estate company The Davis Cos. purchased the hotel, and is planning to invest $15 million into renovating it. The property was acquired in partnership with The Rubicon Cos. The renovation is expected to begin late 2016. Pyramid Hotel Group will manage the hotel.
“At the hotel, we see a spectacular renovation opportunity to improve the guest experience for travelers as well as local social functions and meetings,” Marc Gordon, leader of The Rubicon Cos., said in a statement.