The 264-suite former Sheraton in San Diego was sold to Marriott Ownership Resorts for $50 million.
Marriott plans to convert the property into a timeshare project, which may be structured as a condominium. The seller of the property was NOIRO West, also known as Sheraton Suites San Diego.
In 2013, the property was rebranded as the Declan Suites San Diego and transferred to new management. Declan announced plans to remodel the hotel's two-room suites, lobby, restaurant and bar last year.