Greensboro, N.C.-based owner/operator Daly Seven has acquired the 105-room Four Points by Sheraton Raleigh Durham Airport in Morrisville.
The deal was brokered by Alchemy Real Estate Advisors, which represented the seller—OHM Hotels RTP. The North Carolina hotel—less than three miles from Raleigh-Durham International Airport and near Research Triangle Park—targets corporate, group and transient travelers.
The property includes approximately 4,000 square feet of meeting space, an on-site restaurant and bar, complimentary airport shuttle service and is located near major employers including Lenovo, IBM, Cisco and SAS Institute. The hotel will continue operating under the Four Points by Sheraton brand following the acquisition.
“This was a strategic disposition by the seller who developed the Four Points in 2010 and established the hotel to be one of the top-performing properties in the airport market,” Ros Mallory, SVP at Alchemy Real Estate Advisors, said in a statement. “It was also a strategic acquisition for the buyer, who is a leading owner/operator in the market, and the Four Points allows them to grow efficiently and expand on an already impressive hotel portfolio.”