Ultima Hospitality acquires Sheraton outside Boston

Chicago-based hotel investment and managment company Ultima Hospitality has announced the closing and acquisition of the Sheraton Needham Hotel in Needham, Mass. The 247-room hotel recently completed an extensive renovation of the guestrooms and public spaces. The purchase price was not disclosed.

“We were very excited for the opportunity to acquire this asset from such a distinguished owner as Host Hotels & Resorts, as well as continue to broaden our relationship with Starwood Hotels & Resorts, with this being our sixth Starwood branded hotel.” says Nir Liebling, CIO of Ultima Hospitality. “The future growth of the Needham market with Trip Advisor’s new headquarters opening soon and the future planned development along the Route 128 Tech Corridor should help sustain long-term demand growth for the Hotel.”

The newly renovated guestrooms feature signature Sheraton Sweet Sleeper beds with plush mattresses and soft linens, complimentary Wi-Fi, individual climate control and a 37-inch LCD television. The Sheraton Needham Hotel boasts a fully equipped, state-of-the-art fitness center complete with a year-round heated indoor swimming pool. Located on the lobby level, Link Café and Bar, offers classic American cuisine for breakfast, lunch and dinner with a Sheraton Social Hour available.