Pyramid Buys Three Starwood Assets; Sets Renovation Plan
BOSTON, MA, January 31, 2006. Pyramid Advisors has been fairly quiet on the acquisition front the past several months but came roaring back last week by buying several Starwood Hotels & Resorts Worldwide, Inc. assets, including the Sheraton Suites in San Diego, the Sheraton Hotel in Framingham, MA, and the Westin Embassy Row in Washington.
The total price for the deal was $146 million.
According to a spokesman for the company, Pyramid expects that it will spend north of $20 million on renovations at all three properties.