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Sheraton at Pittsburgh’s Station Square sold

Forest City Enterprises, Cleveland, Ohio, has completed the sale of the Sheraton Station Square in Pittsburgh, Pennsylvania, to a joint venture led by Pyramid Hotel Group, Boston, and including an affiliate of Glenmont Capital Management, New York City, for US$61 million.

Pyramid will operate the hotel under a long-term Sheraton franchise agreement with Starwood Hotels & Resorts Worldwide. The 399-room hotel is adjacent to the Station Square retail/entertainment complex in downtown Pittsburgh and features more than 30,000 sq ft (2,787 sq m) of indoor meeting space.

“Pittsburgh is a highly stable lodging market, and the Sheraton Station Square offers an unmatched guest experience within the Station Square mixed-use development,” said Jim Dina, chief operating officer of Pyramid Hotel Group. “The many planned renovations to the hotel promise to assist our dedicated staff in delivering a superior level of service for residents and leisure, corporate and group travelers.”

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