BOSTON—Ultima Hospitality has acquired the Sheraton Needham Hotel in Needham, MA, which continues the company’s trend of identifying strong performing assets in markets poised for high-growth over the long-term. The 247-room hotel recently completed an extensive renovation.
Situated just miles from downtown Boston and Cambridge, the Sheraton Needham Hotel is within close proximity to famed attractions including Boston Common, Boston College, Freedom Trail, Faneuil Hall, Fenway Park and the shops on Newbury Street. The prime location of the Sheraton Needham Hotel also provides access to Waltham and the Route 128 Tech Corridor.
Ultima Hospitality remains positive on the growth opportunities in Greater Boston and this acquisition marks the third in the market for Ultima, having already acquired the Sheraton Framingham and the Courtyard Marlborough in recent years.
“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.” said Nir Liebling, chief investment officer 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 WiFi, individual climate control and a 37-in. LCD television. The Sheraton Needham Hotel offers a fully equipped, 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.