>Sheraton Universal Hotel is put on the market

Share Button

>The long-troubled Sheraton Universal Hotel is officially on the market now, real estate brokers said Wednesday.

The 20-story tower in Universal City is one of the best-known hostelries in Southern California, but it has been in financial trouble since the recession brought the hotel industry to its knees. Los Angeles-based real estate developer and landlord Lowe Enterprises paid $122 million for the 451-room hotel at the top of the market in 2007 and spent $25 million on improvements to the guest rooms and public spaces.

Read More:

About the Author