Woodbury Sheraton sold for $13.4 million
The Woodbury Sheraton Hotel has been sold for $13.4 million, according to new management officials.
Schulte Hospitality Group, a company based out of Louisville, Ky., purchased the property from the lender who took over the hotel after former owner Jerry Trooien went into bankruptcy.
"That hotel has a lot of potential as far as future revenues," said Martin Hanson, vice president of hotel performance for Schulte Hospitality Group. "It was a great opportunity for us."