Global Infrastructure SherpaWhite Lodging acquires Sheraton Raleigh Hotel for $27.75 million
White Lodging acquired the 353-room Sheraton Raleigh Hotel in Raleigh, North Carolina, for a reported $27.75 million. The property will be converted to a Westin after a comprehensive renovation starting in early 2027, which will include elevated guest rooms, public area enhancements, added meeting space, and reimagined food and beverage concepts. White Lodging will also manage the newly acquired hotel, marking its first acquisition in Raleigh. The seller was Raleigh Hotel XXIX Owner LLC, which lists the Maryland address of PM Hotel Group, with PM Hotel Group Chairman Dave Pollin signing the deed. This investment supports White Lodging's growth strategy, which includes premium urban ground-up development, strategic acquisitions, and select third-party management agreements.
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- White Lodging acquired the Sheraton Raleigh Hotel.
- The acquisition was for $27.75 million.
- The hotel has 353 rooms.
- The property is located in Raleigh, North Carolina.
- Renovation and conversion to a Westin will begin in early 2027.
Source Intelligence
The property will be converted to a Westin after a comprehensive renovation starting in early 2027. The renovation will include elevated guest rooms, public area enhancements, added meeting space, and reimagined food and beverage concepts. White Lodging will also manage the newly acquired hotel. This investment supports White Lodging's growth strategy, which includes premium urban ground-up development, strategic acquisitions, and select third-party management agreements. This acquisition is White Lodging’s first in Raleigh. As of September 2025, the hotel's appraised value was $51 million, according to loan documents. The hotel's loan transferred to special servicing in August 2025 due to imminent monetary default.
"White Lodging has acquired the Sheraton in Raleigh, North Carolina."
"White Lodging has acquired the Sheraton in Raleigh, North Carolina."
"According to The Business Journal, the seller is reported to be Raleigh Hotel XXIX Owner LLC"
"which lists the Maryland address of PM Hotel Group, according to North Carolina Secretary of State records."
"Buccini Pollin Group acquired the property from Oaktree Capital Management and affiliates of Northview Hotel Group for a reported $48 million in October 2015"
"Buccini Pollin Group acquired the property from Oaktree Capital Management and affiliates of Northview Hotel Group for a reported $48 million in October 2015"
"Buccini Pollin Group acquired the property from Oaktree Capital Management and affiliates of Northview Hotel Group for a reported $48 million in October 2015"
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