The Sheraton Needham Hotel To Reopen Under New Owner On May 1

NEEDHAM, MA — The now-closed Sheraton Hotel in Needham is set to reopen May 1 with new owners, according to the Boston Real Estate Times.

The hotel has 247 guest rooms and is right off the I-95. A Paceline Equity Partner affiliate will be taking over — Paceline is a private equity firm based in Dallas.

“While we have taken a conservative view of the recovery timeline for the Greater Boston area and the broader U.S. hospitality industry, this investment is supported by Paceline’s rigorous underwriting process and deep experience navigating prior hospitality cycles, and we will continue to identify attractive investment opportunities in the commercial real estate sector," the CEO, Sam Loughlin, told Boston Real Estate Times.

The hotel is down the road from the Homewood Suites, Residence Inn, and a variety of eateries, including the Biltmore Bar and Grille, the New England Soup Factory and Chipotle.