Business & Tech
Novi's Sheraton Sold
The new owners plan to pump more than $5 million in renovations to the hotel.
NOVI, MI — One of Novi’s most recognizable landmarks has been sold. The Sheraton Detroit Novi Hotel has been purchased by Florida-based Driftwood Acquisitions & Developments, according to a Crain’s Detroit Business report.
Terms of the deal were not disclosed. Driftwood plans to do a $5.2 million renovation of the property, which it bought from VI-LCP Novi Owner LLC, Crain’s reported.
"It's a building with great bones, and with added love and attention to detail we can polish it to truly make it shine," CEO Carlos Rodriguez Sr. told the publication via email. He did not specify when renovations would begin.
For more, got to Crain’s Detroit
Photo by Morry Gash / AP
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