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July 26th, 2011 - OKC Business Staff

Management company takes over downtown Sheraton



Raleigh-Durham, N.C.-based hotel management company Concord Hospitality has signed a contract to manage the 395-room Sheraton Oklahoma City, One N. Broadway, company officials reported July 25.

The company, which operates a third-party management portfolio, has more than 10,000 guest rooms in 80 hotels spread across 22 states and two Canadian provinces. The company website shows the company also manages the Courtyard by Marriott Tulsa Central Hotel.

“The Sheraton Oklahoma City is a valuable addition to our full-service portfolio, and we’re honored that Nazarian Enterprises has selected Concord to manage this outstanding asset,” said Mark G. Laport, president and CEO of Concord in a prepared statement. “The Sheraton has been a prominent hotel in the market and we are confident that with our operational expertise and ability to drive top line revenues, coupled with our sales and revenue management capabilities it will continue to gain a competitive advantage in Oklahoma City.”

The 15-story hotel was built in 1975, and has carried other hotel flags including Westin. It features 28,000 square feet of meeting space under one roof, a 24-hour business center, fitness center, outdoor pool and sundeck, and the 1889 Land Run Café.

In 2007, the hotel sold to American Property Investors OKC LLC for $38.75 million, according to county records.

 
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