Sunstone Hotel Investors Inc. said Thursday that it has completed the sale of the 362-room Sheraton in Salt Lake City for $33.3 million to affiliates of Driftwood Hospitality.
Sunstone said it estimates that the property would have required about $15 million in renovation costs in 2008 to comply with Sheraton brand standards.
Sunstone has interests in 46 hotels, including Marriott hotels in Salt Lake City, Provo and Park City.