HAGERSTOWN - Longtime local philanthropist Nicholas Giannaris sold Four Points By Sheraton Hagerstown to Watchwood LLC for $7.4 million this month, according to documents from the Donohoe Hotel Advisory Group/Corfac International, the firm that brokered the deal.
Giannaris, known by some as "Saint Nicholas," was president and owner of the hotel, where he hosted "Christmas with Nick" for 17 years. He ended the annual holiday dinner after the 2002 event because of his failing health due to Parkinson's disease.
Giannaris and his wife, Tina, took on the hotel in 1980.
Giannaris also is co-owner of Nick's Airport Inn, which he opened after buying the restaurant property in 1961.
There are no plans to sell the popular restaurant, said Nick Giannaris' son, Paul Giannaris.
The Sheraton's new owners plan to renovate its public areas and upgrade the restaurant and lounge, and Guests Inc. will professionally manage the hotel, according to the brokerage firm.