US-based Alena Hospitality is acquiring the Sheraton Orlando Downtown in Florida and plans to offer new jobs to the workers expected to lose their current jobs at the hotel.

Turnberry Associates, which is the current owner of 290-room downtown Sheraton, plans to lay off all 140 of the hotel’s employees on or around 18 February 2014.

Alena Hospitality chairman Nik Patel said the group intends to offer the displaced workers positions at some of its other properties.

Patel noted that the group will spend several million dollars to renovate the property and rebrand it as a Renaissance by Marriott.

"These improvements will give better accommodations to those travelling to downtown Orlando. We are also adding more meeting space to accommodate the needs of the businesses in the city," added Patel.

The group also owns the DoubleTree by Hilton near the University of Central Florida and the currently closed Orlando Vista Hotel near Walt Disney World in Central Florida.

Orlando Vista Hotel is expected to re-open in early 2014 as a Crowne Plaza hotel, according to Alena.

In addition, Alena owns hotels in Saddlebrook, New Jersey and Peoria, Illinois.