Memphis purchases downtown Sheraton for $22M

The city of Memphis has officially purchased the downtown Sheraton Hotel for $22 million. The 600-room hotel is connected to the Renasant Convention Center by a skywalk and has been seen by many as a key to attracting more conventions to the city. However, many believe the 1978 hotel needs renovations and updates. This comes on the heels of the city purchasing and renovating the Renasant Convention Center for $200 million in 2021. The proposed remodel of the Sheraton is expected to cost around $250 million.