The City hasn’t officially bought the Sheraton yet but it’s already repaid $4M on the bonds
Memphis City Council members expressed frustration over another delay in the final sale of the 600-room Downtown Sheraton Hotel. (Sophia/Surrett/The Daily Memphian)
By the end of October, the City of Memphis will have spent $8 million toward repaying bonds for the Downtown Sheraton Memphis, a hotel it has not yet bought.
Memphis City Council members expressed frustration Tuesday, Oct. 7, over another delay in the final sale of the 600-room hotel. The deal is scheduled to close Wednesday, Nov. 5.
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Sheraton Memphis Downtown Hotel city of Memphis Memphis Mayor Paul Young Subscriber OnlyIt’s GivingTuesday week! Will you join the celebration?
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Sophia Surrett
Sophia Surrett is a University of Alabama graduate, where she received her B.A. in news media and M.A. in journalism and media studies. She covers small business, nonprofits, restaurant real estate, hospitality and tourism, manufacturing, and transportation and logistics.
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