After more than a year of negotiations, the City of Memphis has closed on the Sheraton
The Sheraton Hotel with the Renasant Convention Center in the background Sep. 6, 2024. (Patrick Lantrip/The Daily Memphian)
The City of Memphis bought the 590-room Sheraton Memphis Downtown Hotel for $22 million on Wednesday, Nov. 5, culminating more than a year of negotiations.
Nonprofit 250 North Main LLC, a subsidiary of the DMC’s Center City Development Corp., will hold and oversee the Sheraton on behalf of the city.
“This purchase secures the Sheraton as a long-term civic asset,” Memphis Mayor Paul Young said. “It strengthens our convention district, supports local businesses, and keeps our downtown growing as an engine of opportunity for our entire city.”
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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 and manufacturing.
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