City backs Sheraton deal to boost conventions
After the past year of drama over Lowe's and incentives it looks like the Sheraton has backed off the lawsuit and will actually get incentives to upgrade and possibly expand by 300 rooms in the future. With the convention center renovated and Lowe's across the way it's good it will also get an upgrade and not look so outdated, which I thought should have been the case all along.
"Downtown’s 36-year-old convention center hotel looks outdated now, just wait until it can be viewed alongside a modernized Renasant Convention Center and a new Loews Hotel.
It’s not a comparison city and hospitality industry officials want conventioneers to make, so they’re backing a tax break and a land transfer to entice Sheraton’s owners to spruce up and possibly expand the hotel.
“The big thing is, you’re going to have a brand new, 21st century looking convention center, and if you don’t do an upgrade of the Sheraton, you’ll have a dated hotel right next door, and you’ll have a brand new, modern hotel (Loews) down the street,” said city chief operating officer Doug McGowen. “Upgrading the existing hotel is important because you want people to feel equally comfortable with either convention center hotel.”
"The second part of Sheraton’s plan, a 300-room expansion of the 600-room hotel, hinges on whether the company sees enough room demand in the market after Loews opens a 500-room property in a couple years, McGowen said."
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