Sheraton Iowa City Hotel Commences $11 M-Plus Renovation with Wall Breaking Ceremony

Mayor Regenia Bailey, CVB President Josh Schamberger in Attendance

MEMPHIS, TN—The 234-room Sheraton Iowa City Hotel (top right photo) has begun an $11 million-plus renovation, expected to be completed by mid-August 2009.

To mark the occasion, a number of local dignitaries attending the event, including Mayor Regenia Bailey, (middle right photo), CVB President Josh Schamberger and City Manager Michael Lombardo, participated in a ceremonial wall breaking.

Davidson Hotel Company, one of the nation’s largest independent hotel management companies, operates the hotel on behalf of joint venture owners, RockBridge Capital and Davidson.

“When we acquired the Sheraton in early 2008, it was clear that the property was not living up to its potential as a high-quality hotel for visitors to Iowa City and the University of Iowa.

"Nor did it possess the physical condition that would allow it to become an economic catalyst for the Pedestrian Mall and downtown area businesses,” said John A. Belden, (middle left photo) Davidson’s president and chief executive officer.

“By working with civic and business leaders in the community, however, we were able to craft an extensive renovation plan that would completely transform the hotel.

" Despite the extraordinary economic downturn gripping our country, I am proud to say that our ownership group has fulfilled its commitment to the city, and with this wallbreaking ceremony, we mark a new beginning for the Sheraton Iowa City.”

Located at 210 S Dubuque Street in Iowa City, the nine-story hotel features 13,000 square feet of meeting space (including 2,000 square feet of additional space being added to the lobby level).

Contacts:

Cyndi Norwood, Davidson Hotel Company, (901) 821-4155, cnorwood@davidsonhotels.com

Jerry Daly, Chris Daly (media), Daly Gray Public Relations, (703) 435-6293, jerry@dalygray.com