MEMPHIS, Tenn. — City of Memphis officials are hoping to close on the Sheraton Memphis Downtown Hotel by the middle of September.
During a Aug. 5 meeting, Memphis City Council members questioned why the transaction of the hotel was taking so long, noting the project should have been completed several months prior.
“I’ve had questions from my constituents since Budget about how we can’t afford to raise union wages or get people up to $40,000 a year, but we can afford to buy a hotel for $30 million, and have we actually even bought it,” City councilwoman Jerri Green said. “I can’t answer those questions.”…