X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IOWA CITY, IA-The Sheraton Iowa City Hotel, located at 210 S Dubuque St. here, has just begun an $11M redevelopment process. The 234-room hotel was purchased by RockBridge Capital and Davidson Hotel Co. in March 2008 for an undisclosed price.

“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 downtown area businesses,” says John Belden, Davidson’s president and CEO. “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.”

Under previous management the hotel was falling into disrepair. “Performance had steadily declined for four years prior to RockBridge/Davidson ownership,” a spokesperson for the JV tells GlobeSt.com. “No meaningful capital improvements had been done in the past decade. The hotel looked worn and tired after years of no capital infusion.”

The $11 million renovation will include new guest furnishings in every room, including a 37″ flat screen, high definition television and the new Sheraton Sweet Sleeper Bed. The hotel’s cafe will be demolished to make way for a wine lounge/small plates bistro.

The 13,000 square feet of meeting space will be upgraded to include new carpeting, lighting and accessories. according to the spokesperson. The hotel already provides guests with an indoor heated pool, 24-hour fitness center and tanning salon among other amenities.

Renovations are expected to be complete by August 2009.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.