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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.

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