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New hotel being considered at Graceland

By The Associated Press

This article was published May 1, 2014 at 9:56 a.m.

MEMPHIS — A new hotel proposed at Graceland would be among the biggest in Memphis if approved.

Media reported that Elvis Presley Enterprises Inc. presented plans for the proposed structure to the city on Wednesday.

City officials say development plans call for 450 rooms in the hotel, along with an upscale restaurant, sports bar and nearby movie theater at a cost of about $70 million.

It is tentatively to be called The Guesthouse at Graceland and would be built near Presley's mansion on land the company purchased in 1994. A statement from the company says if the project proceeds, there would be minimal impact on the surrounding community and a projected opening date of August 2015.

City leaders are expressing support for the project.

"I can't overstate its importance," Memphis Mayor A C Wharton told The Commercial Appeal. "Its timing could not be better."

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