IOWA CITY (AP) — An Iowa City hotel has announced it will lay off 30 employees and temporarily close on Dec. 31 as it transitions to a new owner.
The Sheraton Iowa City disclosed the moves in an Oct. 27 letter to Mayor Jim Throgmorton. The newspaper reported earlier this year that the hotel would be sold to Graduate Hotels, owned by Chicago-based AJ Capital Parners. The building will be remodeled and reopen as the Graduate Iowa City boutique hotel by next summer.
The Davidson Hotel Company operates the Sheraton. Company spokeswoman Kerri Crannis said in an email Friday that the laid-off employees will be invited back once the hotel re-opens.
Iowa City Assessor records show the Sheraton sold on June 29 for about $26 million to Graduate Hotels ownership.