Staff writer-Memphis Business Journal
Ground was officially broken on The Guest House at Graceland, the 450-room $75 million hotel that was announced this spring. The hotel is expected to be completed by sometime in 2015. Preceding the Guest House at Graceland, EPE has also opened the Graceland Archives Studio, a $1 million, 200-seat facility that houses a wealth of Elvis movies, performance videos and music, most of which has never been seen. Plans for another 200,000-300,000-square-foot facility for even more Elvis-related attractions are part of a master plan EPE officials discussed with the Memphis City Council last week. At that time, the Economic and Development and Tourism Committee of the Memphis City Council approved the master plan and a tourism development zone that will be created around 120 acres of undeveloped property around Graceland.