MEMPHIS, Tenn. — Ground was broken today for a new Graceland hotel.
Elvis Presley Enterprises is building a 450-room, $70 million hotel called the Guesthouse at Graceland.
Priscilla Presley told a crowd Elvis Presley had a plan for the property and that dream is coming true.
The hotel will provide up to 100 jobs, increase property values and attract new business along Elvis Presley Boulevard according to those behind it.
The project has moved very fast since it was first announced in May.
The new hotel is planned to open in August 2015. If the new hotel is built, the Heartbreak Hotel will close.
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