SIOUX CITY, Iowa—HVS Capital Corp has been appointed to sell the Sioux City Hotel and Conference Center in Sioux City, Iowa—a 193-room hotel connected by skyway to the Convention Center and Mercy Medical Center. The property is 12 stories tall and includes 13,300 square feet of meeting space, featuring a top floor ballroom.
The hotel is blocks away from the new $118.5 million Hard Rock Casino, scheduled to break ground in July 2013 and open in September 2014. The casino complex will feature 800 slots and 32 tables and will amplify Sioux City’s nightlife with its 800-seat concert hall and 3,000-person outdoor venue. The Hard Rock Casino is expected to generate in excess of $100 million of revenue in its first year of operation and attract over one million annual visitors in conjunction with the downtown’s existing entertainment venues.
“The Hard Rock Casino development is the piece de resistance in Sioux City’s downtown renaissance and will become an anthem for continued economic development efforts,” said Bill Sipple, executive managing director of HVS Capital Corp. “The Sioux City Hotel and Conference Center is poised to take its place in the revival. An opportunistic buyer can acquire this hotel asset at significant discount to replacement cost, undertake renovations and affiliate the property with any of several global brands who would love to fly their flag here.”global brands who would love to fly their flag here.”