The Sheraton Hotel in Iowa City has announced it will be laying off 30 employees and temporarily closing on December 31st. The moves are part of a transition to new ownership.

The Iowa City Press-Citizen reported earlier this year that Sheraton would be sold to Graduate Hotels. The building is set to be remodeled and opened as the Graduate Iowa City boutique hotel by next summer.

The Davidson Hotel company, which owns Sheraton, said that employees who are laid off will be invited back once the hotel re-opens.

Records show that the Sheraton was sold to Graduate Hotels for $26 million back in June of this year.


[via CBS2]

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