MEMPHIS, Tenn. -- The Memphis City Council is meeting on Tuesday morning to discuss a deal surrounding the Sheraton Convention Hotel. Mayor Paul Young wants the city to buy the 600-bed hotel, however, for that to happen the city council has to give their approval. Young says the city would buy the Sheraton for $22 million through issuing bonds and would require Memphis City Council approval. The council could take the first votes during the meeting. The building was cited as an asset in downtown economics. The Mayor and some city leaders say the deal would protect the more than $200 million investment made into the nearby Renasant Convention Center which resurrected that building during the pandemic when there were few tourists. 📡 See more breaking news, local news and weather from WREG.com for Memphis and the Mid-South. 📧 Sign up for WREG newsletters and have the latest top stories sent right to your inbox. Kevin Kane, the president and CEO of Memphis Tourism said that revitalizing the hotel would benefit downtown and the city as a whole. "We're hoping somebody will take that property and bring it up to current standards and make what we've done on this side of the street, Main Street with the Renasant Convention Center," Kane said. "If we can do that we'll see even greater returns for the hospitality industry and the taxpayers of Memphis and Shelby County." While some believe the purchase could be a major win for Memphis tourism, others say the city has bigger priorities that should be addressed first. This will all be taken into consideration as the city council decides if the city should buy the Sheraton Hotel.