Guesthouse at Graceland: Priscilla Presley Opens Hotel

Table Of Content

• Elvis Presley's Granddaughter, Riley Keough, Is The New Owner Of Graceland
• Graceland: 40 facts to mark the 41th anniversary of the public opening of Elvis' home
• What happens to Graceland after Lisa Marie Presley's death?
• FAST FACTS ABOUT GRACELAND, THE HOME OF ELVIS PRESLEY
• Riley Keough Officially Becomes New Owner of Graceland and Sole Heir of Lisa Marie Presley’s Estate

Court documents, which the family attempted to keep private, revealed that Riley will be the sole trustee of her late mother's estate and the subtrusts of her sisters. The settlement appears to include a $1 million payment to Priscella, and Riley agreed to cover up to $400,000 of Priscella's legal fees related to the petition, The New York Times reported. Priscilla will act as a "special advisor" to the trust "for which she would be paid an undisclosed annual amount for 10 years, or until her death, whichever came first," according to the outlet. She will also be the trustee of the subtrust of her son, Navarone Garibaldi, who is Lisa Marie's half-brother.

Elvis Presley's Granddaughter, Riley Keough, Is The New Owner Of Graceland

Priscilla filed legal documents disputing who would oversee the estate of her late daughter Lisa Marie in January, not long after her daughter's death. Lisa Marie, a singer and the only child of Elvis, died at a California hospital at age 54 on Jan. 12 after paramedics answered a 911 call reporting a woman in cardiac arrest. A Los Angeles judge officially approved Riley Keough, Lisa Marie's eldest child and Elvis Presley's granddaughter, to become the sole heir of her late mother's estate, according to multiple outlets. DreamCatcher Hotels, a Memphis-based hotel brand known for its innovative approach to the hotel experience, has overseen the development of the resort and managed the design and construction of the Graceland-inspired architecture and interiors.

Graceland: 40 facts to mark the 41th anniversary of the public opening of Elvis' home

Priscilla will serve as a "Special Advisor to the Trust" and will be compensated monthly by Keough. The amount of Priscilla's reimbursement was redacted in the documents. A living trust is a form of estate planning that allows a person to control their assets while alive, but have them distributed if they die. It serves the function of a will if a separate will is not filed, as appeared to be the case with Lisa Marie. News that she remained focusing on prioritizing her family amid Lisa Marie's heartbreaking passing.

An Inside Look at Elvis Presley's Graceland Estate - E! NEWS

An Inside Look at Elvis Presley's Graceland Estate.

Posted: Sun, 22 Jan 2023 08:00:00 GMT [source]

What happens to Graceland after Lisa Marie Presley's death?

Who owns Elvis' Graceland? Scene of death, tourist attraction and centre of family war - The Mirror

Who owns Elvis' Graceland? Scene of death, tourist attraction and centre of family war.

Posted: Tue, 14 Mar 2023 07:00:00 GMT [source]

Elvis’s gold records on display at Graceland during “Elvis Week” in 2002, a celebration of the musician’s life held on the 25th anniversary of his passing. Elvis has 150 records certified gold, platinum, or multiplatinum by the Recording Industry Association of America. Elvis Presley standing on the front porch of his Graceland estate, a Colonial Revival–style mansion built in 1939.

Among the first guests to check in were Elvis Presley’s family members, friends and musicians, along with Elvis fans and Graceland visitors from around the world. When Lisa Marie Presley finally got access to her inheritance in 1993, she founded a trust in her father’s name to manage his estate. But in 2004, she agreed to sell off 85% of Elvis Presley Enterprises’ assets, including Elvis’ likeness rights, for around $100 million to music entrepreneur Robert F.X. Sillerman and his company CKX Inc. Lisa Marie Presley retained 15% ownership in Elvis Presley Enterprises.

The estate has hosted millions of visitors since then and typically makes $10 million annually, Forbes reports. In 2020, the entire Presley estate, including Graceland, was estimated to be worth between $400 to $500 million, according to Rolling Stone. Graceland was built on 500 acres of farmland in Memphis, Tennessee, owned by the S.E. Toof family for generations and named after Grace, a member of the family. In 1939, "Grace's niece, Ruth Brown Moore, and her husband, Dr. Thomas Brown Moore, built the mansion, which became well-known to the locals of Memphis," according to the estate's official website.

The home's previous owners Dr. Thomas Moore and his wife Ruth named the mansion after Ruth's aunt, Grace Toof, when they build the Colonial Revival style home in 1939. The decision to allow the public to visit Graceland stemmed from the high estate and inheritance taxes Elvis' family were facing after his death, with Priscilla ultimately making the decision not to sell the property. The court sign-off concludes a legal dispute over Lisa Marie's will, which Priscilla Presley—Elvis' ex-wife and Lisa Marie's mom—brought into question following the singer's death in January at age 54.

She has been instrumental in keeping the estate up and running as a tourist destination and her ex one of the highest-earning deceased celebrities of all time. In addition to five staircases and three fireplaces, the home also has a billIards room and a lair that Presley referred to as "The Den". Complete with a waterfall, wooden walls, a grass shag carpet and plastic foliage, fans began calling it "the Jungle Room" when Graceland was opened to public visitors in 1982.

Lisa Marie Presley’s final resting place will be at Graceland by her late son’s side

"Don't Forget to Social Distance" counseled the campus' illustrated signs, which represented the recommended six-feet-of-separation as a measurement equal to "6 teddy bears," "3 hound dogs," "2 guitars" or "1 Elvis." A casualty of Graceland expansion was the so-called Graceland Crossing shopping plaza, an L-shaped strip mall of independent Elvis souvenir shops located across the street and to the north of the mansion. A popular Elvis Week hangout for fans, who gathered in a tent in the plaza parking lot to listen to performances by tribute artists (this reporter once ran into Jackson Browne there), the space was bought by Graceland and closed in 2017. The 450-room Guest House at Graceland opened on Oct. 27, 2016, north of the mansion on Elvis Presley Boulevard. The hotel space includes a 464-seat theater and four bars and restaurants. It effectively replaced the 128-room Heartbreak Hotel, a remodeled 1986 Wilson World lodge that Graceland remodeled and reopened in 1999.

Today, it's now expanded to 17,552 square feet on 13.8 acres of land. Sadly, the legend died of a heart attack at Graceland on Aug. 16, 1977, when he was only 42. Lisa Marie's trust included ownership of Graceland and a 15% stake in Elvis Presley Enterprises, People reports.

In 2020, one Presley executive told Rolling Stone that the Presley estate was worth around $400 or $500 million. But since the rock legend’s death in 1977, that posthumous payload has seen its share of twists and turns, with everything from his music catalog to his likeness rights buffeted by the winds of capitalism. Graceland is closed to visitors only on Thanksgiving and Christmas. However, on March 20, 2020, Graceland closed — like many public places in Shelby County — due to Health Department mandates related to the coronavirus pandemic. It reopened May 21, with a number of whimsical Elvis-themed cautions in place.

Lisa Marie, who inherited her father Elvis’ property when he died in 1977, died from a small bowel obstruction in January. As the question of who was to be Graceland’s new custodian played out in the courts, media reports swirled, speculating about potential succession drama between Keough and grandmother Priscilla Presley. The actor waved off rumors of familial discord, telling VF she doesn’t know why her grandmother wouldn’t be buried at Graceland.

Downstairs in the basement is the TV room, where Elvis often watched three television sets at once, and was within close reach of a wet bar.[34] The three TV sets are built into the room's south wall and there's a stereo, and cabinets for Elvis's record collection. Painted on the west wall is The King's 1970s logo of a lightning bolt and cloud with the initials TCB, both of which represent 'taking care of business in a flash'. Graceland is a mansion on a 13.8-acre (5.6-hectare) estate in Memphis, Tennessee, United States, once owned by American singer Elvis Presley. Presley is buried there, as are his parents, paternal grandmother, grandson, and daughter. In 2016, Lisa Marie made an amendment to her will listing Keough as the sole trustee to her estate and naming Keough, her two half-sisters, and her brother, Benjamin Keough, who sadly died by suicide in 2020, as beneficiaries. She tapped her business manager Barry Siegel to manage the trust’s assets — a move, she would say, that triggered an avalanche of debt and devastation.

The mansion has two chimneys; one on the north side's exterior wall, the second rising through the south side's roof ridge. The central block's front and side facades are veneered with tan Tishomingo limestone from Mississippi and its rear wall is stuccoed, as are the one-story wings. The front facade fenestration on the first floor includes 9x9 double-hung windows set in arched openings with wooden panels above, and 6x6 double-hung windows on the second floor. Sauer also installed a kidney shaped swimming pool and a racquetball court, which is reminiscent of an old country club, furnished in dark leather and a functional bar. There is a sunken sitting area with the ever-present stereo system found throughout Graceland, as well as the dark brown upright piano upon which Elvis played for what were to be his last songs, Willie Nelson's "Blue Eyes Crying in the Rain" and "Unchained Melody".

The Guesthouse at Graceland, a new 450-room hotel near Elvis’ famous Tennessee estate began welcoming visitors last October. PEOPLE spoke with Priscilla Presley about the new property, which she oversaw and helped design. When Elvis Presley died in 1977, Lisa Marie Presley, his only child, inherited Graceland — an eight-bedroom, eight-bath Colonial revival house in Memphis that became one of the most iconic pieces of real estate in American music history. Graceland’s new, world-class, 450-room resort, The Guest House at Graceland, welcomed its first guests today when Priscilla Presley joined Graceland executives to cut the “blue suede ribbon” to signify the official opening for the $92 million luxury property.