The Chancellor Hotel in Fayetteville officially opened its doors Friday morning with a dedication and ribbon cutting ceremony.
Several distinguished guests, including Arkansas Gov. Mike Beebe, University of Arkansas Chancellor G. David Gearhart and Panama's President Ricardo Martinelli, cut the ribbon.
Chamber of Commerce President and CEO Steve Clark said the hotel will help boost Northwest Arkansas’ economy.
"Fayetteville is back in the sense of tourism business and convention business because we have a first class, full-service hotel, 207 rooms," Clark said. "It's a great day for us because the investment in the community, and it is so exciting because it has been done so well."
President Martinelli graduated from the University of Arkansas in 1973.
He even refers to Fayetteville as his second home.
"He's a big Razorback fan,” Clark said. “He's been here several times to ball games and other special events. We were thrilled to have him here as well."
Among the guest speakers was Gov. Beebe.
Gov. Beebe said The Chancellor Hotel is rich in tradition and will be great for Fayetteville’s economy.
'It becomes a showplace for a lot of out-of-town, out-of-state guests and visitors,” said Gov. Beebe. “It`s an open front porch, it`s the door to visitors to Fayetteville who come and stay.”
Since mid-November, the hotel has undergone a top-to-bottom redesign and renovations.
Gov. Beebe is certain the hotel now has what it takes to bring big names and big revenue to Northwest Arkansas.
“Every time we get the opportunity to dedicate new facilities, new buildings, it makes me happy,” he said. “It is a sign of some progress, it`s a sign that people are working. It's a sign that progress is continuing to occur. Those are the good celebrations.”
While in town, Gov. Beebe also went to Fayetteville High School to join in on the celebration ceremony for finishing phase one of the high school expansion project.
He also said he will be cheering on the Hogs on Saturday in Fayetteville as they take on No. 1 ranked Alabama.
A representative with The Chancellor Hotel said reservations are full for the next several weeks.