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In anticipation of the more than $100 million in new business to come to New York City from the 1992 Democratic presidential convention, ITT-Sheraton Corp. confirmed yesterday that it will spend $190 million to prepare its two Seventh Avenue hotels for use as main convention sites.
A frequent choice for Democratic party functions, the 1,800-room Sheraton Centre at 53rd Street said it would add three elevator banks and upgrade two floors of rooms to executive suites. In addition, all ballrooms and meeting rooms will be refurbished. "It's a major, major renovation," said Sheraton Centre spokeswoman Judi Cabrera. The work is scheduled for completion in the spring of 1992.
The $190-million price tag includes renovation of the 700-room City Squire Hotel with a new lobby and health club. The Squire, across the street...