Leading the way and cutting the ribbon for the ceremonial grand opening was Priscilla Presley.
This $90 million project has 450 rooms, a business center, a 464-seat theater, five restaurants and lounges.
It is now officially open for business.
“If this hotel was here during the time he was alive, he would have probably spend most of his time over here," Priscilla Presley said.
The lobby's ceiling is themed after one of Elvis Presley's jumpsuits.
An exact replica of the stairwell inside Graceland including the famous chandelier is there.
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“It has just been a dream come true," Priscilla Presley said.
No detail was spared, and much of the work force inside the guesthouse is local.
The rooms, of course, are fit for a king, and the suites are fit for the King himself.
“Someone asked me last night if Elvis would ever stay in this hotel, and I said, 'Would he ever stay in this hotel? I mean, this would be a dream hotel for him!'" Priscilla Presley said.
In the end, this project that is now the basis for revitalization in the Whitehaven area is complete. But the best is possibly yet to come.
“It positions us for better things to come in the 21st century," said Kevin Kane, president and CEO of the Memphis Convention & Visitors Bureau.
>> Watch a video of the ribbon cutting here
The new Guesthouse at Graceland is holding a ribbon cutting today. Scott Madaus FOX13 Memphis is live from the $90 million hotel: http://bit.ly/2dPbtxvPosted by FOX13 Memphis on Thursday, October 27, 2016