BRADENTON -- A groundbreaking ceremony for the $15 million renovation of "The Pink Palace" in Bradenton is slated for 4 p.m. Jan. 17.

The 1920s-era downtown hotel, formerly known as Manatee River Hotel, 309 10th St. W., was purchased by Widewaters Bradenton LLC and will reopen as a Hampton Inn and Suites featuring 115 rooms, which will include king- and queen-sized suites, along with traditional rooms.

"That [the groundbreaking] celebrates our successes," said David Gustafson, executive director of the Bradenton Downtown Development Authority. "Everyone worked so hard on it to make building it a reality."

The hotel closed in 1960 and reopened as a senior citizens residence renamed the Riverpark Hotel, which closed in 2005. The building has remained vacant since then.

The hotel was nicknamed the Pink Palace because of its exterior color.