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LITTLE ROCK, Ark. (KTHV) - The Peabody Hotel will officially become the Marriott Little Rock today with a flagging ceremony.

The ceremony will be at 11 a.m. in downtown Little Rock.

In January, Mayor Mark Stodola said it will be a major benefit to Little Rock. "It most likely will increase reservations, increase the number of people to the city, increase tourism and increase our local economy," said Stodola. "We are very excited about the opportunity it presents to us."

The mayor also said during the transition, there will be an estimated $16 million dollars in renovations.

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