I just stayed at the FS Downtown Memphis Marriott. The lounge is not open on weekends, but they did provide me with breakfast coupons as a Plat.

I am not sure how far it is from the basketball arena, but it overlooks the old Pyramid - which really is an odd duck of a building.

I thought that the front-desk staff was exceptionally friendly and professional. I would stay at this hotel again whenever in the area.