O.K., now that we've got the college and highs holiday tournaments out of the way, it's make room - a Sheraton Park ballroom - for high-class basketball.

Yes sir, tipoff is Sunday on the hardwood dance floor of the grand old hotel at Woodley and Connecticut NW for a whole week of fast breaks, slam dunks, the regulation-size works. First, the Sheraton stages its employee tournament. Then, Thursday-Friday-Saturday, it's an eight-team unlimited "A" division invitational featuring top players from Prince George's, Montgomery and the District - including the hotel's formidable outfit with the likes of former Boston Celtic Johnny Jones and erstwhile Oklahoma State starter Jeff McIntyre, from whom we learn all this.

To wind it up Saturday, they'll turn the floor over to the Colt (kids') League season openers. The D.C. Recreation Department will cooperate by furnishing officials and whatever.

"We're probably the only hotel in the country that has the capability to do this," said rooms division manager Melntyre, 26. "We'll have seating for 300. There is even enough space that there will be volleyball down at the end."

But when they start knocking things down this year to make way for the new, ultramodern Sheraton Park?

"No problem. In fact, the ballroom will be enlarged. They're even going to put in a balcony" . . .