$20 million AC Hotel planned for Downtown
n aging downtown Atlanta hotel is set to get a $20 million makeover.
Atlanta-based Peachtree Hotel Group has acquired the 260-room Holiday Inn Atlanta Downtown Centennial Park. The company plans to invest $20 million to renovate and reflag the property as an AC Hotel by Marriott.
Construction is expected to kick off in June, with the goal of completing the project in early 2017.
“This renovation will encompass a complete transformation of all areas of the hotel,” Mitul Patel, chief operating officer of Peachtree Hotel Group, said in an email to Atlanta Business Chronicle.
He added, “With its prime central downtown Atlanta location in the 8th largest economy in the country, Peachtree Hotel Group recognized this as an ideal time to invest in the downtown market.”
Built in 1985, the hotel at 101 Andrew Young International Blvd. is in walking distance to Centennial Olympic Park and near attractions such as Georgia Aquarium.
AC Hotel is a new, European-inspired brand from Marriott International.
At least two other AC Hotels are in the works for Atlanta. One is rising next to Buckhead’s upscale Phipps Plaza mall. The other would be part of a dual-branded hotel planned for Midtown.
“AC Hotels are known for their timelessly modern decor while being friendly to one’s budget,” Patel said. “Guests will enjoy the ‘Spanish roots, European soul and global mindset’ while being in the heart of one of the Southeast’s most popular cities.”
It joins several hotel projects now in the pipeline for downtown.
Legacy AMH LLC, an affiliate of David Marvin’s Legacy Property Group, is spending $12 million to revamp the 312-room DoubleTree by Hilton Hotel Atlanta Downtown.
Legacy also is planning two new hotels at Marietta and Baker streets: a 150-room Homewood Suites by Hilton, an extended-stay brand, and a 150-room Canopy by Hilton, a lifestyle brand that would be new to the Atlanta market.
Among other projects, construction should kick off later this year to transform downtown’s historic Candler building into the 265-room The Candler Hotel, Curio Collection by Hilton.