Update: As of January 6, 2010, a Marriott insider suggests that Emory is extremely interested in the property. Their use, however, is still unknown at this time. Story below.
According to Marriott insiders, the Renaissance Hotel, Downtown Atlanta, will close its doors on November 1, 2010 and will transfer ownership to an unnamed REIT.
This new owner is anticipated to operate the Renaissance Hotel independently while searching for a new flag. The Renaissance Hotel was built in 1974 but was renovated in the past 5 years.
However, there are still numerous items that make the hotel a liability to the guest satisfaction goals of the Renaissance brand while not being cost-effective to further renovate (not to mention it is one of the biggest eye sores in the Atlanta skyline). Marriott insiders suggest that a Marriott real estate partner did have a bid out on a piece of land near Centennial Olympic Park with the intention of building a brand new Renaissance. Coincidently, due to current economic conditions (surprise, surprise) that deal is on an indefinite hold.
The Renaissance Hotel downtown is located at:
590 West Peachtree Street NW
Atlanta, Georgia 30308
Phone: 1-404-881-6000
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