A Midtown Atlanta hotel is about to get a new look
New ownership has big plans — and a new name — for a Midtown hotel that’s been a longtime fixture of the city skyline.
The 25-story hotel at 590 W. Peachtree St. was sold at an undisclosed price to Monomoy Property Ventures and Axonic Capital, according to a news release this week. It’s currently dual-branded as the Crowne Plaza Atlanta Midtown and Staybridge Suites Atlanta Midtown, which both fall under the IHG Hotels & Resorts brands.
That is about to change as part of a multi-million-dollar renovation.
Reflagged as The Marriott Atlanta, the hotel will undergo a full refresh of its 462 rooms and suites alongside modernized public spaces and new food and beverage offerings. The new owners, a pair of New York-based real estate investment firms, said the renovation effort will breathe new life into the highly visible hotel.
“Post-renovation, this property will be a highly compelling offering in one of the Southeast’s strongest hospitality markets,” Eric Sitman, managing director at Axonic Capital, said in the news release.
Built in 1972, the hotel is located in the shadow of Bank of America Plaza, the tallest tower in Atlanta. It’s also a prominent sight along the downtown connector near North Avenue.
The building last traded hands in 2014 for $16.6 million, kicking off a refresh that was completed two years later by New York real estate investment firm AWH Partners. Hodges Ward Elliott represented AWH in the most recent sale.
Monomoy and Axonic Capital declined to provide the specific budget for the forthcoming wave of renovations. But placing the property under Marriott’s brand and repositioning it will create “a product that meets the needs of the modern Atlanta traveler,” said Kevin Vaughan, founder and managing partner of Monomoy.
The new owners tapped Kentucky-based Schulte Hospitality Group to manage the property. Atlanta-based Cooper Carry will helm the architecture and design of the renovation effort.
Construction will begin in late 2026 following Atlanta’s summer stint as a World Cup host city. The hotel’s renovation will be complete in late 2027 ahead of the following year’s Super Bowl LXII, which is slated for Atlanta’s Mercedes-Benz Stadium.
About the Author
Zachary Hansen, a Georgia native, covers economic development and commercial real estate for the AJC. He's been with the newspaper since 2018 and enjoys diving into complex stories that affect people's lives.
