What is the story about?
What's Happening?
Monomoy Property Ventures and Axonic Capital have acquired the Crowne Plaza Atlanta Midtown located at 590 West Peachtree Street. The property is set to undergo a significant renovation and conversion to become The Marriott Atlanta, a flagship hotel under the Marriott Hotels brand. The renovation will be led by Monomoy and a top-tier design team, with Schulte Hospitality Group managing the property. The project aims to reposition the hotel to meet the needs of modern travelers and deliver exceptional value to investors. The Marriott Atlanta will feature fully-renovated guest rooms and suites, modernized public spaces, a new M Club Lounge, innovative food and beverage concepts, and upgraded event venues. The renovation is expected to begin in late 2026, following Atlanta's World Cup events, with reopening targeted for late 2027 ahead of Super Bowl LXII.
Why It's Important?
The conversion of the Crowne Plaza Atlanta Midtown into a Marriott hotel represents a strategic investment in one of the Southeast's strongest hospitality markets. This project aligns with Monomoy's track record of acquiring quality real estate in high-growth markets with strong repositioning potential. The renovation and rebranding are expected to enhance the property's performance, drive long-term return on investment, and strengthen its position as a premier Marriott destination in Atlanta. The involvement of Schulte Hospitality Group, known for its expertise in branded full-service hotels, further underscores the project's potential to elevate the property's status and appeal to travelers seeking modern amenities and exceptional service.
What's Next?
Construction is expected to begin in late 2026, with the reopening targeted for late 2027. The renovation will include comprehensive upgrades to guestrooms, suites, and public spaces, as well as modernization of back-of-house systems to enhance operational efficiency and meet Marriott's brand standards. Cooper Carry will lead architecture, design, and engineering efforts. The property's strategic location near Georgia Tech, Emory Hospital, Mercedes-Benz Stadium, and downtown Atlanta positions it well to attract a diverse clientele, including business travelers and tourists.
Beyond the Headlines
The transformation of the Crowne Plaza Atlanta Midtown into a Marriott hotel could have broader implications for the hospitality industry in Atlanta. It reflects a trend of repositioning existing properties to meet evolving consumer preferences for modern amenities and loyalty program benefits. The project may also contribute to the revitalization of Atlanta's Midtown corridor, attracting more visitors and boosting local economic activity. Additionally, the partnership between Monomoy Property Ventures and Axonic Capital highlights the growing interest in strategic real estate investments in high-barrier urban markets.
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