What's Happening?
Monomoy Property Ventures and Axonic Capital have acquired the Crowne Plaza Atlanta Midtown, located at 590 West Peachtree Street, with plans to convert it into The Marriott Atlanta. This transformation will involve a significant renovation led by Monomoy and a top-tier design team. The property, situated in Atlanta's vibrant Midtown corridor, currently features 462 oversized guestrooms and 30,000 square feet of meeting and event space. The renovation aims to modernize guest rooms, public spaces, and meeting areas, and introduce new food and beverage concepts. Schulte Hospitality Group has been selected to manage the property, bringing its expertise in branded full-service hotels to enhance the hotel's performance and drive long-term returns.
Why It's Important?
The acquisition and planned conversion of the Crowne Plaza Atlanta Midtown into a flagship Marriott hotel is significant for the hospitality industry in Atlanta. This project aligns with Monomoy's strategy of acquiring and repositioning high-value assets in growth markets, potentially boosting the local economy and tourism sector. The renovation will create a modern hotel experience that caters to the needs of travelers and investors alike, enhancing Atlanta's appeal as a premier destination. The involvement of Schulte Hospitality Group ensures operational excellence, which is crucial for maximizing the property's potential and delivering value to stakeholders.
What's Next?
Construction for the renovation is expected to begin in late 2026, following Atlanta's World Cup events, with the reopening targeted for late 2027 ahead of Super Bowl LXII. The project will include comprehensive upgrades to guestrooms, suites, and public spaces, as well as modernization of back-of-house systems to meet Marriott's brand standards. Cooper Carry will lead the architecture, design, and engineering efforts. The property's integration into the Marriott Bonvoy loyalty program will further enhance its market position and attract a broader customer base.
Beyond the Headlines
The conversion of the Crowne Plaza Atlanta Midtown into The Marriott Atlanta reflects broader trends in the hospitality industry, where strategic acquisitions and repositioning are used to capitalize on high-growth markets. This development may influence similar projects in other urban areas, highlighting the importance of adapting to changing consumer preferences and market dynamics. The focus on modern amenities and innovative concepts underscores the industry's shift towards creating unique and memorable guest experiences.
