Renaissance Atlanta Midtown Hotel Has New Owner

ATLANTA, GA — The 21-story Renaissance Atlanta Midtown Hotel has a new owner.

Carey Watermark Investors 2 Inc. (CWI 2) has bought the 304-room hotel with plans to renovate its rooms, public areas and meeting spaces, according to a statement from the company.

Built in 2009 and converted to a Renaissance in 2011, the hotel received more than $3 million of capital improvements between 2011 and 2015, including a renovation of its restaurant, Community Smith.

The hotel features 8,600 square feet of meeting space; a rooftop bar and lounge; and a 24-hour spa, fitness center and business center.

“The acquisition of the Renaissance Atlanta Midtown Hotel represents the opportunity to invest in a newly built, upper-upscale hotel with a strong brand affiliation, located in one of the most significant and growing business districts in the Southeast. In addition to generating attractive initial current cash flow, we believe the property’s ongoing performance and longer-term value can be improved through the implementation of strategic revenue enhancement and operating initiatives,” said Michael Medzigian, CEO of CWI 2.

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