ATLANTA Thayer Lodging Group has agreed to acquire the 304-key Hotel Palomar Atlanta-Midtown and will rebrand it under Marriott International’s Renaissance Hotels flag.
The acquisition from property owner WP Partners is expected to close within 30 days. The sale price has not been disclosed.
Marriott will take over management of the property from Kimpton Hotels and Restaurants and will rename it The Renaissance Atlanta Midtown Hotel. The hotel’s Pacci Ristorante and AltoRex Rooftop Lounge will also be renamed, although neither is expected to see significant operational changes.
“This is an outstanding lifestyle hotel in a prime location and will be a great addition to our portfolio,” says Thayer Managing Director Jin Lee.
The 21-story property is located in the heart of Midtown Atlanta, near the campus of Georgia Institute of Technology, Piedmont Park and the Georgia Dome. The hotel features 10,000 sq. ft. of flexible meeting space and a fitness center.
The reflagging returns the Renaissance brand to city center Atlanta, following the conversion of the former Renaissance Atlanta Hotel Downtown to the Meliá Hotels & Resorts brand back in September. There are two other Renaissance properties open in Atlanta: Renaissance Atlanta Waverly Hotel and Renaissance Concourse Atlanta Airport Hotel.