Kronos Set To Build Crowne Plaza In Buckhead
Wednesday April 23rd, 2008 - 9:25AM
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ATLANTA— A 17-story, 238-room Crowne Plaza will now be built within Atlanta’s Buckhead neighborhood. Kronos Hotels, LLC is the developer and owner of the project, which will cost an estimated $75 million.
The project is scheduled to begin in August and last 18 months.
In addition to the 238 guestrooms, the hotel will have 24 luxury condominium units on its top floors. The property will additionally offer 12,000 square feet of retail space, 12,000 square feet of meeting space and five levels of underground parking.
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.