Hodges Ward Elliott is pleased to present for your consideration its exclusive representation of ownership in the sale of the Crowne Plaza Atlanta Perimeter at Ravinia, a premier 495-room hotel strategically located in Atlanta's vibrant Central Perimeter submarket.
Property Overview
Atlanta, GA 30346 |
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| YEAR Built | 1985-1986 |
| Parcel Size | 4.7 acres |
| Building Area | 357,350 SF |
| Last Major Renovation | 2019, $38.2MM ($77K/Room) |
| No. of Rooms | 495 |
| Meeting Space | 32,000 SF |
| Food & Beverage |
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| AMENITIES |
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| Parking | On-site 550-spaces, valet ($35) and self parking ($23) |
| Interest Conveyed | Fee Simple |
| Labor | Non-Union |
| Brand | Crowne Plaza by IHG (agreement expires 1/31/2026) |
| Management | IHG (agreement expires 1/31/2026) |
Investment Considerations
FULLY UNENCUMBERED IN THE NEAR TERM
The management agreement with IHG is set to expire in January 2026, granting prospective purchasers maximum flexibility with respect to brand and management strategy.
IMPRESSIVE PHYSICAL ASSET
The 15-story, concrete and steel-constructed building underwent an exhaustive $38.2 million renovation in 2019 that addressed all aspects of the Property, including MEP and deferred maintenance items. As a result, the Hotel, which boasts a wealth of features, amenities, and design elements remains in excellent condition today.
STRATEGIC CENTRAL PERIMETER LOCATION
The Property is located at the nexus of I-285 and Ashford Dunwoody Road, strategically positioned to provide quick and convenient access to all major highways and surface streets leading into and out of Atlanta’s Central Perimeter submarket. The Crowne Plaza is within minutes of over 30 million square feet of office space (Georgia’s second largest office submarket), 1,400 hospital beds (the largest concentration in metro Atlanta), the state’s second most visited mall (Perimeter Mall), and numerous restaurant and leisure amenities.
MAJOR CORPORATE DEMAND GENERATORS
The Crowne Plaza is situated in one of the Southeast's largest employment centers, with over 132,000 daily workers. Major corporate demand generators within minutes of the Property include IHG, State Farm, Cox Communications, UPS, Mercedes-Benz USA, Inspire Brands, VMware, Newell Brands, IBM, WestRock, and Focus Brands.
SIGNIFICANT REVENUE
Following its recent renovation, the Property has firmly established itself as the area's premier group-oriented hotel, now exceeding its previous peaks in room and F&B revenue as the submarket continues its recovery. The recent completion of the $803 million I-285/GA400 interchange project should further bolster hotel demand in the market.
FAVORABLE SUPPLY PICTURE
There are currently no new hotel products under construction or in planning stages in the submarket.
HOTEL SIZE
With 495 guest rooms and 32,000 square feet of meeting space, the Crowne Plaza is one of the largest hotels outside of Downtown Atlanta and the largest in the submarket. The Property’s substantial footprint and amenity base enables it to accommodate multiple events simultaneously and both large and small groups, providing a significant competitive advantage in the dynamic North Atlanta region.
DISCOUNT-TO-REPLACEMENT
Due to Central Perimeter’s skyrocketing land costs, combined with persistent construction costs and lack of financing options, the development of a similar stand-alone product to the Crowne Plaza would be cost prohibitive. At the expected level of pricing, the Crowne Plaza offers value to the investor at a significant discount to today’s replacement cost.
