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The 12-year-old Holiday Inn on Peachtree Road, near the Buckhead business and entertainment district, is getting a $14 million facelift. The property will emerge as a 300-room upscale Crowne Plaza hotel. Renovations begin in November and are scheduled to be completed in June 2001.

Noble Investment Group Ltd. purchased the property from Wyndham International Inc. for $15 million or about $50,000 per room. The renovations will cover an expansion of the current 3,000-sf meeting space to 8,000 sf; a new entrance onto Peachtree Road and a streetside restaurant.

While room rates have not yet been set, rates at Atlanta’s two other Crowne Plaza hotels range from $140 to $189 per night. The average daily rate in the north-central market, which includes Buckhead, is $117. The north-central occupancy rate in 1999 averaged 74%, the highest in Atlanta.

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