"We are taking an unbranded product and applying Hyatt standardsto a hotel that's already performing to take it from one level tothe next," explains Benjamin Brunt, principal and executive vicepresident of the Atlanta-based Noble Investment Group. The newowner will invest $6.4 million into upgrades to put the HyattRegency flag onto the 17-story hotel at 701 E. Campbell Rd.

Brunt says the search for an architect has begun. The designingprocess should get under way early in the first quarter, with themakeover expected to take one year to complete.

Brunt tells GlobeSt.com that the Hyatt Regency conversion isunderwriting the value-add play in terms of rates and occupancy. Hesays the Hyatt flag is projected to generate an average daily roomrate in the mid $130 range. Currently, rooms are hovering $99 perday. Occupancy is registering at the low 60% level.