Downtown Raleigh’s circular-shaped Holiday Inn appears to have avoided demolition.
Why it matters: The iconic 1969 building — whose unique design locals either love or loathe — had been earmarked for demolition for several years after Tidal Real Estate Partners bought the property in 2021.
- In 2022, Tidal said it planned to replace the hotel with a tower that included both a Kimpton Hotel and apartments, but the plans have been on hold for years.
Driving the news: Now, Tidal has temporarily closed the hotel while it plans to renovate the Holiday Inn into a Hotel Indigo, a brand owned by IHG Hotels and Resorts, according to a spokesperson for the company.
- In addition to Asheville and Winston-Salem, this will be North Carolina’s third Hotel Indigo, a boutique hotel brand known for incorporating local flavor into its design.
- A spokesperson for Tidal said more information about the renovation would be available in the coming weeks.
- The Triangle Business Journal first reported the change in direction for Tidal.
What they’re saying: Tidal representatives were not available for an interview but Ken Copeland, the company’s president, said in a statement that Tidal was “excited to bring Downtown Raleigh the true lifestyle boutique hotel it deserves, and to do so by restoring an iconic Raleigh landmark into the modern era.”…