Paul Breslin, the hotel's general manager, says the expansion will connect the existing north and south towers and make the Sheraton the fifth largest hotel in the city.
The newest construction brings the total upgrades to the hotel to $42.5 million since co-owners Amerimar Enterprises Inc. of Philadelphia and Angelo, Gordon & Co. of New York bought the property in May 1998. At that time, the new owners invested $30 million in an immediate total renovation of the property.
"Our financing is in place and we are ready to move ahead with a project that is not only important to our hotel, but also fundamental to supporting Atlanta's tourism and convention economy, as well as the vitality of the Downtown area," Breslin says.
At a press conference, he told Mayor Shirley Franklin and members of the Atlanta Downtown Neighborhood Association that "in these tough economic times, it is more important than ever to ensure that we have a product that will satisfy the needs of today's group business."
The expansion includes a 15,000-sf ballroom; 8,000 sf of pre-function space; and a 6,000-sf conference area with four breakout rooms ranging from 1,134 sf to 1,638 sf. The new space will accommodate 800 guests in a banquet setting.
The facility, two blocks from Peachtree Street and 10 miles from Hartsfield International Airport, will have street level access, "a great plus for planners who need to transport vehicles or large equipment into the new ballroom," Breslin says.
Amerimar Enterprises added the Sheraton flag to the former Radisson Hotel Atlanta in 1998. Amerimar began to acquire and operate properties in the 1970s as David G. Marshall & Co. In 1976, the firm was known as Bass Brothers Realty Co. and in 1993 the name was changed to Amerimar. Angelo, Gordon & Co. is a New York-based investment firm.
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