The unparalleled pleasure of watching sky-high buildings is going to get augmented for the people of Atlanta. A $350 million hotel is going to grace the Peachtree Street in Midtown. The prime location of this hotel will fetch in big bucks and soon the revenue will overrun its monstrous construction cost.
Alvin D. James, an executive of a broadcasting company, has purchased the property from John Wieland Homes & Neighborhoods Inc. This hotel will offer services paralleled with the international standards and will have up to 250 rooms. The five star hotel will open in spring 2012, three international hotel brands are being considered to flag the hotel.
Mr. James has spent over 25 years in the broadcasting industry and is a household name in that industry. By the way, the Major Broadcasting Cable Network is all his doing. It seems that this venture, like every other venture, will have to go under fire, Horst Schulze, the co-founder of The Ritz-Carlton Hotel Co. said “I can assure you, there is no financing available for new hotels in the United States”. On the contrary Alvin D. James claimed that he has already searched for financers and a European hedge fund will be funding the entire amount.