Owners of Raleigh's circular hotel plan another hotel and restaurant
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The circular Holiday Inn in downtown Raleigh. Photo: Lucille Sherman/Axios
Raleigh's historic circular hotel could be getting a new neighbor.
Why it matters: Tidal Real Estate Partners, a New York-based development firm, has filed plans with the city for a 13-story hotel on a parcel next to the former Holiday Inn on Hillsborough Street.
State of play: Tidal Real Estate, which is spending $34 million to renovate the circular building into a Hotel Indigo, has submitted several plans for the land at 300 Hillsborough St.
- Tidal bought the land in 2021 with plans to demolish the Holiday Inn building and replace it with a Kimpton Hotel.
- Those plans fell through, and Tidal pivoted to renovating the Holiday Inn and applied for historic status from the city.
Zoom in: Plans for the new hotel call for 162,000 square feet in 13 stories — large enough for 180 hotel rooms, a restaurant, bar and lounge.
- The Triangle Business Journal first reported the plans, which do not identify a hotel brand. Tidal has not yet responded to a request for comment from Axios.
- An access road would be built between the future Hotel Indigo and the planned hotel, connecting Hillsborough and Edenton streets.
The big picture: Tidal's new hotel would join a growing trend of new hotel rooms in downtown Raleigh.
- City leaders have been pushing for years to increase the number of hotel rooms downtown, in part to support the expansion of Raleigh's convention center.
- That effort has included incentives for the construction of an Omni Hotel on Fayetteville Street.
- Elsewhere downtown, Loden Properties has proposed plans for a boutique hotel on the historic Raleigh Depot property.
