ATLANTA - Buckhead's posh Mandarin Hotel will soon be under the management umbrella of Hilton, sources confirmed to FOX 5 News Thursday. Terms of the deal have not been provided, but employees tell FOX 5 News that they expect a "significant" remodeling investment.
Branding of the Mandarin is expected to change to Hilton's 'Waldorf Astoria'. Leaders with the new management group toured the property earlier this week.
In a statement to FOX 5, The Mandarin Hotel Group notes:
Mandarin Oriental Hotel Group has received notice of termination of its management agreement for Mandarin Oriental, Atlanta and will cease managing the hotel from 7 December 2018. The termination is consequent to the sale of the hotel by iStar Financial Inc
Mandarin Oriental has successfully positioned this award-winning hotel as a market leader in the city and is proud of the value the brand has added to the asset since 2012.
"Mandarin Oriental currently has 19 hotel projects under development and remains committed to growing its portfolio globally," noted James Riley, Group Chief Executive.
The Group regularly reviews opportunities for development in important destinations, including those located in the US."
While not noting specifics, Hilton provided this statement:
With our recently opened Waldorf Astoria properties in Las Vegas, Bangkok and Beverly Hills and upcoming properties in Maldives, London, San Francisco and many others, Waldorf Astoria is amidst an exciting period of growth. We are always looking to bring our iconic hotels, resorts and residences and our legendary True Waldorf Service to incredible destinations to create unforgettable experiences for our guests.
The Mandarin Hotel Buckhead has long been hailed as one of the premier luxury brands in Atlanta. An employee told FOX 5 News that he was 'caught off guard' by the sale, but looks forward to the renovations that are expected to begin quickly.
In addition to the hotel services, the building also boasts several high-end residences.