Raleigh’s circular Holiday Inn isn’t going away after all. Here’s more on its makeover
A cylinder-shaped Holiday Inn, once threatened with demolition, is getting a makeover in downtown Raleigh.
After years of uncertainty and in a surprise twist, its owner, Tidal Real Estate Partners, confirmed that it plans to convert the 20-story building at 320 Hillsborough St. into a Hotel Indigo, a brand of IHG Hotels & Resorts.
The chain focuses on creating “small, individually owned boutique hotels,” company spokesperson Joyce Fitzpatrick, said in an email to The N&O this week.
Beyond that, she remained tight-lipped. “We’ll reach back out when we have more information,” she said.
Triangle Business Journal first reported the deal. Financing for the renovation and preservation of the building is slated to close this month.
It’s a far cry from the developer’s original plans.
In 2021, Tidal purchased the hotel and adjacent parking lot for $23.8 million. A year later, it unveiled plans for a 20-story tower. Among the proposals: 179 hotel rooms, 350 apartments, restaurant space and a parking deck.
At the time, Mick Walsdorf, CEO of Tidal, said that there was a dearth of high-end hotel rooms in downtown Raleigh.
Initial plans to raze the building inspired a cult following, complete with T-shirts at House of Swank.
A local relic
The Holiday Inn’s history dates to 1969, when it was one of 25 round motels conceived by Holiday Inn founder Kemmons Wilson.
For many years, the 200-room hotel operated under the Clarion Hotel name. In its heyday, its top floor was home to a restaurant, where multiple bands played, including Southern Culture on the Skids.
In 2012, it was bought for $9.4 million by a Miami developer who renovated it and put it back under Holiday Inn management, The N&O previously reported.
Until recently, the hotel was still accepting reservations. It’s now closed to guests ahead of renovation.
This story was originally published June 4, 2025 at 4:22 PM.
