The Marietta Hilton Conference Center and Hotel will be undergoing extensive changes, with funds coming from the city.
Under the plan, which was approved by the city’s Finance Committee on Tuesday, the city would receive 6% interest on $15 million in funds.
“This is not a loan, this is … an investment,” said Mayor Steve Tumlin.
Councilwoman Michelle Cooper Kelly said the plan will bring more money to the city.
“The good news is we’re not having to dip into our surplus, it’s just the investments that we have, and we’re not asking for a bond to pass along. We’re investing with money we’ve already collected and we’ll get a 6% interest uptake.”
City Manager Bill Bruton said the renovations are set to touch every area of the hotel.
“Besides doing some parking lot issues, they’re going to redo every room in the building, replace all the bathrooms. … They’re replacing all the beds, they’re replacing the wall coverings, they’re replacing the floors, every carpet in the building.”
The vote was 2-0-1, with Councilman Joseph Goldstein abstaining.
For the funding to become final, it must be approved by the full council next month.
Marietta owns the hotel, the property it’s built on and City Club Marietta, the golf course behind the hotel. The hotel is managed by Callas-based Remington Hotels, which leases the hotel from the city.