Downtown Raleigh’s distinctive round hotel is set to reopen as a Hotel Indigo after a $36 million overhaul, with doors scheduled to swing back open on July 28, 2026. The renovation keeps the building’s mid‑century circular silhouette in place while overhauling guest rooms and adding a new top‑floor bar and lounge meant to cater to both out‑of‑towners and nearby regulars. The project is being pitched as a boutique reboot for one of downtown’s best‑known landmarks.
The timeline and price tag were detailed by Triangle Business Journal, which also highlighted upgraded common areas and new food‑and‑drink spaces in the works. The outlet reports that the property, formerly the Round Holiday Inn, will reopen later this month under the Hotel Indigo brand.
Developer Swaps Tower Plans For A Landmark Save
New York developer Tidal Real Estate Partners bought the site at 320 Hillsborough Street in 2021 and first floated plans for a new tower before changing course, according to Bisnow. The company instead pursued landmark protection and opted for a full renovation of the existing building. With that designation in place, any exterior work now goes before the Raleigh Historic Development Commission, even as the interiors are being completely reworked.
From $71 Million Vision To $36 Million Reality
Early projections put the project at about $71 million when Tidal first applied for landmark status, according to The News & Observer. More recent reporting, though, pegs the nearly finished work at roughly $36 million. That shift tracks with changing plans since the property was acquired during the pandemic and ultimately repositioned instead of being torn down.
Raleigh’s Hotel Boom Gets Another Player
The Hotel Indigo’s return is landing just as downtown Raleigh is absorbing a wave of new hotel projects tied to convention‑center activity and larger mixed‑use developments, a trend that local coverage says will boost visitor capacity and keep more lights on late at night. Prism News has tracked that broader construction boom, and local reporting notes that Sage Hospitality Group will run the hotel and its food‑and‑beverage operations, according to Bisnow.
The building at 320 Hillsborough Street, already a familiar Raleigh silhouette, is expected to keep its recognizable exterior profile even as the inside gets a full refresh. With the July 28 reopening date now circled on the calendar, downtown visitors can look for a new rooftop lounge and one more hotel block helping to handle convention traffic once the doors are open again.
