Georgian Terrace Hotel. Source: Wikimedia Commons

One of Atlanta’s most historic buildings has a new owner.

Virginia-based SoTHERLY Hotels announced on April 1 that the company purchased the Georgian Terrace Hotel for $61 million. The hotel is directly across from the Fox Theater at the intersection of Peachtree and Ponce de Leon. The 326-room hotel will be managed by Chesapeake Hospitality.

The hotel, also known as “The Grand Dame of Atlanta”, was constructed in 1911. According to the Atlanta Journal Constitution, it hosted the Premiere Party for “Gone With the Wind” in 1939. Walt Disney also stayed at the hotel in 1946 when “Song of the South” premiered at The Fox Theatre.

The SoTHERLY press release doesn’t make any mention of the hotel’s place in film history.

“The Georgian Terrace Hotel is a significant acquisition for SoTHERLY Hotels,” CEO Drew Sims said in the press release. “This iconic hotel gives us a landmark property in the second largest MSA in the Southern United States. Atlanta also serves as a primary feeder market to our existing hotel portfolio and therefore it has been a high priority for us. We are pleased to not only enter this market but to acquire a property of this caliber. We believe there is tremendous upside to both the market and the Hotel.”

To read the full statement from SoTHERLY, click here.