LITTLE ROCK, Ark.
The Peabody Little Rock is about to change hands and a big renovation and rebranding is likely in the cards for the iconic property. The hotel's current owner, Belz Enterprises has signed an agreement with another hotel ownership firm, Fairwood Capital to sell the 440-room hotel, according to ArkansasBusiness.com.
Fairwood officials said “the rebranding will require a multi-million dollar investment in comprehensive renovations to the property. Renovations will likely include all guest rooms and some public spaces.
Andrew Groveman of Belz Enterprises said in a statement that the prospective buyer is talking to "several upscale national hotel franchise companies to determine a brand for the hotel."