The Sheraton Gunter Hotel sign was removed in June. For now, it just says The Gunter Hotel. But that, too, won’t last long. The Axle Capital Group is spending more than $30 million on a complete revamp, followed by the rollout of a different brand. The hotel will join the Marriott Tribute line of boutique hotels.

The renovation will kick off next year and include a complete interior and exterior redo. Every guest room, the lobby and all common areas, as well as the exterior, will be overhauled. The team plans to utilize historic tax credits as part of the financing structure. The hotel has been there since 1909. Renovations are expected to be finished in November 2024. After the renovations, the hotel will feature 314 rooms.

The hotel has a long history of top musicians playing at the historic venue. From Robert Johnson to John Mellencamp. To that end, the group is considering installing a recording studio for artists and podcasters.