Mandarin Hotel Buckhead to become 'Waldorf Astoria'

ATLANTA - Buckhead's posh Mandarin Hotel will soon be under the management umbrella of Hilton, sources confirmed to FOX 5 News Thursday. Terms of the deal have not been provided, but employees tell FOX 5 News that they expect a "significant" remodeling investment. 

Branding of the Mandarin is expected to change to Hilton's 'Waldorf Astoria'. Leaders with the new management group toured the property earlier this week.

In a statement to FOX 5, The Mandarin Hotel Group notes: 

While not noting specifics, Hilton provided this statement: 

The Mandarin Hotel Buckhead has long been hailed as one of the premier luxury brands in Atlanta. An employee told FOX 5 News that he was 'caught off guard' by the sale, but looks forward to the renovations that are expected to begin quickly. 

In addition to the hotel services, the building also boasts several high-end residences.