Hyatt Hotels and Noble Investment Group have announced that they are opening a new hotel in Atlanta, the Hyatt Atlanta Midtown, according to a press release.

The hotel will have 294 rooms and will be located in a prime area on the corner of Peachtree Street and 10th Street in the middle of the Midtown Mile, a celebrated commercial, retail and cultural walking district in Atlanta.

The new hotel will be adjacent to the office tower 999 Peachtree and directly across from the Atlanta Federal Reserve Bank. It's also close to Georgia Tech University, Emory University Hospital Midtown and the corporate headquarters for Coca-Cola, Equifax and Invesco.

The new Hyatt will be the newest full service hotel in Atlanta's Midtown area, which is within walking distance from the city's major attractions such as the Margaret Mitchell House and Museum, Piedmont Park and the Martin Luther King, Jr. Historic Site.

The development includes the replacement and reconfiguration of the entire building, reprogramming all public areas and new luxurious interiors throughout the property.

The plan also includes a new staircase at the corner of 10th Street and Peachtree Street, as well as a mini pedestrian plaza at the hotel entrance.

Noble Investment Group partnered with the Savannah College of Arts and Design to create a major work of public art to be unveiled at the corner of 10th Street and Juniper Street.

"This urban property is another strong example of Noble's strategy to invest in prominently located assets that require substantial redevelopment and premium branding," Rodney Williams, Noble's managing principal and chief investment office, said.  "The culmination of our efforts is the diversity of a high-quality, business class hotel such as Hyatt Atlanta Midtown, which is ideally tailored for its surrounding market environment.

"We believe the business and arts leadership of Midtown Atlanta has made it one of the best live, work, learn, shop and play communities in the United States," Williams continued.