COLUMBUS, Ohio (WCMH) -- A historic Downtown hotel that has hosted several U.S. presidents is set to undergo renovations after being purchased for more than $10 million. Whitestone Capital, a division of the Lewis Center-based Whitestone Companies, announced this week it made an all-cash transact ion to acquire the Westin Great Southern Hotel at 310 S. High St. Franklin County auditor's office records show the investment firm paid $8.85 million for the property and another $1.8 million for the hotel's furniture. $370 million project would bulldoze Latitude Five25, renovate Wedgewood Village Built in 1896 and listed on the National Register of Historic Places, the 142,326 square-foot Westin has welcomed several U.S. presidents, including William McKinley, Theodore Roosevelt, William Howard Taft, Franklin D. Roosevelt and Woodrow Wilson. "When you step into the picturesque two-story marble lobby, you feel a century's worth of history all around you," said Jay Batra, CEO of Whitestone. "You see the passion that went into building it. They don't build them like this anymore." Whitestone announced it made an all-cash transaction to acquire the Westin Great Southern Hotel at 310 S. High St. in Downtown. (Franklin County Auditor's Office) The seven-story hotel is home to 189 guestrooms, an Italian restaurant called Bar Cicchetti and more than 10,000 square feet of event space, including a grand ballroom with marble flooring and stained-glass windows that "give off a roaring 20's fairytale mystique that weddings gravitate to," Whitestone said. The investment firm noted it's planning to "restore and elevate this treasured landmark while delivering a refreshed guest experience" through renovations that will include updates to guestrooms, the fitness center, and refinishing the interior marble. The Westin will remain open while these changes are made. Downtown’s Sheraton hotel again on the market "Our investors and designers love projects like this," said Chuck Groger, Whitestone's chief revenue officer. "This type of project represents a unique blend of restoring the glory of a priceless asset, having a one-of-a-kind story, and driving an updated guest experience that makes an investment like this special." The Downtown hotel was originally named the Great Southern Fireproof Hotel and welcomed guests for the first time shortly after a neighboring concert hall, the Opera House, opened. The concert hall, which was later renamed the Southern Theatre, remains connected to the hotel, but is separately owned by the Columbus Association for the Performing Arts. The Southern Theatre is connected to the Westin, but is separately owned by CAPA. (Franklin County Auditor's Office) The Westin will be managed by the California-based ZMC Hotels, which is also in charge of the Four Points by Sheraton hotel at 8505 Pulsar Place near Polaris Fashion Place. The Downtown hotel, which last sold in 2007 for $14 million and is among Marriott's portfolio, will remain under the Westin name. The sale marked Whitestone's 14th acquisition in the last two years and its first hotel in Downtown. The investment firm also owns another central Ohio Marriott-affiliated property, the 260-guestroom Sheraton Suites hotel at 201 Hutchinson Ave. in Worthington. Barnes & Noble to open inside shuttered central Ohio Bed, Bath & Beyond "While we have recently purchased many great assets in cities across the country, [the Westin] is especially meaningful as it's right here in our hometown," said Batra. "We are incredibly excited and proud to add such a remarkable historic property to our portfolio." ...read more read less