I'm here now and the property is in the very initial phases of a total property renovation. Frankly, it hasn't really begun in earnest just yet. I think they have 20' of new hallway carpet laid on the 4th floor and that same area has new wallpapering.
The club lounge was totally redone (and looks great) this past winter/spring.
Outside of those areas (and the room bathrooms), this property hasn't seen a good remodel or refresh in about 15 years - perhaps longer. It's overdue.
What I'm seeing of the initial remodel areas look fantastic, but the job won't be completed until this winter ... perhaps into 2014.
If you can get the HI for a great rate, go for it.