When it opened in 1922, the 29-story Magnolia building was the tallest structure south of Washington, D.C. Today it is best known as the home of the red-neon Pegasus sign, installed atop the structure in 1934. (The current sign is a replica.) The building opened as a hotel in 1999, with tailored, oversized rooms that have an urban loft feel; the 129 suites have full kitchens. Pros: Relatively new property in Downtown, ideal for guests who want to try nearby clubs and restaurants, free nightly reception. Cons: Weekend nights can be noisy, most nearby shops and restaurants cater to weekday crowds and are closed weekends.
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