Although there appears to be some minor (re-)construction work going on, nothing major has been accomplished in recent months (year?). Holiday Inn's website keeps pushing back the days in which it's taking reservations (and people who've made a reservation have been offered a refund or alternate accomdations, usually at the Sheraton Safari).
It's continually rumored that once this hotel re-opens, it will be reflagged - perhaps into a more premium brand.