With the American auto industry facing one bad headline after another—Delphi’s bankruptcy, massive job cuts at General Motors and Ford Motor—it’s hard to imagine that a renaissance is taking place in Motown. But these days, Detroit is looking fairly fly.

Derelict early-20th-century office buildings are being renovated into residential lofts and retail space; the streets were repaved for the 2005 Major League Baseball All-Star Game and Super Bowl XL, in 2006; and, despite G.M.’s troubles, its $500 million renovation of the riverfront Renaissance Center has created a glittering centerpiece for the city.

Some new businesses have arrived—Quicken Loans recently announced that it would move its headquarters and 4,000 employees from nearby Livonia. And the old businesses haven’t gone away. The city is still a frequent destination for auto suppliers, and when the North American International Auto Show takes place there from January 19 to 27, it’s expected to draw nearly 800,000 attendees and generate more than $500 million for southeast Michigan’s economy. If you’re planning to go, take our insider advice on some of Detroit’s best pit stops.

Where to park it: Until the Westin Book Cadillac Hotel—where Ronald Reagan nabbed the Republican nomination in 1980 and, in 1939, Lou Gehrig confided to his manager that he was too ill to continue playing baseball—reopens in late 2008, try the Townsend Hotel in the nearby suburb of Birmingham. The luxury boutique hotel has put up Margaret Thatcher, Bill Clinton, and former Chrysler C.E.O. Lee Iacocca. It has boardrooms and convention space aplenty, but the truly important business is done over prime center-cut steaks in the Rugby Grille restaurant, where details of Cerberus Capital Management’s $7.4 billion takeover of Chrysler were hammered out.

Where to refuel: Tribute Restaurant in the suburb of Farmington Hills is arguably the finest eatery in Detroit, featuring classic French food and an extensive wine list. Mercedes maven Dieter Zetsche, C.E.O. and chairman of Daimler, dines here when he’s in town, and Kelly Services president and C.E.O. Carl Camden has been known to dine at chef Rich Travis’ table, which is in the kitchen.

Owned by Bud Liebler, Chrysler’s former senior vice president of marketing and communications, the Whitney restaurant offers upscale American fare in a restored Victorian mansion. It’s lively enough that notorious defense attorney Geoffrey Fieger uses it for his annual office party.

Hockeytown Café is a local favorite. Owner Chris Ilitch, whose holdings also include the Tigers, the Red Wings, and Little Caesars Pizza, has been known to celebrate a victory in the sports bar. “There’s a real camaraderie among sports fans there,” Ilitch says.

Where to get tanked: For a quick pint, Bob Rossiter, chairman and C.E.O. of Lear, and Peter Horbury, executive director of design for Ford, often head to 220 in Birmingham, where antique wood paneling and mismatched chandeliers create the dim ambience of an old Irish pub. “It reminds me of Europe,” says the British-born Horbury. “It’s more relaxed and less precious.”

Where to go off-road: The Henry Ford Museum, in Dearborn, has been around since 1929 and over the years has accumulated such Ameriphernalia as the limousine Kennedy was riding in when he was assassinated (a Lincoln, made by Ford) and a test tube containing Thomas Edison’s last breath. For a more highbrow break, see Diego Rivera’s Detroit Industry mural at the Detroit Institute of Arts, which reopened in November after a $158 million renovation. Richard Manoogian, director of Ford and chairman of Masco, frequents the museum and donated sizably to the renovation.