Avendra
Ownership

Peachtree Increases Footprint With Acquisition Of Seven Hotels

March 25, 2022

ATLANTA–Peachtree Hotel Group (“Peachtree”) continues to capitalize on the hotel industry’s recovery by acquiring seven premium-branded hotels for approximately $135 million. The acquisitions, totaling 829 rooms, include six Hilton hotels and one Marriott hotel. All hotels will be operated by Peachtree Hospitality Management (“PHM”), a division of Peachtree.

“These acquisitions are complementary to our existing portfolio of high-quality, well-located assets with strong demand generators,” said Brian Waldman, Peachtree’s executive vice president, investments. “We experienced an uptick during the second half of 2021 for hotel acquisition opportunities, and these seven properties are a continuation of our strategy to benefit from the ongoing recovery in hospitality.”

The acquired properties include:

“We are excited to add these hotels to our portfolio, furthering our growth and footprint across the country,” said Patrick Short, PHM’s president. “These hotels offer exceptional operational value-add opportunities for potentially decreased expenses and increased efficiencies with our property management takeover.”

As of March 16, 2022, Peachtree manages 81 hotels, across 23 brands with 9,813 rooms located in 18 states.

“The hospitality industry is in a sustained recovery cycle, which is boosting hotel fundamentals,” said Waldman. “We continue to believe hotels, which are an effective inflation-hedging investment, will remain among the strongest real estate sectors for investing.”

Related Articles

Back to top button