Portman Hospitality Fund I, LP buys Westin Peachtree Plaza
The 1,073-key downtown Atlanta hotel will remain under Marriott management while Portman renovates guestrooms, public areas and meeting space before Super Bowl LXII.
Portman Hospitality Fund I, LP acquired Westin Peachtree Plaza, 1,073-key full-service hotel in downtown Atlanta.
Marriott International sold the property and will continue to manage it under a long-term agreement.
The hotel sits in Atlanta’s business and entertainment district near the Georgia World Congress Center, State Farm Arena, Mercedes-Benz Stadium and Centennial Yards.
“Hospitality is in Portman’s DNA,” said Kaunteya Chitnis, Managing Director of Hospitality at Portman.
Terms were not disclosed; Portman’s hospitality portfolio includes eight hotels across five major U.S. markets, more than 4,000 rooms and about $1.5 billion of hospitality assets under management.