ATLANTA — Portman has acquired the Westin Peachtree Plaza, a 73-story, cylindrically shaped hotel in downtown Atlanta. Marriott International Inc. (NASDAQ: MAR) sold the 1,073-room, full-service hotel but will continue to operate it under Portman’s ownership.
“Marriott International has maintained a strong, long-standing relationship with Portman, and we are confident in their ability to realize the full potential of the iconic Westin Peachtree Plaza in the years ahead,” says Cameron Read, CFO for the United States and Canada at Marriott International. “We look forward to continuing to work closely with Portman through our ongoing management of the hotel.”
Portman, a real estate development, investment and management firm based in Atlanta, purchased the hotel via its Portman Hospitality Fund I LP. The sales price was not disclosed.
The acquisition was a full-circle moment for Portman as Westin Peachtree Plaza was delivered in 1976 by John C. Portman Jr., founder of the Portman company and a world-renowned architect best known for designing high-end, futuristic hospitality properties. His work includes designing the Atlanta and New York Marriott Marquis hotels; Renaissance Center, Detroit; Hyatt Regency San Francisco; Portman Ritz-Carlton Shanghai; and the Westin Bonaventure Hotel & Suites Los Angeles, among others.
“Hospitality is in Portman’s DNA,” says Kaunteya Chitnis, managing director of hospitality at Portman. “The Westin Peachtree Plaza is exactly the kind of asset we built the fund to capture: a world-class brand, irreplaceable downtown real estate and a clear repositioning path that we have the in-house expertise to execute.”
Portman will launch a full renovation of the Westin Peachtree Plaza’s guest rooms, public spaces and meeting facilities prior to Super Bowl LXII, which will be played at the nearby Mercedes-Benz Stadium in February 2028.
Including this acquisition and the purchase of the Westin Cincinnati last year, Portman’s hospitality portfolio now includes eight hotels across five major U.S. markets, totaling more than 4,000 rooms and approximately $1.5 billion in hospitality assets under management. The company is also the master developer of the 700-key Marriott Cincinnati convention headquarters hotel, which is scheduled to break ground this summer and will anchor the city’s $828 million Convention District redevelopment.
Marriott International operates approximately 9,900 hotels across 146 countries as of March 31, 2026. The Bethesda, Md.-based company’s stock price closed on Thursday, May 21 at $370.56 per share, up from $260.69 a year ago, a 42.1 percent increase.
— John Nelson