Peachtree Hotel Group Acquires 10 Hotels for $183M

ATLANTA — Atlanta-based Peachtree Hotel Group has purchased 10 hotels in the Southeast and Midwest for a combined $183 million. Four hotels are under contract for acquisition and the other six properties are in various stages of development. PHG’s management arm will operate all 10 hotels upon closing, which is expected within the next 60 days. The four properties under contract for acquisition span nearly 600 rooms and include two Hampton Inns, an Aloft and a DoubleTree conversion. The six hotels under development represent nearly 700 rooms across four states and include Marriott, Hilton, IHG and Starwood brand affiliations. Peachtree’s current portfolio comprises 65 hotel assets totaling 6,672 rooms.