Marriott Sells 1,073-Room Westin Peachtree Plaza, Retains Management
MAR•Portman Hospitality Fund I has purchased the 1,073-room Westin Peachtree Plaza in downtown Atlanta from Marriott, with Marriott retaining operation under a long-term management contract. The landmark hotel is slated for comprehensive guest room, meeting facility and public space renovations ahead of Super Bowl LXII in 2028.
1. Asset Sale and Management Deal
Marriott has sold the 1,073-room Westin Peachtree Plaza in downtown Atlanta to Portman Hospitality Fund I, while entering a long-term management agreement to continue operating the property. The transaction removes the asset from Marriott’s real estate holdings but preserves its service and brand presence on site.
2. Planned Renovations Ahead of Super Bowl LXII
The iconic tower, originally designed by John Portman Jr. and located near the Georgia World Congress Center and State Farm Arena, will undergo comprehensive upgrades to guest rooms, meeting facilities and public spaces. Renovations are targeted for completion before Super Bowl LXII in 2028 to capture elevated demand.
3. Strategic Implications for Marriott
This sale aligns with Marriott’s asset-light strategy, unlocking capital from a single asset while maintaining a stable revenue stream through management fees. The deal also reinforces Marriott’s long-standing partnership with Portman, enhancing its ability to focus on core brand operations and service standards.
