A proposed hotel project in downtown Atlanta could bring nearly 400 rooms to a half-acre site near Emory University Midtown Hospital and the Winship Cancer Institute.
The site, at West Peachtree Street and Baltimore Place, is slated for two 12-story hotels under the Hilton and Marriott brands, the Atlanta Business Chronicle reported.
The developer behind the project, using the name Atlanta Hotel Development LLC, is tied to Sneha Mehta of Lawrenceville, the outlet previously reported. The developer acquired the property in 2023 for $8.4 million.
Alpharetta-based Horizon Hospitality Management Inc., led by CEO Nim Patel, is involved in the project, and the architectural design is being handled by BCA-Studios.
One hotel will be flagged under Hilton’s Motto brand, a micro-hotel concept, while the other will operate as a Marriott TownePlace Suites, an extended-stay option.
The area where the hotels are planned has long struggled to attract significant investment compared to other parts of Downtown Atlanta. The site sits adjacent to Baltimore Row, Atlanta’s oldest apartments, and south of Midtown.
While the property has seen multiple unrealized proposals over the years, this latest plan could mark a turning point for the site. If the dual-hotel project secures approval from the Atlanta City Council, it would add to the growing number of hospitality developments in the region.
The Centennial Yards project, which is redeveloping The Gulch, includes plans for three new hotels, including Hotel Phoenix. Additionally, a Moxy hotel is under construction downtown.
Despite the number of ongoing projects, the downtown hospitality market has seen its share of distress.
A 119-key Hamilton hotel in Alpharetta was acquired by the Peachtree Group last July in a credit bid at auction for $42 million. The winning bid came in at $353,000 per key.
Monty Bennett’s Ashford Hospitality Trust put 12 hotel properties on the market as part of a broader strategy to manage debt and optimize asset valuations. The listing included the 440-key Ritz-Carlton Atlanta.
Despite challenges in Atlanta’s hospitality market, investment interest remains. For instance, Mit Shah’s Noble Investment Group has raised $1 billion from 25 investors to buy up distressed hotels across the Sun Belt, including Atlanta.
— Andrew Terrell
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