Peachtree Group ("Peachtree") announced the acquisition of the 180-room Hilton Garden Inn Denver Tech Center in Denver, Colo. Peachtree's hospitality management team will operate the property.
The seven-story hotel is ideally located in the heart of the Denver Tech Center, one of the Denver MSA's prominent employment hubs and the largest office submarket outside of the Central Business District, with 8.8 million sq. ft. of Class-A space. The area is situated near the intersection of Interstate 25 and Interstate 225, providing direct access to the Denver CBD and Denver International Airport.
The hotel further benefits from its proximity to the under-development Bellview Station, a 50+ acre, transit-oriented, mixed-use development. Upon completion, Bellview Station will comprise 2.2 million sq. ft. of Class-A office, 300,000 sq. ft. of retail; 1,800 high-end residential units and 5.0+ acres of green space. Prominent area employers include Comcast, Oracle, Microsoft, Zoom, Charles Schwab, Fidelity Investments, Newmont Mining and Western Union. The Bellview RTD light rail station provides direct commuter access to Union Station and Denver International Airport.
"We are excited to acquire this premium-branded hotel in a growing submarket with a variety of diverse and stable demand generators," said Michael Bernath, Peachtree's senior vice president, acquisitions. "The Denver economy is well diversified, with the city gaining recognition as a burgeoning tech hub. We believe the expansion of the R-Line, increased connectivity of the area and the completion of the transformative Bellview Station development will continue to make the Denver Tech Center an attractive destination for consumers and corporations alike."
The hotel was last renovated in 2014. Peachtree will make substantial investments in the property, with comprehensive upgrades and enhancements to the entirety of the property, including the exterior, lobby area, bar and lounge, meeting rooms, guestrooms, guest baths, corridors, elevators and stairwells.
"Upon renovation, the hotel will be the newest renovated property in the area and will be positioned to command a significant premium in daily rates," Bernath said.
The Hilton Garden Inn Denver Tech Center marks Peachtree's second hotel in Denver, following its ownership of the Element Denver Park Meadows in Lone Tree.
The financial terms of the transactions were not disclosed.
Peachtree Group is an investment firm driving growth with a diverse portfolio of commercial real estate assets and other ventures. We’ve executed hundreds of investments since inception with a focus on real estate acquisition, development, and lending. Today, we manage billions in equity, augmented by services designed to protect, support, and grow our investments.
Peachtree GroupExpands Third-Party Hotel Management Business with New Partnership with Group10 Management
14 New HotelsAdded to Portfolio, Exceeding 100 Hotels Under Management
ATLANTA (Nov. 6, 2024) – Peachtree Group (“Peachtree”) has announced a long-term partnership with Southfield, Michigan-based Group 10 Management (“Group 10”), expanding its managed portfolio with 14 new hotels totaling 1,648 rooms. This milestone growth pushes Peachtree's total managed operations beyond 100 hotels and solidifies its position as a leading third-party hotel manager. The properties are primarily Marriott, Hilton and IHG-branded hotels and are predominantly located in themetro Detroit area.
“Our extensive experience in hotel operations allows us to partner with Group 10 to take third-party management to a whole new level,” said Vickie Callahan, President of Peachtree’s Hospitality Management Division. “A substantial portion of Peachtree Group’s portfoliois third-party managed, underscoring our commitment to driving strong financial results for our partners while providing exceptional guest experiences.”
Peachtree’s hospitality management division operates premium-branded, limited-, select- andcompact full-service hotels primarily within the upper-midscale and upscale segments. The division now manages 107 hotels across 27 brands totaling 13,485 rooms in 27 states, including Washington D.C. With the addition of the Group 10 properties, Peachtree’s third-party management portfolio expands to 31 hotels.
Through this partnership, Group 10 will benefit from Peachtree’s extensive expertise in compliance with brand standards, scalable operating efficiencies, skilled talent acquisition, digital and marketing initiatives, renovation expertise and other cost-saving measures across the portfolio.
“Peachtree’s expanded portfolio further emphasizes its dedication to delivering high-quality service and operational excellence for partners and guests across the U.S.,”Callahan added.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
ATLANTA (Sept. 3, 2024) – Peachtree Group ("Peachtree") today announced the promotion of Steve Mackenzie to executive vice president of hotel operations in the firm's hospitality management division. In his expanded role, Mackenzie will assume a central role overseeing Peachtree's hotel portfolio financial performance while ensuring franchise procedures, regulations and standards are adhered to while growing company culture and teams.
"Steve has been instrumental in the exceptional growth and results of our hospitality management portfolio over the past six years," said Vickie Callahan, president of Peachtree’s hospitality management division." His leadership will continue to guide the team as we grow our portfolio."
With twenty-five-plus years of hospitality experience, Mackenzie most recently served as area director for Hilton Worldwide, where he provided operational oversight of company-managed properties in Florida, which includes Embassy Suites, Hilton Garden Inn, Homewood and Hamptons. He has held multiple industry operational roles, including vice president of operations with Harris Hotel Group and area general manager with Greenpark Management. He has overseen multiple award-winning Hilton properties, winning such accolades as Full-Service Hotel of the Year, Circle of Excellence, the Lighthouse Award and the Connie.
"Peachtree has an aggressive appetite for growth, and I cannot wait to expand my role and continue to build the brand and the portfolio," Mackenzie said.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
Contact:
Charles Talbert
678-823-7683
ctalbert@peachtreegroup.com
.jpg)
ATLANTA (Aug. 7, 2024) – Peachtree Group ("Peachtree") today announced that Vickie Callahan has been promoted to president of the firm's hospitality management division. In her new role, Callahan will oversee the company's portfolio of owned and third-party managed hotels, totaling 88 hotels across 27 brands and 11,173 rooms in 23 states and Washington, D.C.
.jpeg)
"Since joining us in 2020 as senior vice president of revenue generation, Vickie has been an invaluable member of our team," said Greg Friedman, managing principal and CEO of Peachtree Group. "Vickie has successfully guided us through the pandemic's challenges with her strategic insights and ability to optimize our hotel revenues. Vickie's leadership will continue to be crucial as we navigate the evolving travel and hospitality landscape and deliver exceptional value to our guests and stakeholders."
A 25-plus-year hospitality veteran, Callahan previously held vice-president of revenue management positions with Atrium Hospitality and JQH Hotels. At the latter, she was responsible for developing a multi-branded revenue management platform. Before that, she held various sales, marketing, and revenue management executive committee positions with Starwood Hotels and Resorts, managing all levels of hotels, from boutique all-suite properties and convention hotels to "five diamond" resorts.
Callahan serves on the Marriott Revenue Management Franchise Advisory Board and engages with multiple committees to enhance hotel sales and revenue management disciplines.
"I am excited to lead the thousands of dedicated hospitality team members across Peachtree's coast-to-coast hotel operations and deeply appreciate the confidence placed in me. I am committed to driving growth and maintaining operational excellence to contribute to the organization's overall success," Callahan said.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.