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
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.
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