Peachtree Senior Vice President Michael Ritz was quoted in an article for Hotel News Now about the path forward for new hotel development in the United States. Ritz gave the developer's perspective on today's market talking about Peachtree's development pipeline and the challenges to getting deals done. Click here to read the full story.
ATLANTA and SAN ANTONIO (Nov. 15, 2024)– Peachtree Group ("Peachtree") celebrated the groundbreaking of a new 171-room studio-suite Residence Inn by Marriott in downtown San Antonio,Texas, near the Riverwalk, set to open in the second quarter of 2026. This development brings an upscale, extended-stay option to the vibrant San Antonio market, offering visitors a combination of comfort, modern amenities and prime access to local attractions.
The new Residence Inn will succeed an older-generation property downtown, taking advantage of a premier location near strong demand drivers, including the leisure appeal of the Riverwalk, educational activity from the expanding University of Texas at San Antonio and corporate and government demand from surrounding office buildings. With this positioning, the hotel aims to meet a range of accommodation needs in San Antonio's dynamic market.
"San Antonio is a unique market with a growing need for extended-stay hotels," said Greg Friedman, managing principal and CEO of Peachtree. "The Residence Inn will cater to the diverse demand drivers of San Antonio, including its thriving tourism sector and extensive corporate presence. Positioned within easy reach of the city's popular attractions, restaurants and business hubs, this hotel will provide guests with a prime location for both work and leisure."
Strategically located within a Qualified Opportunity Zone (QOZ), this project under scores Peachtree's commitment to fostering revitalization and growth in underserved communities. The firm has been one of the more active hotel developers in QOZs, having already opened nine hotels, with another five under construction, including the new Residence Inn, in these designated areas.
“By building within a QOZ, Peachtree's Residence Inn will create lasting economic impacts, from job creation in construction and operations to sparking further interest in nearby retail, dining and entertainment—vital elements for a thriving downtown community," Friedman said. “We are optimistic that Washington, D.C., will recognize the QOZ's impact on job creation and economic activity within these zones and will extend the program, enabling us and other developers to deliver new commercial real estate projects across the U.S.”
Merritt Development Group, an Austin, Texas-based hotel development company, will be responsible for constructing the Residence Inn, which will feature a modern design focused on spacious, home-like amenities, including fully equipped kitchens, separate living areas and workspaces in each suite, accommodating the evolving needs of today's extended-stay travelers and enhancing the hotel’s appeal to business professionals, families and long-term guests seeking comfort and convenience.
An expansive onsite fitness center and outdoor gathering space will further elevate the guest experience, offering a place for relaxation and wellness in a bustling city environment. Additionally, the hotel will provide flexible meeting space to cater to the needs of business guests, making it an attractive venue for corporate gatherings and social events. The hotel will feature a Caribou Coffee, providing an upscale coffee experience for both hotel guests and locals.
"The new Residence Inn will provide guests with a dynamic extended-stay experience uniquely suited to San Antonio's market," Friedman added."Peachtree's commitment to thoughtful development is evident in every aspect of this property, from its modern amenities to its prime location, ensuring it will be a valued addition to the city."
This development marks another milestone for Peachtree in Texas as the firm continues to expand its footprint in key markets nationwide. In October, Peachtree celebrated the groundbreaking of a new 19-story, dual-branded hotel development featuring Marriott brands AC Hotel and Moxy Hotel in Uptown Dallas, Texas. The hotel development will bring 264 upscale rooms, modern amenities and unique lifestyle offerings to the bustling McKinney Avenue corridor. The much-anticipated project promises to elevate the city's hospitality scene and is expected to open in summer 2026. In addition to these two projects, Peachtree currently has nine projects under construction across the U.S., including five in QOZs.
About Peachtree Group
Peachtree Group is avertically 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.
New Full-Service Resort Marks Topping Out in Gulf Shores, Alabama
DDPartners, LLC, Peachtree Group and Woodbine Development Corporation are developing 257-room beachfront destination
GULF SHORES, ALA. (Oct. 29, 2024) – DDPartners, LLC of Birmingham, Alabama, and Marietta, Georgia, Peachtree Group of Atlanta and Woodbine Development Corporation of Dallas celebrated the topping out of Embassy Suites Gulf Shores, a full-service resort overlooking the Gulf of Mexico and its renowned white sand beaches – located in Alabama’s No. 1 tourism destination, the City of Gulf Shores.
The topping out ceremony represents a significant milestone with the placement ofthe final steel beam, signifying the structural completion of the project.
“Today’s topping out serves to celebrate our contractors and construction teams for their efforts to bring this resort to life,” said King Scovell, Managing Partner and Chief Development Officer at Woodbine.
“Since the groundbreaking, these crews have shown up day after day to construct the vision that was cast years ago. We are thankful for their efforts, and we look forward to this being a destination for people to enjoy.”
Embassy Suites Gulf Shores is a joint venture among the three firms. DD Partners and Woodbine are leading development and asset management efforts, and Peachtree will manage operations for the resort upon completion in summer 2025. The architect of record for the project is PFVS, and the contractor is Robins& Morton.
The eight-story property will have 257 all-suite beachfront guest rooms; a lobby bar and restaurant; a rooftop amenity terrace inclusive of a bar and grille, pool deck and an outdoor entertainment venue; and 13,620 square feet of enclosed meeting and pre-function space, including a 7,800-square-foot ballroom. The resort will also have a three-story parking garage and 7,618 square feet of leasable retail space that will include a Starbucks.
“We are thankful for all the people who have come together to make this project happen, including the folks at the City of Gulf Shores, our partners at Woodbine and Peachtree, and the local community – but especially the crews whose skills, strength anddedication have built the bones of this resort. Today, we celebrate their hardwork and what lies ahead for this incredible destination,” said Ron Durham, Co-Founder of DD Partners, a joint venture he formed with Ron Day.
Durham and Day have strong backgrounds in commercial real estate development in the Florida/Alabama Gulf Coast, and they joined forces with Woodbine and Peachtree to pursue the Embassy Suites Gulf Shores opportunity. The team’s collective track record in hospitality and development – as well as DD Partners’ strong relationship with the City of Gulf Shores – resulted in the group closing on the project and beginning construction after many years of pursuit.
“The topping out of Embassy Suites is a testament to what can be achieved through vision and partnership,”said Gulf Shores Mayor Robert Craft. “This transformative project is exactly what we envisioned for our beach area when we adopted Vision 2025. The hotel's high-end amenities and substantial conference space will bolster our shoulderseasons, support local businesses year-round and serve as a catalyst for even more quality redevelopment in Gulf Shores,” said Craft.
Peachtree Group’s CEO and Managing Principal Greg Friedman said, “The next milestone, the opening of our Embassy Suites Gulf Shores, the area's newest full-service resort, will be more than just a grand opening – it will be a game-changer for this local economy. This stunning property will not only attract visitors but will also inject new spending into the community, creating jobs and supporting local businesses. The economic impact will ripple through the city and region, benefiting everyone from the workforce to public services. In Gulf Shores, tourism isn't just about being a top destination – it's about fueling economic growth and creating lasting opportunities for our communities.”
While it boasts plenty of its own amenities, Embassy Suites Gulf Shores will offer guests a great deal o foptions within the area. The property is situated footsteps from the beach as well as the Hangout Music Festival, National Shrimp Festival and NCAA Beach Volleyball Championships. It is also located adjacent to the city’s $15 million beachfront revitalization project, which was completed in 2018 as part of a master plan to enhance the area. Other nearby attractions include Gulf State Park, the Wharf at Orange Beach, Tanger Outlets, more than a dozen championship golf courses and easy access to the sports complexes in Foley.
About Robins & Morton
Robins & Morton is a privately held construction firm based in Birmingham, Alabama, with offices in Charlotte, Dallas, Huntsville, Miami, Nashville, Orlando, Raleigh-Durham, San Antonio, and Tampa. The firm specializes in the construction of healthcare, hospitality, higher education, entertainment, sports and government buildings. Since 1946, the firm has built a reputation as a trusted advisor to clients nationwide by cultivating a high-performing team that values integrity, safety, and innovative thinking. Robins & Morton is consistently ranked as one of the top 100 contractors in the United States, and one of the top 15 in the Southeast. To learn more about Robins & Morton, visit: www.robinsmorton.com.
About DD Partners, LLC
Based out of Birmingham, Alabama, and Marietta, Georgia, DD Partners, LLC was founded by Ron Durham and Ron Day. The team has more than 50 years of commercial real estate acquisition, development, construction, management and disposition experience across the Southeast. DD Partners has been involved in the Embassy resort project since its inception. DD was awarded the contract with the City of Gulf Shores through the RFP process, negotiated the terms and benefits of the Development Agreement with the City, secured the Embassy Suites by Hilton flag for the project and completed the conceptual design of the building before joining forces with hospitality partners Woodbine Development and Peachtree Group.
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.
About Woodbine Development Corporation
Woodbine Development Corporation is a full-service real estate company with more than 50 years of development, investment, acquisition and asset management experience. Since its founding in 1973, Woodbine has been involved in more than $7 billion in commercial real estate development, including resort, resort, mixed-use, office, residential, industrial and master-planned projects throughout the United States. The Dallas-based company offers a depth of hospitality expertise and services, including ground-up development, renovation, repositioning, asset management and ownership for full-service destinations and select-service stays for global and boutique brands alike. Its portfolio also features Woodbine Legacy Investments, an acquisition platform dedicated to the purchase and repositioning of lifestyle resorts, and Woodbine Commercial, a brokerage entity focused on industrial/office. Learn more at www.woodbinedevelopment.com.
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ATLANTA and DALLAS (Oct. 3, 2024) – Peachtree Group (“Peachtree”) celebrated the groundbreaking of a new 19-story, dual-branded hotel development featuring the award-winning Marriott brands, AC Hotel and Moxy Hotel, in the heart of Uptown Dallas. The development will bring 264 upscale rooms, modern amenities and unique lifestyle offerings to the bustling McKinney Avenue corridor. The much-anticipated project promises to elevate the city's hospitality scene and is expected to open in Summer 2026
The property will offer an unmatched blend of comfort, style and convenience, featuring 110 rooms for the AC Hotel and 154 rooms for the Moxy Hotel, providing guests with distinct yet complementary experiences that will be positioned competitively with the premium hotels in the Uptown market.
“Most hotels in Uptown cater to the upper-upscale and luxury segments, leaving the submarket lacking in upscale hotel options to meet the needs of a substantial portion of Uptown's demand,” said Greg Friedman, managing principal and CEO of Peachtree. “Uptown represents one of the highest income and most desirable submarkets within the Dallas market. The dual-branded hotel will be situated in a premier location within the neighborhood, half a block from much of the area’s restaurants, bars and entertainment and easily accessible to numerous corporate demand drivers.”
With its modern design, state-of-the-art amenities and prime location in Uptown Dallas, the hotels are set to become a preferred destination for both business and leisure travelers. Positioned against the vibrant Dallas urban landscape, this dual-branded development will redefine upscale hotel accommodations, attracting visitors and fostering community engagement.
The signature Moxy Bar and Restaurant will greet guests at street level, setting the tone for a fun and energetic atmosphere. An exclusive highlight of the property will be the custom-branded bar and lounge located on the 8th floor, to feature an elevated amenity deck with an outdoor terrace, water features and breathtaking views of Dallas.
"The elevated amenity deck and custom-branded bar will create a unique destination within Uptown Dallas, driving demand from both hotel guests and locals alike," Friedman said. "This dual-branded property is designed to offer a dynamic experience that will stand out in the city’s competitive hospitality market."
Further enhancing the guest experience, the property will include a state-of-the-art fitness center, perfect for active travelers. The property also will boast a 261-stall onsite parking garage, conveniently accommodating hotel guests and visitors to McKinney Avenue’s nearby restaurants and nightlife venues.
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.
