ATLANTA, Georgia—Portman announced that Portman Hospitality Fund I, LP, has acquired the Westin Peachtree Plaza, a 1,073-key full-service hotel in downtown Atlanta, Georgia, from Marriott International. The hotel will remain in Marriott’s portfolio under a long-term management agreement.
Portman will execute the strategy in-house through its vertically integrated platform spanning design, development, capex, and hotel operations.
The acquisition of the Westin Peachtree Plaza is particularly notable for Portman, as it was originally designed and developed by the firm’s founder, John C. Portman, Jr. When it opened in 1976, the 73-story cylindrical tower was the tallest hotel in the world. The building’s signature mirror-glass facade rises 723 feet above downtown Atlanta in the city’s business and entertainment district, near the Georgia World Congress Center, State Farm Arena, Mercedes-Benz Stadium, and the Centennial Yards development.
Portman will launch a comprehensive renovation that will reposition the Westin Peachtree Plaza’s guestrooms, public spaces, and meeting facilities before Super Bowl LXII in 2028.
Statements From Leadership
“The fund reflects Portman’s continued focus on creating long-term value through disciplined investment strategies that build on our deep real estate experience,” said Ambrish Baisiwala, chairman and chief executive officer of Portman. “As we continue to grow and diversify our investment platform, we remain focused on opportunities where active ownership, strategic reinvestment, and a long-term perspective can create meaningful value for investors and the communities we serve.”
“Hospitality is in Portman’s DNA,” said Kaunteya Chitnis, Managing Director of Hospitality at Portman. “Our fund’s strategy is designed to capitalize on structural shifts in the market, especially as irreplaceable assets in major U.S. cities enter a renovation cycle. The Westin Peachtree Plaza is exactly the kind of asset we built the fund to capture: a world-class brand, irreplaceable downtown real estate and a clear repositioning path that we have the in-house expertise to execute.”
“Marriott International has maintained a strong, long-standing relationship with Portman, and we are confident in their ability to realize the full potential of the iconic Westin Peachtree Plaza in the years ahead,” said Cameron Read, Chief Financial Officer, U.S. and Canada, Marriott International. “We look forward to continuing to work closely with Portman through our ongoing management of the hotel.”
