Peachtree Hotel Group Acquires Two Florida Hotels - 0 views
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asianhospitality on 08 Dec 21PEACHTREE HOTEL GROUP recently acquired two upscale hotels in Florida. They are the 207-key AC Hotel Miami Aventura and the 233-key Aloft Miami Aventura, in Aventura, Florida, outside Miami. With these recent acquisitions, Atlanta-based Peachtree, led by partners Bimal Patel, Hiten Suraj and Rupesh Patel, has acquired approximately $2 billion in hotel assets this year. The company expects to continue making opportunistic hotel acquisitions amid the current hospitality recovery cycle. "Our growth strategy since Peachtree's inception is to capitalize on cycle-specific opportunities," said Greg Friedman, Peachtree's CEO. "Today, we are seeing opportunities to acquire hotels at compelling levels, which hasn't been available over the last 15 months. With strengthening economic tailwinds boosting hotel fundamentals and compelling cap rates compared to other asset classes, the lodging sector is among the best real estate classes for investing. Also, with the ongoing inflationary environment, hotels are an excellent hedge against inflation due to daily adjustments in average daily rates."