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THE MANAGING PRINCIPALS of Atlanta-based Peachtree Hotel Group are forming a new company, Peachtree Group, to oversee its investment portfolio. Peachtree's hospitality division includes Peachtree Hotel Group, Peachtree Hospitality Management and Peachtree Hospitality Development. The new company will manage and control investments and direct investment strategies across different divisions, including hospitality, commercial lending, residential development and capital markets, the company said in a statement. The company is expanding in those areas, said Greg Friedman, Peachtree's CEO and managing principal. "The expanded breadth of investment types we are undertaking warranted the formation of Peachtree Group without hotel in the moniker," Friedman said. "This transformative structure provides a significant opportunity to unlock the full potential of our integrated real estate investment platform that has served us well in the hospitality sector to expand into other real estate sectors and businesses.

PEACHTREE GROUP RECENTLY signed a long-term agreement with Southfield, Michigan-based Group 10 Management, adding 14 hotels and 1,648 rooms to its managed portfolio. This expansion brings Peachtree's total managed properties to more than 100, primarily Marriott, Hilton, and IHG-branded hotels in the metro Detroit area, Peachtree said in a statement. Peachtree is led by CEO and managing principal Greg Friedman, CFO and managing principal Jatin Desai, and principal Mitul Patel. "Our extensive experience in hotel operations allows us to partner with Group 10 to elevate third-party management," said Vickie Callahan, president of Peachtree's hospitality management division. "A substantial portion of Peachtree Group's portfolio is third-party managed, underscoring our commitment to delivering strong financial results for our partners and exceptional guest experiences." Peachtree's hospitality management division operates limited-, select-, and full-service hotels, primarily in the upper-midscale and upscale segments, the statement said. The division now manages 107 hotels across 27 brands, totaling 13,485 rooms in 27 states, including Washington, D.C. With the Group 10 addition, Peachtree's third-party management portfolio expands to 31 hotels.

Vickie Callahan is now president of Peachtree Group's management division, after serving as senior vice president for revenue generation. In her new role, she will oversee the company's 88 hotels across 27 brands, totaling 11,173 rooms in 23 states and Washington, DC, Peachtree said in a statement. "Since joining us in 2020 as senior vice president, revenue generation, Vickie has been an invaluable member of our team," said Greg Friedman, Peachtree Group's managing principal and CEO. "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." Peachtree is led by Friedman, Jatin Desai as managing principal and CFO, and Mitul Patel as principal.

PEACHTREE GROUP, THE newly formed affiliate of Peachtree Hotel Group created last week to handle its real estate investments, is launching its first initiative, the 1031 Exchange Delaware Statutory Trust program. The company also selected Tim Witt as president over the new program. A DST is a single-purpose entity qualified for Section 1031 real estate exchanges, according to Peachtree. It allows investors to exchange replacement properties without incurring taxable gain on the sale of previously owned assets. Peachtree's 1031 Exchange DST program will invest in institutional-grade hotels in the U.S. through Peachtree Hospitality Management, another division of Peachtree, is expected to operate any properties acquired as part of the exchange. "As we expand our array of high-quality, diversified investment strategies, we wanted to create 1031 Exchange DSTs to provide tax deferral strategies in the hospitality sector," said Greg Friedman, Peachtree's CEO and managing principal. "We anticipate significant growth and appreciation in the hospitality sector, driving values above pre-pandemic levels. Also, real estate offers an excellent alternative investment channel for those seeking an inflation hedge. We strongly believe hospitality is the most investable asset in the market today, and we anticipate being able to achieve outsized returns."

PEACHTREE GROUP AIMS to expand its film financing division, Peachtree Media Partners, recently premiering its financed film "The Surfer," starring Nicholas Cage, at Cannes Film Festival. The company already financed nearly a dozen films, with investments ranging from $5 million to $50 million. Peachtree Media Partners is led by Joshua Harris as its managing partner. The firm has a more than $10 billion investment track record and targets mispriced risk in traditional opportunities, including TV and film financing, Peachtree said in a statement. "Our increased activity in movie and television financing represents a natural progression of our capabilities and interests," said Greg Friedman, Peachtree's managing principal and CEO. "We recognize the unique challenges and opportunities within the entertainment industry, especially in an era where content creation is rapidly evolving. We aim to support producers and creators with tailored financial solutions that align with their vision and project needs."

PEACHTREE GROUP RECENTLY launched a restaurant management division to operate quick-service restaurants, starting with coffee shops at hospitals, universities, and other high-traffic locations. The venture, led by Daniel Puglisi, senior vice president of corporate operations in Peachtree's hospitality management division, began with a partnership with AdventHealth, opening a Starbucks at AdventHealth Orlando. Peachtree is in talks with other coffee franchises to expand into high-demand markets with captive audiences, aiming to build a strong nationwide portfolio of quick-service coffee shop locations, the company said in a statement. "Since our founding in 2007, we have consistently grown by identifying inefficient markets and capitalizing on them to achieve strong returns and build sustainable businesses," said Greg Friedman, Peachtree Group's managing principal and CEO. "Expanding into restaurants from our existing hospitality management capabilities was a natural evolution. Our partnership with AdventHealth marks a significant milestone as we look to replicate this successful model across their network and other prime locations."

Steve Mackenzie is now executive vice president of hotel operations at Peachtree Group's hospitality management division. In this role, he will oversee the financial performance of Peachtree's hotel portfolio, ensure adherence to franchise procedures, regulations and standards, and foster company culture and team growth, Peachtree said in a statement. Peachtree is led by Greg Friedman as managing principal and CEO, Jatin Desai as managing principal and CFO and Mitul Patel as Principal. "Steve has been instrumental in the exceptional growth and results of our hospitality management portfolio over the past six years," said Vickie Callahan, Peachtree's hospitality management division president. "His leadership will continue to guide the team as we grow our portfolio."

PEACHTREE HOTEL GROUP continues to restructure itself, now with two changes to its leadership. Brian Waldman, previously chief investment officer for the company is now filling the same role for the company's newly formed subsidiary Peachtree Group. Also, Jeremy Stoler joins the company as executive vice president of debt capital markets. Waldman will manage Peachtree's multi-billion-dollar investment portfolio and direct investment strategies across its operating, lending and real estate divisions, according to the company. Stoler will support Peachtree's operating companies and growth into other real estate sectors. "With Brian and Jeremy, we are fortunate to have extremely talented, respected leaders who are highly experienced and energized to drive our growth," said Greg Friedman, Peachtree's CEO and managing principal. "These announcements also come at a pivotal time for Peachtree as we further position ourselves to expand into other real estate sectors and businesses."

PEACHTREE HOTEL GROUP added seven hotels to its portfolio this week for $135 million. Three of the hotels also are part of Peachtree's third investment partnerships with San Mateo, California-based Verakin Capital led by partners Rupesh and Bimal Patel and Hiten Suraj. The new acquisitions include 829 rooms and are in five different states, according to Peachtree and its management division Peachtree Hospitality Management, which will operate all seven hotels. The new hotels are: The dual-brand Hilton Garden Inn Phoenix Tempe, University Research Park, 120 rooms, and Home2 Suites by Hilton Phoenix Tempe, University Research Park, 108 rooms, in Tempe, Arizona, which were built in 2017. Aloft Hillsboro-Beaverton in Hillsboro, Oregon, 137 rooms, built in 2017. Hilton Garden Inn Casper, 121 rooms in Casper, Wyoming, built in 2008. Home2 Suites by Hilton Eugene Downtown University Area, in Eugene, Oregon, 120 rooms, built in 2016. Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, Pennsylvania, 119 rooms, built in 2013. Hilton Garden Inn West Lafayette Wabash Landing in West Lafayette, Indiana, 104 rooms, built in 2003.

PEACHTREE GROUP RECENTLY acquired the AC Hotel Park City in Utah, its sixth hotel acquisition this year, bringing the total to 789 rooms. The company is predicting more growth over the next two years. Peachtree is led by Greg Friedman, CEO and managing principal; Jatin Desai, CFO and managing principal; and Mitul Patel, principal. "Our team has successfully acquired a number of hotel properties at below-market prices, taking advantage of the current slowdown in transactions," said Friedman. "While the market is slower than usual due to high interest rates, tighter lending conditions, economic and geopolitical uncertainty, we continue to remain active, capitalizing on unique opportunities that arise in this environment while employing multiple strategies that allow us to capitalize on the current market dislocation. By staying patient and strategic, we've been able to secure valuable assets while others take a more cautious approach." Peachtree's portfolio includes three Hilton and three Marriott hotels, all managed by Peachtree's hospitality division, which oversees 93 hotels across 27 brands, totaling 11,837 rooms in 26 states.

Peachtree Group's hospitality management division was recently selected to manage the Merrill Hotel, Muscatine in Iowa. The hotel has 122 guest rooms, 13,000 square feet of meeting and event space, a heated indoor saltwater pool, and a fitness center, Peachtree said in a statement. "We're truly delighted to have been chosen by Jim and Rebecca Howe to be the hotel's management operator," said Patrick Short, Peachtree's president for hospitality management. "The Howe family embodies a steadfast dedication to unparalleled hospitality experiences. We will carry on their commitment to excellence by delivering exceptional guest experiences, enhancing and elevating the hotel's reputation while generating results commensurate with this exceptional hotel's status, which continues to serve as one of the city's economic foundations." The hotel was opened in March 2018 along the Mississippi River in downtown Muscatine and is located near cities like Davenport and Bettendorf in Iowa, and Rock Island and Moline/East Moline in Illinois, the statement said.

PEACHTREE HOSPITALITY MANAGEMENT has contracted with TEKMAK Development Co., a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio. The three hotels are all in Texas. PHM will assume operations of the SpringHill Suites Dallas Rockwall in Rockwall, Texas, on Aug. 1, and is slated to manage two under-construction hotels, a dual-branded TownePlace Suites by Marriott and Fairfield by Marriott in Paris, Texas, and a TownePlace Suites by Marriott in Forney, Texas, the company said in a statement. "This is the second long-term management agreement we've entered into already in 2023, and we will continue to seek best-in-class partners like TEKMAK as we pursue our own third-party management growth goals," said Patrick Short, PHM president. "Our third-party operated portfolio continues to expand, currently accounting for nearly a third of our entire managed portfolio. We expect to continue growing our third-party portfolio moving forward, ultimately surpassing our owned hotels." A division of Peachtree Group, which is led by Jatin Desai and Mitul Patel as managing principals, PHM operates branded, limited-, select- and compact full-service hotels primarily in the upper-midscale and upscale segments. The company presently manages 92 hotels across 28 brands with 11,186 rooms in 22 states. These three TEKMAK hotels increase PHM's third-party operations to 34 hotels, the statement added.