Portman Acquires Atlanta Landmark Hotel
This property once ranked as the world’s tallest hospitality tower.
Portman has acquired The Westin Peachtree Plaza, a 1,073-key full-service hotel in downtown Atlanta, through its Portman Hospitality Fund I. Marriott International sold the asset but will continue to manage the property under a long-term agreement.
This is the first purchase for the investment vehicle that focuses on value-add, large-scale hospitality assets in major U.S. markets. As part of this strategy, Portman will renovate and reposition the properties in-house through its vertically integrated platform.
The Westin Peachtree Plaza’s purchase brought the company’s hospitality portfolio to eight hotels in five major U.S. markets, totaling more than 4,000 keys. However, this acquisition has a special meaning for Portman, as the hotel was designed and developed by the firm’s founder, John Portman Jr.
One of Atlanta’s most recognizable landmarks
The 73-story cylindrical tower opened in 1976 as The Peachtree Plaza Hotel, under the management of Western International Hotels—rebranded later as Westin Hotels. It was, at the time, the tallest hospitality building in the world.
Currently the tallest hotel in the state of Georgia, the skyscraper rises 723 feet at 210 Peachtree St. NW in Atlanta’s business and entertainment district. The location is near the Georgia World Congress Center, State Farm Arena, Mercedes-Benz Stadium and the Centennial Yards development.
The building has a seven-story podium base that houses a 90-foot, sky-lit lobby, as well as meeting, dining and recreation spaces featuring two ballrooms, a fitness center and a heated pool. The tower also includes a three-level revolving restaurant on its topmost floors.
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The Westin Peachtree Plaza has undergone multiple renovations over the years. Most recently, it benefited from a comprehensive, $70 million makeover completed in 2014, which brought improvements to the guestrooms, lobby and dining areas. The project’s team included architecture firm Cooper Cary, interior designer Carolyn Auger of blackdog studio and contractor Balfour Beatty.
Portman intends to further renovate the hotel, targeting its guestrooms, public spaces and meeting areas. This revamp is slated for completion prior to the 2028 Super Bowl.
Atlanta’s hospitality play
As it is preparing to host not only the Super Bowl, but also eight matches of the 2026 FIFA World Cup this summer, development activity is booming in Greater Atlanta’s hospitality sector. There were more than 1,900 hotel guestrooms under construction in the metro in the first quarter of this year, according to a report from Colliers.
And that number is about to grow even larger, as CIM Group and Centennial Yards Co., along with the Drew Co., announced the intention to develop a 261-key Virgin Hotel. Upon its 2027 completion, the property will anchor the Centennial Yards Entertainment District.
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