ATLANTA, Georgia—Monomoy Property Ventures (Monomoy) and Axonic Capital introduced the acquisition of 590 West Peachtree Avenue in Atlanta, Georgia. The property will quickly endure a considerable capital funding program led by Monomoy in partnership with an architect and design workforce, and be repositioned underneath the Marriott Resorts model, Marriott Worldwide’s flagship full-service providing. Monomoy and Axonic have chosen Schulte Hospitality Group because the property administration firm.
“This mission aligns with Monomoy’s monitor report of buying high-quality actual property in rising markets with artistic repositioning potential,” mentioned Kevin Vaughan, founder and managing companion of Monomoy. “Via a significant renovation and conversion to The Marriott Atlanta, we’re excited to create a powerful product-market match for the Atlanta traveler and ship enticing outcomes for our partnership.”
“We’re thrilled to companion with Monomoy to amass this strategic asset that’s primed for a repositioning and rebranding,” mentioned Eric Sitman, managing director at Axonic Capital. “We expect post-renovation we can have a extremely compelling providing for this market at an distinctive foundation and imagine strongly that Schulte is the best lodge supervisor to maximise efficiency.”
The property at present contains 462 guestrooms, together with greater than 20 p.c suites with full kitchenettes, and over 30,000 sq. toes of assembly area. Following the renovation and conversion, the rebranded Marriott Atlanta will be a part of Marriott’s Bonvoy loyalty program and supply upgraded guestrooms, modernized public areas, an “M-Membership”, new meals and beverage ideas, and revitalized assembly and occasion area overlooking Georgia Tech, Emory Hospital, Mercedes-Benz Stadium, and the broader Atlanta central enterprise district. Schulte Hospitality Group will assume accountability for operations and business technique efficient instantly.
“We’re happy to companion with Monomoy and Axonic on this strategically vital Atlanta funding,” mentioned Sam Grabush, chief working officer of Schulte Hospitality Group. “Schulte’s monitor report in full-service branded resorts, conversion, and repositioning initiatives permits us to convey operational experience that maximizes asset worth. Collectively, we are going to elevate the property’s efficiency profile, drive long-term ROI, and strengthen its positioning because the premier full-service Marriott asset within the Atlanta market.”
The renovation scope will embrace complete upgrades throughout guestrooms, suites, and public areas, in addition to the modernization of back-of-house programs to boost operational effectivity and guarantee compliance with Marriott’s model requirements. Cooper Carry has been chosen because the mission’s architect. Development is predicted to begin in late 2026 following the World Cup in Atlanta, with a reopening focused for late 2027 forward of Tremendous Bowl LXII in Atlanta.