Posted 2/4/2013 - 9:59:00 AM
ATLANTA—Peachtree Hotel Group closed out 2012 with its 31st acquisition in 24 months and expects to grow by 15 or more hotels this year.
The company's most recent acquisition was the portfolio purchase of two non-performing hotel first mortgage notes—the 135-room Hilton Garden Inn-Virginia and the 60-room Best Western-Florida—from a regional bank.
Company executives also expect to add one to three hotels per month for the next 12 to 18 months.
Peachtree has a diversified ownership and third-party management portfolio and targets brands in the select- and limited-service segments.
The company also is expanding its third-party management division, recently adding its third management contract, the 80-room Holiday Inn Express in Prattville, AL.