Machine Investment Group and Lionshead Capital Partners have purchased the Atlanta Airport Marriott, a full-service hotel with 641 rooms beside Hartsfield-Jackson Atlanta International Airport, US.
White Label Asset Management has been appointed asset manager for the hotel.
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White Label Asset Management CEO and Lionshead Capital Partners co-founder Jonathon Vopinek said: “The Atlanta Airport Marriott is the premier group and meeting destination in the country’s busiest airport market, with a scale of event space that is very hard to replicate.
“Our plan centres on a significant renovation of the meeting and event space paired with hands-on asset management to realise the property’s full potential.”
The property is a 16-storey building on a 16-acre plot.
It has 641 rooms and suites, 30,178ft² of indoor meeting space, including a 9,928ft² ballroom, an indoor/outdoor swimming pool area, a fitness centre and six pickleball courts.
The deal comes as Hartsfield-Jackson Atlanta International Airport continues its $11.5bn expansion project.
The new owners intend to carry out a broad capital works programme at the hotel.
The planned works will affect most of the site, including the exterior, entrance area, rooms, meeting and events space, food and drink areas, and technology systems.
The rooms were last upgraded in 2017.
The latest works aim to improve the hotel’s overall guest experience.
Machine Investment Group co-founder and managing partner Eric Rosenthal said: “Our firm is excited about this acquisition as it aligns well with our opportunistic investment strategy: a strategically located institutional asset with strong cash flow that we were able to acquire at a heavily reset basis.
“We now have the opportunity to execute a value-add business plan centred on enhancing the hotel’s physical quality, elevating the guest experience and further strengthening the operational platform.”
