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December 8, 2021updated 07 Jan 2022 7:46am

Peachtree buys two Marriott-branded lifestyle hotels in Florida, US

This year, Peachtree has purchased around $2.0bn in hotel assets so far.

Real estate private equity investment firm Peachtree Hotel Group has completed the acquisition of two Marriott-branded lifestyle hotels in Florida, US.

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The properties are the AC Hotel Miami Aventura and the Aloft Miami Aventura, in Aventura, Florida.

The AC Hotel Miami Aventura, which is located at 20805 Biscayne Blvd, features 207 rooms and opened in 2017.

The Aloft Miami Aventura on NE 207th Street opened in 2018 and has 233 rooms.

Both these hotels are located close to the Aventura Mall, the Aventura Arts & Cultural Center and the Aventura Hospital & Medical Center.

Financial terms of the transaction are not disclosed.

The two hotels will be operated by Peachtree Hospitality Management (PHM) division.

Peachtree CEO said Greg Friedman said: “Our growth strategy since Peachtree’s inception is to capitalise on cycle-specific opportunities. Today, we are seeing opportunities to acquire hotels at compelling levels, which hasn’t been available over the last 15 months.

“With strengthening economic tailwinds boosting hotel fundamentals and compelling cap rates compared to other asset classes, the lodging sector is among the best real estate classes for investing. Also, with the ongoing inflationary environment, hotels are an excellent hedge against inflation due to daily adjustments in average daily rates.”

The deal comes just a few weeks after Peachtree purchased the 81-room Hampton Inn & Suites and the 60-room La Bellasera Hotel & Suites in Paso Robles, California.

The company has bought hotel assets worth approximately $2.0bn this year.

In June this year, Peachtree opened the dual-flag Hilton Garden Inn Orlando Downtown and Home2 Suites by Hilton Orlando Downtown in Florida, the US.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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