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Peachtree adds to portfolio
Peachtree Hotel Group (PHG), the Atlanta-based chain, has added three more sites to its portfolio.
The firm acquired, and now manages, the 116-bedroom Four Points by Sheraton in San Antonio, Texas.
PHG also acquired two first mortgage notes: SpringHill Suites by Marriot in a Philadelphia suburb and a Holiday Inn Express in Birmingham, Alabama. The latter is now managed by PHG.
The total value of the three acquisitions exceeded US$20m.
Greg Friedman, chief executive, said: "These are all attractive properties and investment opportunities in quality markets. We are excited to add these hotels to our growing portfolio."
PHG currently owns and operates 1,154 rooms in 13 US properties.
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