Portman announced that its Portman Hospitality Fund I has acquired the Westin Peachtree Plaza, a 1,073-room hotel in downtown Atlanta.
The sale was from Marriott International, and the hotel will continue operating under a long-term management agreement with Marriott.
The 73-story cylindrical tower, originally designed by Portman's founder, opened in 1976 as the tallest hotel in the world.
Portman plans a comprehensive renovation before Super Bowl LXII in 2028.
With this acquisition, Portman's hospitality portfolio includes eight hotels across five major U.S. markets, totaling over 4,000 rooms and approximately $1.5 billion in assets under management.
