ATLANTA and SAN ANTONIO (Nov. 15, 2024)– Peachtree Group ("Peachtree") celebrated the groundbreaking of a new 171-room studio-suite Residence Inn by Marriott in downtown San Antonio,Texas, near the Riverwalk, set to open in the second quarter of 2026. This development brings an upscale, extended-stay option to the vibrant San Antonio market, offering visitors a combination of comfort, modern amenities and prime access to local attractions.
The new Residence Inn will succeed an older-generation property downtown, taking advantage of a premier location near strong demand drivers, including the leisure appeal of the Riverwalk, educational activity from the expanding University of Texas at San Antonio and corporate and government demand from surrounding office buildings. With this positioning, the hotel aims to meet a range of accommodation needs in San Antonio's dynamic market.
"San Antonio is a unique market with a growing need for extended-stay hotels," said Greg Friedman, managing principal and CEO of Peachtree. "The Residence Inn will cater to the diverse demand drivers of San Antonio, including its thriving tourism sector and extensive corporate presence. Positioned within easy reach of the city's popular attractions, restaurants and business hubs, this hotel will provide guests with a prime location for both work and leisure."
Strategically located within a Qualified Opportunity Zone (QOZ), this project under scores Peachtree's commitment to fostering revitalization and growth in underserved communities. The firm has been one of the more active hotel developers in QOZs, having already opened nine hotels, with another five under construction, including the new Residence Inn, in these designated areas.
“By building within a QOZ, Peachtree's Residence Inn will create lasting economic impacts, from job creation in construction and operations to sparking further interest in nearby retail, dining and entertainment—vital elements for a thriving downtown community," Friedman said. “We are optimistic that Washington, D.C., will recognize the QOZ's impact on job creation and economic activity within these zones and will extend the program, enabling us and other developers to deliver new commercial real estate projects across the U.S.”
Merritt Development Group, an Austin, Texas-based hotel development company, will be responsible for constructing the Residence Inn, which will feature a modern design focused on spacious, home-like amenities, including fully equipped kitchens, separate living areas and workspaces in each suite, accommodating the evolving needs of today's extended-stay travelers and enhancing the hotel’s appeal to business professionals, families and long-term guests seeking comfort and convenience.
An expansive onsite fitness center and outdoor gathering space will further elevate the guest experience, offering a place for relaxation and wellness in a bustling city environment. Additionally, the hotel will provide flexible meeting space to cater to the needs of business guests, making it an attractive venue for corporate gatherings and social events. The hotel will feature a Caribou Coffee, providing an upscale coffee experience for both hotel guests and locals.
"The new Residence Inn will provide guests with a dynamic extended-stay experience uniquely suited to San Antonio's market," Friedman added."Peachtree's commitment to thoughtful development is evident in every aspect of this property, from its modern amenities to its prime location, ensuring it will be a valued addition to the city."
This development marks another milestone for Peachtree in Texas as the firm continues to expand its footprint in key markets nationwide. In October, Peachtree celebrated the groundbreaking of a new 19-story, dual-branded hotel development featuring Marriott brands AC Hotel and Moxy Hotel in Uptown Dallas, Texas. The hotel development will bring 264 upscale rooms, modern amenities and unique lifestyle offerings to the bustling McKinney Avenue corridor. The much-anticipated project promises to elevate the city's hospitality scene and is expected to open in summer 2026. In addition to these two projects, Peachtree currently has nine projects under construction across the U.S., including five in QOZs.
About Peachtree Group
Peachtree Group is avertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
ATLANTA(Nov. 3, 2025) - Peachtree Group (“Peachtree”) today announced that its hotel development portfolio has exceeded $2 billion nationwide, a significant milestone underscoring its ability to deliver large-scale projects in one of the most challenging hospitality investment environments.
According to a recent survey by the American Hotel & Lodging Association, many hotel developers are delaying or scaling back projects, with some shelving them altogether. Despite this trend, Peachtree has continued to advance its pipeline, with. This milestone highlights the firm’s scale, execution capabilities and commitment to delivering projects when much of the industry is pulling back.
The firm’s largest property to open its doors in 2025, the Embassy Suites Beach Resort in Gulf Shores, Ala., features 257 all-suite guest rooms overlooking the white sands of the Gulf Coast. The eight-story hotel delivers a true beachfront experience with sweeping water views, distinctive food and beverage options and resort-style amenities.
In Dallas, construction teams celebrated the topping out on the dual-branded AC and Moxy by Marriott Uptown, currently Peachtree’s tallest hotel development at 19 stories in the heart of the highest-demand submarket of Dallas. The project will bring 264 upscale rooms to the McKinney Avenue corridor, a premier destination known for its mix of dining, nightlife, corporate offices and luxury residences. The much-anticipated hotel is expected to open in summer 2026.
And in Austin, Peachtree is undertaking its most ambitious project yet with the development of a dual-branded Embassy Suites and Tempo by Hilton. The 30-story tower will feature 480 guestrooms, crowned by a rooftop bar and lounge offering sweeping views of the city skyline. The project will also include 10,000 square feet of first- and second-floor space to be operated by a prominent, national restaurant group in the heart of Austin’s dynamic core.
“These projects reflect the full breadth of what Peachtree can deliver,” said Greg Friedman, managing principal and CEO of Peachtree Group. “From a beachfront resort in Gulf Shores to a lifestyle-driven hotel in Uptown Dallas and a dual-branded flagship in downtown Austin, we are scaling across markets with projects that redefine experiences for guests and value for our partners. Each underscores the strength of our platform to execute in a challenging environment.”
Peachtree’s Opportunity Zone development program continues to advance with the topping out of its Residence Inn San Antonio and the openings of the Hampton Inn & Suites in Maui and the AC Hotel Detroit. Notably, Peachtree also opened The Ava Hotel, a Curio Collection by Hilton, in Paso Robles, Calif., in August, a lifestyle-branded hotel that marks a new era in hospitality for the Central Coast.
The firm is among the most active hotel developers in Qualified Opportunity Zones, with 11 hotels open, four under construction and three more in the pipeline. Peachtree has supported the program since its inception, strategically allocating capital to spur economic development and advance its goal of revitalizing underserved communities.
Rounding out its momentum, the firm recently celebrated the opening of the Homewood Suites in Jackson, Tenn. Looking ahead, Peachtree expects to open two more hotels in 2025: a Home2 Suites in Ashburn, Va.,and a Tru by Hilton in Huntsville, Ala.
These projects, along with others under construction across the country, showcase Peachtree’s ability to execute across the full spectrum of hospitality asset types from efficient, limited-service hotels to high-rise, amenity-rich destinations. The firm remains bullish on hotel development, recognizing that many existing properties have been starved of capital since the pandemic and in today’s higher-rate environment. Newer hotels are not only better positioned to capture demand but to outperform over the long term, creating what Peachtree views as a compelling, durable opportunity.
“Developing hotels in today’s environment requires both conviction and capability,” said Will Woodworth, Peachtree’s senior vice president, investments. “High interest rates, elevated construction costs and tighter credit conditions have slowed new supply, but our vertically integrated platform and access to capital allow us to partner with best-in-class brands to deliver properties on-time and on-budget that will elevate the markets in which we build.”
Peachtree is one of the most active hotel and commercial real estate investors in the U.S., with more than $8 billion in asset value under management. The firm’s development program complements its credit and equity platforms, leveraging its vertically integrated structure to originate, acquire, develop and manage assets across the cycle.
Our VP of Investments, Will Woodworth, was featured in Hotel Investment Today, discussing the important role Opportunity Zones (OZs) are playing in today’s hotel development landscape.
“It became a critical vehicle to be able to develop, period. Your investor base may have a slightly different motivation. So, their return expectations may be slightly lower. That takes that pressure off of the cost that’s going into the project to be able to get it done.” — Will Woodworth
At Peachtree Group, we recognize the transformative impact OZs can have, not just on hotel projects, but on the communities they help revitalize. As interest rates and construction costs remain challenging, OZs offer a path forward by aligning investor goals with long-term value creation.
"Five years ago, the land now labeled as 905 Seventh St. in Sacramento, California, was nothing more than a parking lot for light rail commuters. Today, it's home to the city's newest major hotel.
The AC Hotel Sacramento opened in March 2024 after its construction began in January 2022. Downtown Sacramento has been in desperate need of more hotel rooms, and the AC Hotel's arrival helped fill that demand, economic leaders in California's capital city said.
The hotel sits in an opportunity zone, which is land that developers are given extra tax incentives from the federal government to revitalize."
