Courtyard by Marriott in Paso Robles sold to hotel group
Peachtree Hotel Group now owns three hotels in town
– The Peachtree Hotel Group based in Atlanta recently announced the acquisition of the 130-room Courtyard by Marriott in Paso Robles. Peachtree Hospitality Management will operate the properties.
Peachtree says it will improve the competitive positioning of the Courtyard through a renovation, which will include adding an outdoor bar featuring locally sourced wines and featured cocktails. Upon completion of the renovation, the hotel will be the newest renovated property in the area.
The Courtyard, which opened in 2007 and is located at 120 South Vine Street, is the third property Peachtree has acquired in Paso Robles, having acquired the 81-room Hampton Inn & Suites and the 60-room La Bellasera Hotel & Suites in Nov. 2021.
“These properties are well-located in a growing market with significant leisure demand, attracting roughly two million tourists annually,” said Brian Waldman, Peachtree’s executive vice president, investments. “We are thrilled to diversify our expanding portfolio of premium-branded hotel properties by acquiring hotels and exploring future hotel development opportunities in high-growth West Coast markets, like Paso Robles.
The terms of the transactions were not disclosed.
About Peachtree Hotel Group
Peachtree is a real estate private equity investment firm investing primarily in hospitality. Since its founding in 2008, the company has completed hundreds of real estate investments valued at more than $6.2 billion in total market capitalization, and currently has $2.1 billion in equity under management. For more information, visit www.peachtreehotelgroup.com.
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