The acquisition comes as Portman\u2019s plans for a major, contested redevelopment<\/a> are coming into clearer focus at the Amsterdam Walk district along Piedmont Park and the Atlanta Beltline.\u00a0<\/p>\n According to Portman officials, a \u201ccomprehensive renovation\u201d is in the works that that will reposition Westin Peachtree Plaza\u2019s public spaces, guest rooms, and meeting facilities prior to Atlanta\u2019s Super Bowl LXII in early 2028.\u00a0\u00a0<\/p>\n \n \n As any Atlantan knows, Portman\u2019s purchase of the 73-story building is notable in that the firm\u2019s founder, John C. Portman, Jr., originally designed and developed it. When it opened five decades ago at 723 feet, it stood as the tallest hotel in the world, and it remains one of Atlanta\u2019s most recognizable architectural landmarks.\u00a0<\/p>\n Portman\u2019s purchase of the Westin Peachtree Plaza follows last year\u2019s acquisition of the 456-key Westin Cincinnati, where renovations are scheduled to begin this year.\u00a0<\/p>\n \u201cThe fund reflects Portman\u2019s continued focus on creating long-term value through disciplined investment strategies that build on our deep real estate experience,\u201d said Ambrish Baisiwala, Portman CEO and chairman, in a statement regarding the hotel purchase. \u00a0<\/p>\n Added Cameron Read, Marriott International\u2019s chief financial officer in the U.S. and Canada: \u201cMarriott International has maintained a strong, long-standing relationship with Portman, and we are confident in their ability to realize the full potential of the iconic Westin Peachtree Plaza in the years ahead.\u201d\u00a0<\/p>\n \n \n …<\/p>\n Follow us on social media:\u00a0<\/p>\n Twitter<\/a>\u00a0\/\u00a0Facebook<\/a>\/and now:\u00a0Instagram<\/a>\u00a0\u00a0<\/p>\n \u2022\u00a0Downtown news, discussion<\/a>\u00a0(Urbanize Atlanta)<\/p>\n<\/a>
\nCourtesy of Portman <\/p>\n<\/a>
\nCourtesy of Portman <\/p>\n<\/a>
\nCourtesy of Portman <\/p>\n<\/a>
\nCourtesy of Portman <\/p>\n