ATLANTA, Georgia—Monomoy Property Ventures (Monomoy) and Axonic Capital introduced the acquisition of 590 West Peachtree Avenue in Atlanta, Georgia. The property will quickly bear a considerable capital funding program led by Monomoy in partnership with an architect and design staff, and be repositioned underneath the Marriott Hotels model, Marriott Worldwide’s flagship full-service providing. Monomoy and Axonic have chosen Schulte Hospitality Group because the property administration firm.
“This venture aligns with Monomoy’s monitor file of buying high-quality actual property in rising markets with inventive repositioning potential,” stated Kevin Vaughan, founder and managing associate of Monomoy. “By a serious renovation and conversion to The Marriott Atlanta, we’re excited to create a powerful product-market match for the Atlanta traveler and ship engaging outcomes for our partnership.”
“We’re thrilled to associate with Monomoy to amass this strategic asset that’s primed for a repositioning and rebranding,” stated Eric Sitman, managing director at Axonic Capital. “We expect post-renovation we may have a extremely compelling providing for this market at an distinctive foundation and consider strongly that Schulte is the fitting resort supervisor to maximise efficiency.”
The property presently contains 462 guestrooms, together with greater than 20 % suites with full kitchenettes, and over 30,000 sq. toes of assembly area. Following the renovation and conversion, the rebranded Marriott Atlanta will be part of Marriott’s Bonvoy loyalty program and supply upgraded guestrooms, modernized public areas, an “M-Membership”, new meals and beverage ideas, and revitalized assembly and occasion area overlooking Georgia Tech, Emory Hospital, Mercedes-Benz Stadium, and the broader Atlanta central enterprise district. Schulte Hospitality Group will assume accountability for operations and business technique efficient instantly.
“We’re happy to associate with Monomoy and Axonic on this strategically vital Atlanta funding,” stated Sam Grabush, chief working officer of Schulte Hospitality Group. “Schulte’s monitor file in full-service branded motels, conversion, and repositioning initiatives permits us to carry operational experience that maximizes asset worth. Collectively, we’ll elevate the property’s efficiency profile, drive long-term ROI, and strengthen its positioning because the premier full-service Marriott asset within the Atlanta market.”
The renovation scope will embrace complete upgrades throughout guestrooms, suites, and public areas, in addition to the modernization of back-of-house methods to reinforce operational effectivity and guarantee compliance with Marriott’s model requirements. Cooper Carry has been chosen because the venture’s architect. Development is predicted to start in late 2026 following the World Cup in Atlanta, with a reopening focused for late 2027 forward of Tremendous Bowl LXII in Atlanta.
