Waramaug acquires Atlanta Marriott

Waramaug Hospitality has acquired the Atlanta Marriott Peachtree Corners. Terms of the transaction were not disclosed. 

"The Atlanta Marriott Peachtree Corners is an exceptional asset with built-in demand generators in the only Georgia city that made Fortune Magazine's list of the 50 best places to live in the United States for families," Ferit Ferhangil, principal of Waramaug Hospitality, said in a statement. "As the second full-service Marriott Hotel and 16th Marriott-branded property in our portfolio, we see tremendous revenue growth opportunities for this asset in a thriving market. Our team will deploy sophisticated management and marketing systems to strengthen the asset and ensure the property outperforms its competitive set."

The 222-room Atlanta Marriott Peachtree Corners has a fitness center, indoor pool and outdoor fire pit seating area. It also has 5,000 square feet of meeting space across nine rooms, the largest of which covers 3,000 square feet with a capacity of over 300 people. 

The property, which will now be managed by Aimbridge Hospitality, is located within Technology Park, a regional technology and innovation hub that includes the regional headquarters of Comcast, Crawford & Co. and Hapag-Lloyd. The 500-acre campus has 2,300 businesses ranging from Tech startups to Fortune 500 companies.