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Atlanta’s Residence Inn-Midtown Purchased

Hotel Online

[Atlanta, GA]—Centre Properties Inc., a hotel development company based in Atlanta, announced the purchase of the 66-suite Residence Inn-Midtown located at 1041 West Peachtree St. in Atlanta. The Residence Inn is currently undergoing a substantial renovation and will remain open throughout the process. The hotel will be reconfigured to accommodate an additional 12 suites, while maintaining its Residence Inn by Marriott flag.

[Centre Properties purchased the property in joint venture with Concord Hospitality Enterprises, a Cleveland, OH-based hotel owner and manager. Centre Properties is an affiliate of the Atlanta-based John Hardy Group, which specializes in the development, construction and renovation of hotels. The John Hardy Group’s client list includes Aetna, Bedrock, Bristol, Prudential, Wyndham, Host Marriott, Starwood Lodging and currently has two offices located in Atlanta and Denver. The purchase of the Residence Inn is the first acquisition for Centre Properties, which is currently negotiating several other deals.