Peachtree Group Announces Grand Opening of Tru by Hilton Huntsville, Alabama

ATLANTA--(BUSINESS WIRE)--Peachtree Group ("Peachtree") announced the grand opening of the Tru by Hilton in Huntsville, Ala. The 98-room hotel, located at 7206 Cabela Drive NW, was developed by Peachtree and is the sixth property the firm completed and opened this year. Peachtree's hospitality management division will operate the hotel.

"Our partnership with Hilton continues to grow stronger with each project," said Mitul Patel, managing principal at Peachtree. "Hilton has been a trusted brand partner for many years, and we are proud to continue developing high quality hotels together in markets that benefit from strong demand and economic growth."

The hotel is situated in one of the most dynamic technology and defense hubs in the Southeast and was constructed in a Qualified Opportunity Zone ("QOZ"). It is strategically located within a mile of Boeing, NASA and the FBI's Huntsville campus and sits next to an office park that houses major government contractors, including Lockheed Martin, Northrop Grumman and the United States Army base, Redstone Arsenal, all of which contribute to Huntsville's strong economic growth.

"The opening of Tru by Hilton Huntsville underscores our commitment to developing institutional-quality properties in markets with enduring demand generators," said Will Woodworth, senior vice president, investments at Peachtree. "Huntsville's leadership in aerospace, defense and advanced manufacturing makes it an exceptional fit for Hilton's Tru brand and Peachtree's long-term investment strategy."

Guests will experience a modern, efficient design with open social spaces, complimentary breakfast, a 24/7 market, a fitness center and lounge areas that reflect the Tru by Hilton brand's focus on comfort and connectivity.

Opportunity Zones were created as part of the Tax Cuts and Jobs Act of 2017, which designated low-income census tracts as QOZs. Peachtree has supported the program since its inception, strategically allocating capital to spur economic development and advance its goal of revitalizing underserved communities.

Among the most active hotel developers in QOZs, Peachtree has opened 12 hotels with three under construction and three more in the pipeline.

Peachtree's hospitality management division operates premium, branded hotels across the upper midscale and upscale segments, including limited-service, select-service and compact full-service properties. The division manages 113 hotels across 29 brands nationwide.

About Peachtree Group

Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.