Portman Holdings has reacquired the Westin Peachtree Plaza hotel, the 73-story cylindrical landmark in downtown Atlanta that the company's founder, John Portman, originally designed and built. The deal, announced May 22, 2026, marks the inaugural acquisition for Portman's new hospitality fund focused on renovating large-scale hotels in major U.S. markets.
The hotel opened in 1976 as the world's tallest hotel and currently ranks as America's third tallest with 1,073 rooms. The glass-wrapped tower is one of downtown Atlanta's most recognizable silhouettes, home to the iconic revolving Sun Dial restaurant at its summit. Portman sold the property in the 1980s during financial difficulties, making this purchase a full-circle moment for the firm.
"The Westin Peachtree Plaza is exactly the kind of asset we built the fund to capture," said Kaunteya Chitnis, managing director of hospitality at Portman.
Marriott International, the seller, will retain management of the property through a long-term agreement. Cameron Read, Marriott's CFO for the U.S. and Canada, expressed confidence in Portman's "ability to realize the full potential of the iconic Westin Peachtree Plaza in the years ahead."
The renovation initiative aims to reposition the hotel ahead of Atlanta hosting the Super Bowl in 2028. The property's most recent appraised value was $120.4 million according to Fulton County records. Portman's broader development portfolio includes Truist Plaza, the Peachtree Center complex, Atlanta Marriott Marquis, Hyatt Regency Atlanta, and Georgia Tech's Coda building.
Source: The Atlanta Journal-Constitution
