ATLANTA, Georgia—Monomoy Property Ventures (Monomoy) and Axonic Capital announced the acquisition of 590 West Peachtree Street in Atlanta, Georgia. The property will soon undergo a substantial capital investment program led by Monomoy in partnership with an architect and design team, and be repositioned under the Marriott Hotels brand, Marriott International’s flagship full-service offering. Monomoy and Axonic have selected Schulte Hospitality Group as the property management company.
“This project aligns with Monomoy’s track record of acquiring high-quality real estate in growing markets with creative repositioning potential,” said Kevin Vaughan, founder and managing partner of Monomoy. “Through a major renovation and conversion to The Marriott Atlanta, we are excited to create a strong product-market fit for the Atlanta traveler and deliver attractive outcomes for our partnership.”
“We are thrilled to partner with Monomoy to acquire this strategic asset that is primed for a repositioning and rebranding,” said Eric Sitman, managing director at Axonic Capital. “We think post-renovation we will have a highly compelling offering for this market at an exceptional basis and believe strongly that Schulte is the right hotel manager to maximize performance.”
The property currently includes 462 guestrooms, including more than 20 percent suites with full kitchenettes, and over 30,000 square feet of meeting space. Following the renovation and conversion, the rebranded Marriott Atlanta will join Marriott’s Bonvoy loyalty program and offer upgraded guestrooms, modernized public areas, an “M-Club”, new food and beverage concepts, and revitalized meeting and event space overlooking Georgia Tech, Emory Hospital, Mercedes-Benz Stadium, and the broader Atlanta central business district. Schulte Hospitality Group will assume responsibility for operations and commercial strategy effective immediately.
“We are pleased to partner with Monomoy and Axonic on this strategically significant Atlanta investment,” said Sam Grabush, chief operating officer of Schulte Hospitality Group. “Schulte’s track record in full-service branded hotels, conversion, and repositioning projects allows us to bring operational expertise that maximizes asset value. Together, we will elevate the property’s performance profile, drive long-term ROI, and strengthen its positioning as the premier full-service Marriott asset in the Atlanta market.”
The renovation scope will include comprehensive upgrades across guestrooms, suites, and public areas, as well as the modernization of back-of-house systems to enhance operational efficiency and ensure compliance with Marriott’s brand standards. Cooper Carry has been selected as the project’s architect. Construction is expected to commence in late 2026 following the World Cup in Atlanta, with a reopening targeted for late 2027 ahead of Super Bowl LXII in Atlanta.
