Peachtree Group Breaks Ground on Residence Inn by Marriott in San Antonio

Author

Slice of Real Estate Team
November 20, 2024

Key Highlights:

  • 171-room Residence Inn by Marriott, located downtown near the Riverwalk, will open in Q2 2026.

  • Features fully equipped kitchens, separate living areas, workspaces, and modern design tailored to extended-stay guests.

  • Positioned in a Qualified Opportunity Zone (QOZ), fostering local economic growth and job creation.

  • Amenities include flexible meeting spaces, an expansive fitness center, outdoor gathering spaces, and an onsite Caribou Coffee.

  • Developed by Merritt Development Group, emphasizing revitalization and upscale accommodation in San Antonio.

Source: Business Wire

Notable Quote:

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"San Antonio is a unique market with a growing need for extended-stay hotels. By building within a QOZ, Peachtree's Residence Inn will create lasting economic impacts, from job creation in construction and operations to sparking further interest in nearby retail, dining and entertainment. The new Residence Inn will provide guests with a dynamic extended-stay experience uniquely suited to San Antonio's market."

Greg Friedman, Managing Principal and CEO at Peachtree Group

Our Take:

Peachtree Group's investment in San Antonio demonstrates its strategic focus on markets with robust demand drivers, blending corporate needs, tourism, and community revitalization. The inclusion of the project within a QOZ underscores its dual commitment to economic impact and delivering high-quality accommodations. By addressing evolving guest preferences through home-like amenities and modern design, the Residence Inn will fill a significant gap in San Antonio’s hospitality landscape, further solidifying Peachtree’s influence in key U.S. markets.