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Peachtree is Hilton’s 2023 Focused Developer of the Year

The company won Hilton's Multi-Brand Developer of the Year in 2022

Peachtree is Hilton’s 2023 Focused Developer of the Year

PEACHTREE GROUP IS the 2023 Developer of the Year in the Focused Service category by Hilton Americas Development Awards. The yearly awards recognize the achievements of owners, development partners, and hotel teams across different categories in the Americas, Peachtree said in a statement.

“We are immensely honored to have been named developer of the year by Hilton, a distinction that underscores our desire to build outstanding hotels,” said Mitul Patel, Peachtree Group’s principal. “This recognition highlights our unwavering commitment to creating exceptional hotels and further strengthens our partnership with Hilton. This award is a testament to our strategic approach to hotel development, which combines identifying great locations, assembling a top-tier team and maintaining a steadfast focus on quality.”


Peachtree Group won the Multi-Brand Developer of the Year award from Hilton in 2022, the statement added.

Peachtree Group recently promoted three senior executives: Michael Harper, president of hotel lending; Jared Schlosser, executive vice president of hotel lending and CPACE head; and Michael Ritz, executive vice president of investments.

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CoStar, Tourism Economics Cut 2025 US Hotel Growth Forecast

CoStar, TE trim 2025 hotel growth

Summary:

  • CoStar and TE downgraded the 2025 U.S. hotel forecast.
  • Occupancy fell 0.2 points to 62.3 percent.
  • RevPAR dropped 0.3 points to -0.4 percent.

COSTAR AND TOURISM Economics downgraded the 2025 U.S. hotel forecast, with occupancy falling 0.2 points to 62.3 percent and ADR holding at +0.8 percent. RevPAR was downgraded 0.3 percentage points to -0.4 percent.

The last full-year U.S. RevPAR declines were in 2020 and 2009, the research agencies said in a statement.

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