Peachtree Group opens the Tru by Hilton in Huntsville, Ala. The 98-room hotel 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," Mitul Patel, managing principal at Peachtree, said in a statement. "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 was constructed in a Qualified Opportunity Zone. It is 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."
Amenities include modern, efficient design with open social spaces, complimentary breakfast, a 24/7 market, a fitness center and lounge areas.
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.