Monomoy Property Ventures, a real estate investment firm specializing in high-value hospitality and mixed-use assets, and Axonic Capital, a real estate-focused investment manager, have acquired 590 West Peachtree Street—currently operating as Crowne Plaza Atlanta Midtown.

The property will undergo a significant renovation led by Monomoy and a top-tier design team, transforming it into The Marriott Atlanta, a flagship under the Marriott Hotels brand. Kentucky-based Schulte Hospitality Group has been selected to manage the property.

Photo credit: Monomoy Property Ventures

A Strategic Repositioning in Midtown Atlanta

“This project aligns with Monomoy’s track record of acquiring quality real estate in high-growth markets with strong repositioning potential,” said Kevin Vaughan, Founder and Managing Partner of Monomoy. “Through a major renovation and conversion to The Marriott Atlanta, we’re creating a product that meets the needs of the modern Atlanta traveler and delivers exceptional value to our investors.”

“We’re thrilled to partner with Monomoy on the acquisition of this strategic Midtown asset,” said Eric Sitman, managing director at Axonic Capital. “Post-renovation, this property will be a highly compelling offering in one of the Southeast’s strongest hospitality markets, especially with Schulte as the ideal operating partner to unlock the hotel’s full potential.”

Flagship Marriott Experience in the Heart of Atlanta

Located in Atlanta’s vibrant Midtown corridor, the property currently features 462 oversized guestrooms—including more than 20% suites with full kitchenettes—and 30,000 square feet of meeting and event space. Upon completion, The Marriott Atlanta will join the Marriott Bonvoy loyalty program and unveil:

• Fully-renovated guest rooms and suites
• Modernized public spaces and meeting areas
• A new M Club Lounge
• Innovative food and beverage concepts
• Upgraded event venues

The property sits minutes from Georgia Tech, Emory Hospital, Mercedes-Benz Stadium, and downtown Atlanta. Schulte Hospitality Group assumes operational and commercial responsibility effective immediately.

Operational Expertise and Long-Term Vision

“We’re proud to collaborate with Monomoy and Axonic on this high-impact investment,” said Sam Grabush, Chief Operating Officer of Schulte Hospitality Group. “Schulte’s deep experience in branded full-service hotels and repositioning projects allows us to elevate the property’s performance, drive long-term ROI, and strengthen its place as a premier Marriott destination in Atlanta.”

Renovation Timeline and Design Partners

The renovation will include comprehensive upgrades to guestrooms, suites, and public spaces, as well as modernization of back-of-house systems to enhance operational efficiency and meet Marriott’s brand standards. Cooper Carry will lead architecture, design, and engineering. Construction is expected to begin in late 2026, following Atlanta’s World Cup events, with reopening targeted for late 2027 ahead of Super Bowl LXII.

About Monomoy Property Ventures

Monomoy Property Ventures is a New York-based real estate investment, development, and management firm focused on acquiring and repositioning hospitality and mixed-use assets in high-barrier urban and resort markets. Founded in 2020 by Kevin Vaughan, Monomoy transforms properties and neighborhoods through strategic redevelopment while delivering strong returns to investors.
For more information, visit www.monomoypropertyventures.com

About Axonic Capital

Founded in 2010, Axonic Capital is a New York–based investment manager with more than $6.5 billion in assets under management. The firm specializes in commercial real estate debt and equity across major U.S. markets, with deep expertise in the multifamily sector. Axonic’s capital base includes private partnerships, separate accounts, insurance mandates, and public fund structures.

Learn more at axoniccap.com.

About Schulte Hospitality Group

Schulte Hospitality Group is a leading management and development company overseeing a global portfolio of more than 240 hotels, restaurants, and hospitality ventures with a team of over 10,000 employees. Headquartered in Louisville, KY, Schulte operates across major brands including Marriott, Hilton, IHG, Hyatt, and Graduate Hotels, and is recognized for delivering data-driven results and cultivating leadership across its properties.
For more information, visit www.schultehospitality.com.

For more information, contact:

Marsha Archer, President, M-Squared Public Relations 

404-578-8702 / marsha@msquaredpr.com