HUNTSVILLE — Taking advantage of an economic opportunity put an Atlanta investment management firm in the zone as the newest member of Huntsville’s hospitality lineup.
The Tru by Hilton, a 98-room hotel on Cabela Drive in west Huntsville, was developed by Peachtree Group and is the sixth property the firm completed and opened recently. Peachtree’s hospitality management division will operate the hotel.
“Our partnership with Hilton continues to grow stronger with each project,” said Mitul Patel, managing principal at Peachtree. “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 situated in one of the most dynamic technology and defense hubs in the Southeast and was constructed in a Qualified Opportunity Zone. The zones were created as part of the Tax Cuts and Jobs Act of 2017, which designated low-income census tracts as QOZs.
“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.
The hotel is within a mile of Redstone Arsenal, ,Boeing, NASA and the FBI’s Huntsville campus and is adjacent to Cummings Research Park. The hotel features open social spaces, complimentary breakfast, a 24/7 market, a fitness center and lounge areas.
“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,” Woodworth said.
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