Dive Brief:
- Real estate and development private equity firm TMGOC Ventures broke ground on a 168-key Ritz-Carlton hotel in downtown Savannah, Georgia, more than two years after the property was approved by the Savannah Historic District Board of Review, the firm announced.
- The Ritz-Carlton Hotel Savannah, Downtown, located in the historic Savannah Skyscraper building, is expected to open in early 2028. The luxury Marriott-branded property will feature a signature restaurant, a lobby lounge, a rooftop bar and pool, a 5,000-square-foot spa and wellness center and more than 5,000 square feet of meeting space, according to the developer.
- The hotel, representing the first Ritz-Carlton property in the city, will be part of Marriott’s expanding Luxury Group portfolio.
Dive Insight:
Positioned in “one of the South’s most storied destinations,” the Savannah Ritz-Cartlon “represents a meaningful addition” to Marriott’s portfolio, Jake Pinsof, vice president of development at Marriott, said in a statement.
New York and London-based interior designer Martin Brudnizki Design Studio is overseeing the project’s design, which will “merge heritage and modernity … to create a warm, elegant and distinctly Savannah experience,” according to the release.
The hotel is “designed to meet the growing demand for both leisure and business travel” in the Savannah market, Glenn Alba, co-founder and managing partner of TMGOC Ventures, said in a statement. Savannah is increasingly becoming a destination for travelers seeking unique hotel design and immersive experiences, local hospitality professionals told Hotel Dive last year.
The groundbreaking aligns with Marriott’s targeted expansion of its luxury portfolio. The company sees the luxury segment as an opportunity for growth, “as higher-end consumers remain resilient and continue to prioritize spending on experience and travel over goods,” Marriott CEO Anthony Capuano said during a February earnings call. Roughly 10% of Marriott’s pipeline rooms globally are in the luxury segment, he noted.
Marriott, alongside Live Nation and Boxcar Development, is also underway on the first Ritz-Carlton hotel in Indianapolis.
Across its Luxury Group portfolio, which also includes St. Regis Hotels & Resorts, JW Marriott and Edition, Marriott is expanding through new developments, hotel conversions and brand partnerships. Last week, Marriott announced that Italian luxury wellness hospitality brand Lefay will join its system through a joint venture as the first brand dedicated exclusively to luxury wellness.
