Atma Hotel Group acquires 2 Chapel Hill, N.C., properties

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Hotel ownership and management company Atma Hotel Group acquired two more hotels in Chapel Hill, N.C. The two properties—a Courtyard by Marriott and a Sheraton—bring the Chapel Hill-based company’s total in the city to six and its overall portfolio to 10.

“As an industry, we’re seeing high demand for event space, and that’s blurring the lines between business and leisure travel,” Manish Atma, founder/CEO of Atma Hotel Group, said in a statement. “With the Courtyard and Sheraton, we can provide the meeting space, services and reward programs business travelers seek, within close proximity to [the University of North Carolina], Duke University and Research Triangle Park.”

Atma Hotel Group acquired the 168-room Sheraton Chapel Hill Hotel from Swan Carolina Investors and Whiteboard Investments. According to Atma, it will undergo a renovation affecting all guestrooms, public areas and meeting spaces by fall 2020. “We’ve been involved in two other award-winning renovations over the past five years and are really excited to reestablish the Sheraton [Chapel Hill] as the premier destination for lodging, events and meetings in Chapel Hill,” Atma said in a statement.

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The Sheraton is located 4 miles from downtown Chapel Hill, 7 miles from Duke University and 13 miles from Research Triangle Park. It features more than 15,000 square feet of venue space, a full-service bar and restaurant, a private outdoor pool, a rooftop amenity deck and a fitness center, all of which will be transformed during the upcoming renovation.

The company bought the Courtyard by Marriott Chapel Hill from Noble Investment Group. Located adjacent to the University of North Carolina at Chapel Hill’s Friday Conference Center, the property features 169 guestrooms, onsite dining, a fitness center, an indoor pool and 2,163 square feet of meeting space.

Atma Hotel Group is also constructing a new 98-room Tru by Hilton in Chapel Hill. That property, which will be its seventh in the city, is slated to open in the first quarter of 2021.



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