TMGOC VENTURES TO DEVELOP FIRST RITZ-CARLTON HOTEL & RESIDENCES IN SAVANNAH, GEORGIA
CHARLESTON, S.C. / BOCA RATON, FL. –OCT. 20, 2023
TMGOC Ventures (TMGOC), a real estate and development private equity firm headquartered in Charleston, S.C. and Boca Raton, Fla., today announced it received approval from the Savannah Historic District Board of Review to bring the first Ritz-Carlton to the city. Construction is scheduled to begin in the second quarter of 2024 with a proposed opening date within the first quarter of 2026.
The 104-room Ritz-Carlton Hotel will occupy the historic ‘Savannah Skyscraper’ at 2 E. Bryan St., downtown, and the 20 residences will be at 14 E. Bryant St. The full-service luxury hotel and residences will feature a signature restaurant serving breakfast, lunch and dinner, a lobby lounge, a members-only Club, a roof-top bar and pool, a 5,000-square-foot spa and wellness facility, and more than 5,000 square feet of meeting space. Residences will offer panoramic vistas of the downtown skyline and Savannah River and Owners will have the option of having their homes managed by The Ritz-Carlton.
“The opportunity to bring The Ritz-Carlton brand to such an iconic building is one we couldn’t pass up,” said TMGOC Co-Founder and Managing Partner Sunju Patel. “We look forward to working with our project partners and the continued support from city leaders to bring this vision to life. We’re thrilled to bring this ultra-luxury property to Savannah and know that the finished product will be worthy of the city’s rich history.”
TMGOC has enlisted a first-class design team, including New York and London-based interior designer MBDS (Martin Brudnizki Design Studio) and Miami-based architecture firm Studio Mc+G Architecture, to oversee the design process and ensure each element appeals to the most discerning guests and residents. The luxury hotel development will be owned by TMGOC and operated by The Ritz-Carlton, a Marriott International brand.
“We’re aiming to restore this iconic downtown building while ushering in a new era of luxury bringing The Ritz-Carlton to Savannah,” said TMGOC Co-Founder and Managing Partner Glenn Alba. “Guests and owners can expect a five-star experience with elegantly-designed rooms and residences, innovative amenities, high-touch service and more – all set against the backdrop of this great, historic Southern city.”
Since its inception in 2019, TMGOC has grown rapidly, amassing $1 billion in existing and development projects. Its impressive portfolio is a testament to strong partnerships with leading hotel brands, including The Ritz-Carlton, Thompson by Hyatt, Autograph Collection Hotels, Tapestry Collection by Hilton and Moxy Hotels by Marriott.
Recent TMGOC developments include the Moxy Charleston Downtown, the first Moxy in South Carolina, a 131-room boutique hotel featuring a rooftop with expansive views of the Peninsula and iconic Ravenel Bridge. Additional projects underway include a 208-key Moxy under construction in the heart of Uptown Charlotte, N.C., a 162-key Tapestry Collection by Hilton and a 233-unit multi-family mixed-use development in Macon, Ga., a 191-key Thompson by Hyatt in Charleston, S.C., and a 150-key and 20 residences by Autograph Collection Hotels in Charleston, S.C.
TMGOC’s existing portfolio currently consists of properties primarily located in the Southeastern U.S., with plans to expand to additional key markets in Arizona, Colorado, and Utah.
The Ritz-Carlton Residences, Savannah are not owned, developed or sold by The Ritz-Carlton Hotel Company, L.L.C. or its affiliates (“Ritz-Carlton”). TMGOC SAV Bryan LLC uses The Ritz-Carlton marks under a license from Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein.