The LCP Group, a real estate investment management firm, has obtained $104.5 million in construction financing to support the development of the first Ritz-Carlton hotel in Savannah, Georgia. The financing package was arranged for the 195-room luxury hotel, which is set to be located along the city’s historic riverfront.
Project Details and Location
The planned Ritz-Carlton Savannah will be situated at 400 West River Street, in the Plant Riverside District. The property is expected to feature 195 guest rooms and suites, a rooftop bar, a signature restaurant, a spa, and meeting spaces. The hotel will be part of the Marriott International portfolio and will mark the brand’s debut in Savannah.
Financing Structure
The $104.5 million construction loan was arranged by The LCP Group in partnership with an affiliate of Apollo Global Management. The financing will be used to cover construction costs and related expenses for the project. The LCP Group is developing the hotel in collaboration with Kessler Collection, a hospitality company based in Orlando, Florida.
Development Timeline
Construction of the Ritz-Carlton Savannah is expected to begin in the coming months, with an anticipated opening date in 2025. The project aims to enhance Savannah’s hospitality offerings and attract both leisure and business travelers to the area.
Statements from Project Leaders
“We are excited to bring the Ritz-Carlton brand to Savannah and to contribute to the city’s ongoing growth as a premier travel destination,” said Francis Lively, CEO of The LCP Group. “This project represents a significant investment in the local community and will create new opportunities for residents and visitors alike.”
Richard C. Kessler, Chairman and CEO of Kessler Collection, added, “The Ritz-Carlton Savannah will set a new standard for luxury hospitality in the region. We look forward to working with our partners to deliver an exceptional experience for guests.”
About The LCP Group
The LCP Group specializes in real estate investment management and has a portfolio that includes hospitality, office, and residential properties across the United States. The company’s latest project in Savannah is part of its ongoing strategy to expand its presence in key markets.
Additional Information
