TMGOC Ventures (TMGOC), a real estate and development private equity firm headquartered in Charleston, SC, and Boca Raton, FL, has received approval from the Savannah Historic District Board of Review to bring the first Ritz-Carlton to the Georgia city. Construction on the 104-room hotel and 20 residences is scheduled to begin in the second quarter of 2024, with a proposed opening date within the first quarter of 2026.
The full-service luxury hotel, which will occupy the historic “Savannah Skyscraper,” and residences will feature a signature restaurant serving breakfast, lunch and dinner; a lobby lounge; a members-only club; a rooftop bar and pool; a 5,000-sq.-ft. spa and wellness facility; and more than 5,000 sq. ft. of meeting space. Residences will offer panoramic views of the downtown skyline and Savannah River, and owners will have the option of renting their units through the operating company.
“The opportunity to bring The Ritz-Carlton brand to such an iconic building is one we couldn’t pass up,” said Sunju Patel, cofounder/managing partner, TMGOC. “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 interior designer MBDS (Martin Brudnizki Design Studio) and architecture firm Studio Mc+G Architecture to oversee the design process. 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 Glenn Alba, cofounder/managing partner, TMGOC. “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. Recent TMGOC developments include the Moxy Charleston Downtown, the first Moxy in South Carolina, a 131-room boutique hotel featuring a rooftop with views of the peninsula and Ravenel Bridge. Additional projects underway include a 208-key Moxy under construction in Uptown Charlotte, NC; a 162-key Tapestry Collection by Hilton hotel and a 233-unit multi-family mixed-use development in Macon, GA; a 191-key Thompson by Hyatt in Charleston, SC; and a 150-key and 20 residences by Autograph Collection Hotels in Charleston, SC.
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.
Look for more on TMGOC Ventures in the November issue of Hotel Business.
