LCP Group Secures $104.5M Construction Financing for Savannah’s First Ritz-Carlton Hotel
The LCP Group, L.P. a vertically integrated private real estate investment manager with over 50 years of experience in hospitality investing and lending, has announced the successful closing of $104.5 million in construction financing for The Ritz-Carlton Savannah, a new luxury hotel development in Georgia.
LCP acted as the originator and lead arranger for the financing transaction, working in collaboration with senior lender Knighthead Funding, LLC (“Knighthead”) and subordinate co-lender Siguler Guff & Company. The financing structure includes a combination of senior debt, subordinate debt, bridge financing, and historic tax credit equity, reflecting the complexity and scale involved in transforming two prominent downtown Savannah properties into a high-end hospitality destination.
The development is being led by TMGOC Ventures (“TMGOC”), a Boca Raton-based real estate private equity and development firm. Once completed, the project will introduce Savannah’s first-ever Ritz-Carlton hotel, marking a significant milestone for the city’s luxury hospitality sector and reinforcing its growing appeal as a premier travel destination in the United States.
At the heart of the project is the redevelopment of the historic “Savannah Skyscraper,” a landmark 15-story building originally constructed in 1911 as the Savannah Bank & Trust building. Alongside the adjacent structure, the redevelopment will carefully preserve the architectural heritage of the site while converting it into a modern, world-class hotel. The property will operate under The Ritz-Carlton brand, part of Marriott International’s portfolio of luxury hospitality offerings, known globally for its premium service standards and iconic hotel experiences.
The design and construction team behind the project brings together leading industry expertise. Interiors are being designed by Martin Brudnizki Design Studio, an internationally recognized firm known for its sophisticated hospitality design work. Architecture is being led by Studio Mc+G Architecture, while Cleveland Construction serves as the construction manager, ensuring the execution aligns with both the developer’s vision and the brand’s luxury standards.
Upon completion, The Ritz-Carlton Savannah will feature 168 elegantly designed guestrooms and suites, offering a refined luxury experience tailored to both leisure and business travelers. The hotel will also include four food and beverage venues, a rooftop bar with a swimming pool that provides panoramic skyline views, a full-service spa, a modern fitness center, and approximately 2,100 square feet of dedicated meeting and event space. These amenities are designed to position the property as a premier destination for both tourism and high-end corporate gatherings.
According to Francis Lively, Chief Executive Officer of LCP, the project represents a rare and highly differentiated opportunity in the hospitality market. He emphasized that Savannah’s luxury hotel supply remains extremely limited, creating strong demand potential for a globally recognized brand such as Ritz-Carlton.
“The Ritz-Carlton Savannah is a differentiated opportunity to introduce a true luxury offering in a market where new supply at this level is exceptionally constrained,” said Lively. “We are especially pleased to partner with TMGOC, whose vision for the asset and proven ability to execute high-quality hospitality developments have been central to advancing this landmark project. Further, we value the opportunity to work alongside like-minded capital partners who share our conviction in both the asset and Savannah’s continued evolution as a luxury destination.”
Savannah’s tourism and hospitality sector continues to experience strong growth, driven by increasing leisure travel demand and expanding convention infrastructure. A key contributor to this momentum is the recent $276 million expansion of the Savannah Convention Center, completed in February 2025. The expansion has doubled the facility’s size to 660,000 square feet, enabling the city to attract larger national conventions, exhibitions, and corporate events than ever before.
Industry stakeholders believe that the introduction of a Ritz-Carlton property will significantly enhance Savannah’s positioning in the competitive luxury travel market. The addition of a globally recognized five-star hotel brand is expected to elevate visitor expectations and further support the city’s efforts to attract high-spending travelers and premium event business.
Representatives from the financing partners also expressed confidence in the project’s long-term value. Jonathan Daniel of Knighthead noted that the development presents a unique opportunity to create a landmark hospitality asset in the heart of downtown Savannah, emphasizing strong alignment between the sponsor’s vision and lender expectations.
Similarly, Siguler Guff highlighted the strategic importance of investing in high-quality hospitality assets in supply-constrained and historically significant markets. Adam Domanico, Principal at Siguler Guff, stated that the firm is proud to partner with LCP on what is expected to become a transformational project for the city.
He added that the investment reflects Siguler Guff’s broader strategy of supporting experienced sponsors such as TMGOC in high-barrier-to-entry markets like Savannah’s historic district, where demand for luxury accommodations continues to outpace supply.
Once operational, The Ritz-Carlton Savannah is expected to become a flagship property in the region’s hospitality landscape, blending historic preservation with modern luxury. The project underscores continued institutional confidence in high-end hotel development and highlights Savannah’s growing reputation as a premier destination for upscale tourism and business travel in the southeastern United States.
Source Link:https://www.businesswire.com/
