PEG Companies Closes on Land for New Residence Inn by Marriott in Santa Fe

SANTA FE, NM – April 10, 2025 – PEG has officially closed on the land for its latest hospitality project, a new Residence Inn by Marriott in Santa Fe, New Mexico. Located in the Santa Fe Place Mall parking lot, the 127-key hotel will bring a modern extended-stay experience to the heart of the city’s retail and commercial activity. 

Designed by DesignCell Architecture with interiors by EDGEiD, the hotel will showcase a blend of traditional and contemporary aesthetics, drawing inspiration from historic Spanish mission architecture. The exterior will feature wood and adobe elements with a rustic color scheme, complementing the region’s distinctive architectural heritage. 

The new Residence Inn is part of PEG’s broader strategy to replenish aging Residence Inns in proven markets with the latest modern prototype. By maintaining the Marriott flag, often converting the markets’ existing Residence Inns into quality workforce housing, PEG ensures continued brand presence while also contributing to much-needed housing supply. 

“Santa Fe is a prime location for an extended-stay hotel, given its vibrant arts district, film industry presence, and major healthcare institutions,” said Cameron Gunter, Founder and Co-CEO of PEG. “This project allows us to modernize and enhance the Residence Inn brand while simultaneously addressing workforce housing needs in other markets.” 

With land acquisition now complete, PEG is preparing to apply for a building permit and expects to begin construction in July 2025. The project is slated for an 18-month build, followed by a one-month pre-opening phase, with an anticipated Q1 2027 opening. 

“The previous Residence Inn in this market had strong demand from government and film industry contracts, and we expect to transition those agreements to the new property,” said Anthony Maxfield, PEG Development Manager overseeing the project. “With a prime location and upgraded amenities, this Residence Inn will set a new standard for extended-stay accommodations in Santa Fe.” 

The hotel will feature a range of amenities tailored for long-term guests, including an outdoor pool with pool deck, outdoor patio with barbecues and firepit, conference room, hearth room with a grand indoor fireplace, fitness center, complimentary breakfast area, guest laundry facilities, and an on-site market. 

This latest development underscores PEG’s commitment to delivering high-quality hospitality assets while strategically managing its portfolio for long-term growth.