Peabody history dates back to 1869 and when the original Peabody Hotel opened on the corner of Main & Monroe and immediately became the social and business hub of Memphis. In 1925 a newer, grander Peabody was built at its present location at Union and 2nd Street continuing the legacy of the "South's Grand Hotel." It was 1933 when ducks were originally placed in the hotel's lobby fountain, setting in motion an 80-year tradition that continues today with the March of the Peabody Ducks. The Peabody name has become synonymous with the 5 North American mallard ducks that are now the living symbol of the Peabody brand.

The company that brought The Peabody back to life when they purchased the hotel is Belz Enterprises, a highly successful, multifaceted real estate development and management firm based in Memphis, Tennessee. Starting out as one of the largest Holiday Inn franchisers in the business and then moving on to full-service luxury hotels, Belz Enterprises has a long standing history within the hotel industry.

Most recently, Belz Enterprises has established Peabody Hotels & Resorts, a hotel and resort management venture that will leverage the ongoing Peabody brand success. Peabody Hotels & Resorts provides solutions for raising brand awareness and increasing financial performance via its long-standing tradition of providing exceptional hotel experiences and creating memories that last a lifetime. Legendary, charming, elegant, and grand are just a few words that describe what sets Peabody Hotels apart from other hotel brands.

The Peabody Hotel is well known in the area for the Peabody Ducks that live on the rooftop and visit the lobby daily. The peabody hotel is also known for being haunted by a ghost that likes to wander around the Eleventh floor of the hotel. This ghost like to whisper as he walks through the hotel and guests have also noticed cold spots and strange noises all coming from the eleventh floor.