The original Peabody Hotel opened in 1869 as a symbol of the South's rebirth. Named for philanthropist George Peabody, it quickly became the business and social hub of Memphis. In 1925, The Peabody was rebuilt at its present location on Union Avenue. In 1932, General Manager Frank Schutt returned from a hunting trip and mischievously placed live duck decoys in the hotel's lobby fountain and the tradition of the March of The Peabody Ducks was born. In the mid-1970s, as Memphis experienced economic decline, The Peabody to close its doors. But the "South's Grand Hotel" would not stay shuttered for long. The Peabody re-opened in 1981 after an extensive restoration, breathing new life into downtown Memphis.