PeachState Hospitality picks TPG to manage properties

The companies also entered agreement for management of additional hotels in the pipeline

0
129
PeachState Hospitality
TPG Hotels & Resorts will manage 10 Georgia properties owned by PeachState Hospitality, led by Danny Patel as president and CEO. Pictured is the Residence Inn Decatur in Decatur, Georgia.

PEACHSTATE HOSPITALITY RECENTLY selected TPG Hotels & Resorts to manage 10 properties. The contract includes eight Marriott select service hotels and two IHG Hotels & Resorts select service hotels in Georgia.

Both the firms have entered into an exclusive strategic agreement for the management of additional hotels in the current and future pipeline to be developed by PeachState Hospitality which is headed by Danny Patel as president and CEO, the statement added.

“PeachState Hospitality is a leading owner and developer in our industry, and we are pleased to welcome them as a new partner and these exceptional properties into our portfolio,” said Tim Muir, chief development officer, TPG Hotels & Resorts. “We look forward to growing our partnership as they accelerate their development platform over the next few years.”

“We are thrilled to welcome the PeachState properties to our national portfolio,” said Mike Marshall, president, TPG Hotels & Resorts. “Our operations philosophies, cultures, and core values are fully-aligned with PeachState’s, which enables us to leverage our collective experience and resources to ensure optimal property performance and profitability.”

TPG Hotels & Resorts’ portfolio includes over 500 branded, independent, boutique hotels and marinas, comprising more than 65,000 guestrooms in 41 states.

“It was important to us to partner with a company that would not only ensure our assets would be profitable, but one that also shares our culture, values, and philosophy with regard to our associates and guests,” said Ricky Raman, PeachState chief operating officer. “PeachState Hospitality will continue to remain an active investor in the travel and lodging space via our long-standing development platform. This strategic partnership with TPG further enhances PeachState’s ability to develop and execute strategies within the hospitality industry.”

In December, Georgia hotelier Navin Patel contracted with Hospitality Ventures Management Group to manage his 111-room boutique Darwin Hotel in Atlanta.