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Peachtree picked to manage six hotels

The additions bring its total third-party hotels to 42

Peachtree adds six hotels to its third-party management platform

Peachtree Group’s hospitality management division added six hotels to its third-party management platform.

Photo credit: Peachtree Group

Summary:

  • Peachtree adds six hotels to third-party platform.
  • Five are owned by La Posada Group, one by Decatur Properties.
  • Third-party portfolio totals 42 hotels.

PEACHTREE GROUP’S HOSPITALITY management division added six hotels to its third-party management platform. Five are owned by La Posada Group LLC and one by Decatur Properties Holdings.


La Posada’s hotels include Fairfield Inn Evansville East in Evansville, Indiana; Fairfield Inn Las Cruces and TownePlace Suites Las Cruces in Las Cruces, New Mexico; and SpringHill Suites Lawrence Downtown and TownePlace Suites Kansas City Overland Park in Kansas, Peachtree said in a statement.

It also assumed management of Decatur Properties’ Hampton Inn in Monahans, Texas.

“Our third-party management business is experiencing growth and these six hotels demonstrate the trust owners are placing in our team,” said Vickie Callahan, president of Peachtree’s hospitality management division. “We have experience managing hotels and managing operations for partners who have entrusted us with their assets. We are committed to protecting asset value, driving results for partners and delivering a strong guest experience.”

The division manages hotels across brands and markets nationwide, the statement said. It operates 115 hotels across 29 brands with 14,212 rooms in 27 states and Washington, D.C. The additions bring its total third-party operations to 42 hotels.

Callahan said the team uses scale, operating systems and brand relationships to optimize revenue, control costs and improve guest satisfaction.

Atlanta-based Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO and Mitul Patel, principal.

In July, Peachtree launched a $250 million fund to invest in hotel and commercial real estate assets mispriced due to capital market illiquidity.

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Photo credit: Wyndham Hotels & Resorts

Wyndham’s RevPAR dropped 5 percent in Q3

Summary:

  • Wyndham’s global RevPAR fell 5 percent in the third quarter.
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  • Development pipeline grew 4 percent year over year to 257,000 rooms.

WYNDHAM HOTELS & RESORTS reported a 5 percent decline in global RevPAR in the third quarter, with U.S. RevPAR down 5 percent and international RevPAR down 2 percent. Net income rose 3 percent year over year to $105 million and adjusted net income was $112 million.

The company’s development pipeline grew 4 percent year over year and 1 percent sequentially to 257,000 rooms, Wyndham said in a statement.

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