PROVIDENCE, Rhode Island—TPG Hotels & Resorts announced they added nearly 30 new third-party management contracts in 2022.
“Owners are facing challenges today like never before and are looking to cycle-tested management companies like TPG to provide operational excellence and help increase overall profitability to maximize the values of their investments,” said Tim Muir, chief development officer, TPG Hotels & Resorts. “We are extremely bullish moving into 2023; we’re currently in numerous conversations with single-asset and portfolio owners regarding third-party management opportunities, and TPG has the people, resources, experience, technology, and track record to deliver results.”
During 2022, TPG’s new management assignments spanned from full-service hotels like the Kimpton Overland Airport Hotel in Atlanta, Georgia, to independent properties located in the Florida Keys and Cape Cod, Massachusetts. Specific examples of TPG’s 2022 management assignments included: Kimpton Monaco Inner Harbor—Baltimore, Maryland; Courtyard by Marriott—St. Petersburg, Florida; Holiday Inn Express—Gaffney, South Carolina; Fisher Inn Resort & Marina—Islamorada, Florida, and the Chatham Wayside Inn—Chatham, Massachusetts.
“We are seeing a strong demand for operational experience by hotel owners,” said Mike Marshall, president, TPG Hotels & Resorts. “Owners are engaging TPG to help achieve investment and profitability objectives in this time of economic uncertainty. In today’s environment, successful hotel operation relies heavily on time-tested strategies combined with the new technologies to maximize performance, and TPG’s third-party platform is among the most robust in the industry.”