tpg
South Street Partners and TPG Acquire The King and Prince Beach & Golf Resort on St. Simons Island From MMI Hospitality Group
South Street Partners | August 13, 2024
ST. SIMONS ISLAND, Ga., Aug. 13, 2024 -- South Street Partners ("South Street"), a leading private equity real estate investment firm headquartered in Charlotte and Charleston, and TPG Real Estate, the dedicated real estate platform of global alternative asset management firm TPG, announced today that they have formed a joint venture (the "JV") to acquire The King and Prince Beach & Golf Resort ("The King and Prince" or "the resort"), the largest beachfront resort in coastal Georgia's Golden Isles. South Street and TPG Real Estate are acquiring the resort and golf club from MMI Hospitality Group ("MMI"), a Mississippi-based, ...
Room Mate Hotels Expands Presence Across Spain With Acquisition of Staying Valencia
Room Mate Hotels | July 8, 2024
MADRID--Room Mate Hospitality & Leisure, S.L. (“Room Mate Hotels”), a leading lifestyle hotel brand and lease management company headquartered in Madrid, today announced the acquisition of Staying Valencia, a portfolio of boutique hotels and aparthotels in Valencia. This strategic acquisition marks a significant milestone in Room Mate Hotels’ expansion strategy, bolstered by the support of TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, and Westmont Hospitality (“Westmont”), which together acquired Room Mate Hotels in 2022. Staying Valencia operates a portfolio of 10 boutique properties ...
The Lost Hotels Of Midtown New York
Dexter Wood | January 12, 2023
By Dexter Wood Several legendary properties remain closed in Midtown New York, and most will never reopen. Luxury hotel demand staged a respectable resurgence last year as the dreadful impact of the pandemic continued to fade. Trailing twelve-month RevPAR for luxury hotels in NYC, as of November 2022, has already surpassed its pre-pandemic benchmark from December 2018. This was a welcome improvement for prominent Midtown hotels that had reopened after many months of closure, including the Mandarin Oriental, Ritz-Carlton, The Plaza, St. Regis, The Peninsula, and the Lotte New York Palace. However, some well-known properties that enjoy...
Still Stuck in the Hotel Debt Quagmire
Dexter Wood | November 17, 2022
By Dexter Wood Little has improved in the realm of lodging debt maturities and the hotel refinancing environment since we last reported in August. Perhaps it will be the passage of time that gets us closer to the other side of the current period of difficulty and insecurity. There are simply too many variables at play at the moment and a lack of confidence in the near-term future of the debt markets. As Lou Plasencia, CEO of The Plasencia Group, recently wrote, “markets hate uncertainty.” Debt markets only work when lenders can effectively and appropriately price risk, and that is very difficult to do right now. Many lodging industr...
TPG Hotels, Resorts & Marinas Opens Holiday Inn Express Gaffney
TPG Hotels, Resorts, & Marinas | May 9, 2022
May 9, 2022 (Providence, RI)— TPG Hotels, Resorts & Marinas, one of the nations’ premier hospitality management firms, announced today the grand opening of the Holiday Inn Express Gaffney, located in Gaffney, South Carolina. This 81-room property, owned by Jalaram Hotel Gaffney, Inc., is the newest hotel in TPG’s growing third-party managed portfolio. “With the opening of the Holiday Inn Express Gaffney, business and leisure travelers will now have a convenient brand-new hotel option in the heart of Gaffney,” said Mike Marshall, President and Chief Operating Officer for TPG Hotels, Resorts, & Marinas. ...
Douglas Development Selects TPG Hotels, Resorts & Marinas to Manage the Kimpton Hotel Monaco Baltimore in Maryland
TPG Hotels, Resorts & Marinas | April 19, 2022
Providence, RI – TPG Hotels, Resorts & Marinas, one of the nation’s premier third-party hospitality management firms, announced today it was selected to manage the Kimpton Hotel Monaco Baltimore, located at the intersection of St. Charles Street and West Baltimore Street in the Inner Harbor section of Baltimore, Maryland. The 202-room, full-service property boasts over 10,000 square feet of meeting space and the B&O American Brasserie Restaurant. “Downtown Baltimore has recently experienced substantive changes in the lodging inventory in the wake of the pandemic,” states Mike Marshall, President and Chief Operating Officer...
TPG Hotels, Resorts, and Marinas Acquires Marshall Hotels & Resorts
Marshall Hotels and Resorts, Inc. | January 26, 2022
Providence, RI — January 26, 2022 — TPG Hotels, Resorts and Marinas (TPG), one of the nation's premier hospitality firms, today announced an "acquisition of equal talents and minds" with the addition of Marshall Hotels and Resorts, a leading hotel management and services company with special expertise operating three and four-star branded hotels and resorts. The combined company will be headquartered in Salisbury, MD, and will oversee all day-to-day operations of the entire national portfolio of properties. "This is a win-win for all parties involved," said Mike Marshall, who will serve as president and CEO of the combined com...
Procaccianti Companies Acquires The Postcard Inn on The Beach in St. Pete Beach, Florida
TPG Hotels & Resorts | November 15, 2017
TPG Hotels & Resorts to Manage Hotel Cranston, R.I., November 15, 2017 — Procaccianti Companies, the nation's premier privately-held owner & developer of quality hospitality assets, today announced the acquisition of the 196-room Postcard Inn on The Beach in St. Pete Beach, Fla., for an undisclosed amount. TPG Hotels & Resorts, Procaccianti Companies' wholly owned operating company, will manage the property. This marks the 5th acquisition completed this year, putting the company on track for a record year in 2017. "With its irreplaceable beachfront location, the Postcard Inn is a wonderful addition to our national port...
