Hotel management company TPG to acquire Marshall Hotels & Resorts

LOS ANGELES — TPG Hotels, Resorts and Marinas has announced that it will expand its portfolio by acquiring Marshall Hotels & Resorts.

In a press release, Rhode Island hotel management company TPG called the deal with Maryland’s third-party hotel management company Marshall Hotels & Resorts “an acquisition of talent and equal minds.”

Speaking at the Lodging Industry Investment Council meeting, in conjunction with the Americas Accommodation Investment Summit 2022TPG chief investment officer and principal Robert Leven said his firm had been lucky to get the deal done, although he wondered whether he “should sell rather than buy management companies”.

He added that the time was right for the deal and that existing relationships helped move it forward.

“We were looking to develop our management activity and embark on a [piece] third space,” he said. “In addition, we were looking for a leadership success plan for our management company.

Leven didn’t reveal the price of the deal, but noted several unique factors that led to a strong outcome.

“We’re also very optimistic about long-term investing. We’ve been busy…and we’ll continue to look for other strategic management opportunities, like a lot of people. The scale seems to be, you know, at the agenda,” he added.

Upon completion of the transaction, TPG will have a portfolio of more than 130 branded, independent and boutique-operated properties with approximately 20,000 rooms in 26 states. The combined company will be headquartered in Salisbury, Maryland.

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Nicholas E. Crittendon