ATLANTA, March 15, 2023–(BUSINESS WIRE)–Peachtree Hospitality Administration (“PHM”) has entered into agreements with TEKMAK Growth Firm (“TEKMAK”), a full-service hospitality growth firm, to offer third-party administration companies for a portion of its resort portfolio. PHM will assume operations of the SpringHill Suites Dallas Rockwall on Aug. 1, 2023, and is slated to handle two under-construction lodges, a dual-branded TownePlace Suites by Marriott and Fairfield by Marriott in Paris, Texas, and a TownePlace Suites by Marriott in Forney, Texas.
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Peachtree Hospitality Administration (“PHM”) has entered into agreements with TEKMAK Growth Firm (“TEKMAK”), a full-service hospitality growth firm, to offer third-party administration companies for a portion of its resort portfolio. PHM will assume operations of the SpringHill Suites Dallas Rockwall (pictured) on Aug. 1, 2023, and is slated to handle two under-construction lodges, a dual-branded TownePlace Suites by Marriott and Fairfield by Marriott in Paris, Texas, and a TownePlace Suites by Marriott in Forney, Texas. (Photograph: Enterprise Wire)
“That is the second long-term administration settlement we’ve entered into already in 2023, and we are going to proceed to hunt best-in-class companions like TEKMAK as we pursue our personal third-party administration progress targets,” stated Patrick Quick, PHM’s president. “Our third-party operated portfolio continues to broaden, presently accounting for practically a 3rd of our complete managed portfolio, and we anticipate to proceed rising our third-party portfolio shifting ahead, in the end surpassing our owned lodges.”
A division of Peachtree Group, PHM operates premium-branded, limited-, select- and compact full-service lodges primarily within the upper-midscale and upscale segments. At present, the corporate manages 92 lodges throughout 28 manufacturers with 11,186 rooms in 22 states. These three TEKMAK lodges enhance PHM’s third-party operations to 34 lodges.
“I first grew to become acquainted with the Peachtree crew once they acquired our Hilton Backyard Inn resort in 2021. I’m impressed with all points of this firm, significantly their administration division,” stated Thomas Kirkland, CEO, TEKMAK. “It rapidly grew to become clear that their tradition and assets meshed effectively with our personal, making this relationship an ideal match for each. We proceed to be impressed by their enthusiasm for TEKMAK, and we sit up for future alternatives collectively.”
About Peachtree Hospitality Administration
Peachtree Hospitality Administration, an affiliate of Peachtree Group, is a resort administration firm that creates loyalty throughout all stakeholders – crew members, visitors and homeowners. PHM’s proprietary methods and processes maximize monetary efficiency and worth of each asset, ship efficiencies and allow resort groups to offer visitors with an unusual buyer expertise. PHM manages the efficiency of 92 lodges throughout 28 manufacturers with 11,186 rooms situated in 22 states. For extra data, go to www.peachtreegroup.com.
About Peachtree Group
Peachtree is a personal fairness funding, asset and fund administration agency specializing in opportunistically deploying capital throughout its distinct working and actual property divisions, together with hospitality, industrial actual property lending, residential growth, capital markets and media. Since its founding in 2008, the corporate has accomplished a whole bunch of actual property investments valued at greater than $8.2 billion in complete market capitalization and presently has greater than $2.5 billion in fairness beneath administration. For extra data, go to www.peachtreegroup.com.
About TEKMAK Growth Firm
TEKMAK Growth Firm is a full-service hospitality growth firm with a nationwide status for delivering confirmed outcomes. Since 1998, TEKMAK has developed such main resort manufacturers as Hyatt Place®, Courtyard by Marriott®, Springhill Suites by Marriott®, TownePlace Suites by Marriott®, Hilton Backyard Inn®, Staybridge Suites® and Finest Western Premier®. Starting with cautious web site choice, TEKMAK seeks to establish acceptable franchises and types that greatest serve the wants of the markets by which properties are situated. The corporate’s growth crew selects design professionals that add a singular and distinctive customized contact which units its lodges other than the norm and connects them with the local people. For added data on the corporate, please go to https://www.tekmakdevelopment.com/.
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