TPG Hotels, Resorts and Marinas (TPG) has reportedly acquired Marshall Hotels and Resorts, terming it as an “acquisition of equal talents and minds”. Marshall Hotels and Resorts, led by Mike Marshall, is ranked among the top 25 hotel management companies in the USA, having expertise in operating three- and four-star branded hotels and resorts. The combined company will be headquartered in Salisbury, MD, from where all the day-to-day operations of the entire national portfolio of properties will be managed.
Mike Marshall will serve as the President and CEO of the combined companies. After the merging of the properties of both companies under a single umbrella, they immediately make it to the list of the 10 biggest third-party hotel management companies in the USA. With the completion of the transaction, TPG will have a portfolio of more than 120 operated properties comprising nearly 18,000 rooms in 25 states.
This is win-win for all parties involved. By putting our organizations together, we immediately become one of the 10 largest third-party management providers in the hospitality industry. This creates advantages and efficiencies due to the combined workforce’s economies of scale, depth, talent and deployment of best practices across the portfolio,” Mike Marshall commented.
“This acquisition is a natural fit for both Marshall and TPG. Relationships are so important in our business, and this is a merger of relationships which will allow us to use our collective resources, systems and experiences to provide our owners with higher returns and increased profitability for their properties,” said Robert Leven, chief investment officer, The Procaccianti Companies, TPG’s parent company.