ATLANTA--(BUSINESS WIRE)--Jan 5, 2021--
Officials of Peachtree Hotel Group, one of the nation’s fastest growing hotel investment and management platforms, and Zenique Hotels, a family-owned hotel owner, developer and operator based in Calif., today announced the two organizations have formed a strategic partnership. Under the terms of the agreement, Peachtree Hospitality Management (PHM), PHG’s operational division, will manage Zenique’s current portfolio of four hotels. The strategic partnership also makes PHM the operator of all Zenique’s future hotels as it continues to grow nationwide.
“We continue to seek best-in-class partners such as Zenique as we embark upon our own aggressive growth plans,” said Patrick Short, president, PHM. “PHM is dedicated to growing its third-party management business, and portfolio agreements with owner/developers certainly are attractive to us. Fortunately for this partnership specifically, we enjoy the extra bonus of similar cultures focused on our team members, guests and the communities in which we operate, making the deal that much more seamless. We truly see this as a win-win for everyone involved.”
Zenique’s current portfolio includes four hotels located throughout California.
“This strategic partnership allows us to grow beyond our historic stomping grounds of California,” said Rupesh Patel, president and COO, Zenique. “Peachtree is well respected throughout the industry and has nationwide experience operating numerous brands in multiple segments and markets. Furthermore, their existing relationships with major brands like Hilton, Hyatt, Marriot and IHG will prove invaluable as we continue our aggressive growth strategy. Our ‘ideal’ hotel is three-star or higher, limited- and full-service to extended-stay and with 100-plus rooms, all of which are in Peachtree’s operational wheelhouse.”
Peachtree Hospitality Management, a division of Peachtree Hotel Group, is a hotel management company that creates loyalty across all stakeholders: team members, guests and owners. PHM’s proprietary systems and processes maximize financial performance and value of every asset, deliver efficiencies and enable hotel teams to provide guests with unique and memorable experiences. PHM manages 59 hotels across 20 brands, with 7,023 rooms located in 17 states. In 2020, PHM ranked number 40 on top hotel management company list – up 15 spots since 2019.
Peachtree Hotel Group operates, develops and invests in premium-branded, full-, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has invested in more than $4.2 billion of hotel properties and first mortgage notes. Peachtree's current portfolio is comprised 160 hotels or hotel backed assets totaling 20,366 rooms, 63 hotels and 97 notes. For more information, please visit .
Zenique Hotels is a family-owned business that has been in the hotel industry for nearly five decades. The company has owned and operated more than a dozen hotels in the Bay Area, all of which were award winners within their respective brands. Zenique has developed multiple hotels from the ground up and has repositioned several others, as well. With the new strategic partnership with PHM, Zenique Hotels plans to form a new investment group to acquire, develop and reposition hotels nationwide.
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Peachtree Hospitality Management
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SOURCE: Peachtree Hotel Group
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PUB: 01/05/2021 08:55 AM/DISC: 01/05/2021 08:55 AM