ATLANTA--(BUSINESS WIRE)--Nov 6, 2024--
Peachtree Group (“Peachtree”) has announced a long-term partnership with Southfield, Michigan-based Group 10 Management (“Group 10”), expanding its managed portfolio with 14 new hotels totaling 1,648 rooms. This milestone growth pushes Peachtree's total managed operations beyond 100 hotels and solidifies its position as a leading third-party hotel manager. The properties are primarily Marriott, Hilton and IHG-branded hotels and are predominantly located in the metro Detroit area.
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Peachtree Group (“Peachtree”) has announced a long-term partnership with Southfield, Michigan-based Group 10 Management (“Group 10”), expanding its managed portfolio with 14 new hotels totaling 1,648 rooms, including the Courtyard by Marriott Detroit Farmington (pictured). (Photo: Business Wire)
“Our extensive experience in hotel operations allows us to partner with Group 10 to take third-party management to a whole new level,” said Vickie Callahan, president of Peachtree’s hospitality management division. “A substantial portion of Peachtree Group’s portfolio is third-party managed, underscoring our commitment to driving strong financial results for our partners while providing exceptional guest experiences.”
Peachtree’s hospitality management division operates premium-branded, limited-, select- and compact full-service hotels primarily within the upper-midscale and upscale segments. The division now manages 107 hotels across 27 brands totaling 13,485 rooms in 27 states, including Washington D.C. With the addition of the Group 10 properties, Peachtree’s third-party management portfolio expands to 31 hotels.
Through this partnership, Group 10 will benefit from Peachtree’s extensive expertise in compliance with brand standards, scalable operating efficiencies, skilled talent acquisition, digital and marketing initiatives, renovation expertise and other cost-saving measures across the portfolio.
“Peachtree’s expanded portfolio further emphasizes its dedication to delivering high-quality service and operational excellence for partners and guests across the U.S.,” Callahan added.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
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CONTACT: Charles Talbert
678-823-7683
KEYWORD: MICHIGAN GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: REIT LODGING COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY TRAVEL
SOURCE: Peachtree Group
Copyright Business Wire 2024.
PUB: 11/06/2024 08:55 AM/DISC: 11/06/2024 08:55 AM
http://www.businesswire.com/news/home/20241106739331/en
