Through An Owner’s Lens
TPG Hotels & Resorts is a national operator of hotels across the chain scale from focused service hotels, to lifestyle and resorts, to upper upscale Hotels. We have evolved over three decades as an Owner/Operator and are therefore uniquely qualified to approach hotel management from the owner’s perspective. Whether we are an investor or straight third party operator, we are always operating on behalf of capital partners and our role as entrusted stewards of the hotel assets we operate is to deliver for guests, for investors, and on the brand promise.
CURRENT OPERATING PORTFOLIO
- DoubleTree by Hilton Pittsburgh Green Tree
- Marriott Boston-Newton
- DoubleTree by Hilton Tulsa – Warren Place
- Hyatt Regency Lexington
- Marriott Buffalo – Amherst
- Hilton Chicago / Magnificent Mile Suites
- Hyatt Lisle/Naperville
- Marriott Fort Lauderdale
- Hilton Providence
- DoubleTree by Hilton Baltimore – BWI
- Hilton Dedham
- Sheraton Suites Old Town
- Hilton Atlanta Perimeter Suites
- DoubleTree by Hilton LA Commerce
- Holiday Inn South Kingstown
- Le Méridien Dallas by the Galleria
- DoubleTree Atlanta Roswell
- Sheraton Suites Wilmington, DE
- Hilton Garden Inn Providence
- MOXY by Marriot Washington DC
- Residence Inn Providence
- Staybridge Suites St. Petersburg
- Springhill Suites Wilmington Mayfaire
- Fairfield Inn by Marriott Warwick
- Indigo Hotel Traverse City
- AC by Marriott Washington DC (opening Q2 2020)
- Dupont Courtyard by Marriott DC (opening Q1 2021)
- Hyatt House Richmond, VA (opening Q1 2022)
- Hyatt Place Richmond VA (opening Q1 2022)
Other Independent Hotels
TPG Hotels & Resorts is widely recognized as one of the nation’s premier hotel management companies. For more than three decades we have delivered exceptional experiences to our guests and above-market performance for our investment partners – that’s how we’ve grown to become one of the largest hospitality management firms in the U.S.
Our national operating portfolio includes all the major global hotel brands like Marriott, Hilton, Hyatt, InterContinental, Starwood, Wyndham, Accor and others, as well as multiple independent and boutique properties. TPG Hotels & Resorts’ historical resume includes over 170 hotels with 30,000 guestrooms across 32 states coast-to-coast throughout the United States.
TPG Hotels & Resorts is a highly sophisticated, vertically integrated management organization providing hotel operational, development and renovation services to a wide variety of capital partners and ownership groups. Unlike most management companies, we view every project or management assignment through an owners lens, resulting in superior property performance and optimal value creation for our investment partners.
With more than three decades of hotel management behind us, we’ve learned how to do it right. We understand every facet of successful hotel operations and we are extremely proud to attract and employ the most experienced and passionate professionals in the industry.
TPG Hotels & Resorts is based in the northeast with regional offices in major U.S. markets.
At TPG Hotels & Resorts, Revenue Management plays a key role in driving profitability and growing market share. Our revenue management process is based upon sophisticated research, detailed analysis, a proactive approach to changing market conditions. Our robust corporate revenue management structure led by Senior Vice President Leslie Anderson, consists of a Business Intelligence Team, Regional Directors of Revenue Management, and task force support. Our Revenue Management experts provide guidance and strategic direction to each hotel team to guarantee each asset is producing at its maximum potential.
TPG’s innovative Revenue Management Intelligence Platform presents critical information, streamed in real-time, within a comprehensive dashboard accessed by key decision makers throughout the entire organization from property-level personnel and regional teams to senior corporate executives and support staff.
TPG’s Revenue Management Intelligence platform becomes “Command Central” and the foundation from which the entire organization will set strategy, forecast, analyze data, measure, and report out results. Fully-scalable to accommodate any size hotel or multiple asset portfolio, our proprietary platform incorporates automated feeds that consolidate brand and external market intelligence into an intuitive, easy to use dashboard. With actualized results, market intelligence, and active, forward-looking performance modeling, TPG’s platform enables users to immediately react to even the slightest market chances to ensure revenue opportunities are maximized.
It is through effective execution of real-time strategies that TPG has established a 30-year proven track record earning the Company preferred status with the major brand families including Hilton, Hyatt, InterContinental, Marriott and Starwood. Within our performance-based culture, we blend the most advanced technologies with the best revenue management professionals in the business. We are committed at every level to driving top line revenues, gaining market share, and developing best-in-class revenue management talent.
SALES AND MARKETING
TPG Hotels & Resorts’ approach to Sales and Marketing begins at the Senior levels of the organization. With strong support and oversight by the regional teams, we deploy decades of experience and specialized brand acumen to maximize sales opportunities and drive revenue. TPG Hotels and Resorts is a pre-approved operator of all the major global hotel brands including Marriott, Hilton, Hyatt, IHG, Starwood, Wyndham, and others.
Our regional teams work closely with each hotel to develop, implement and monitor hotel-specific and regional action plans which include direct sales, marketing initiatives, all designed to leverage the strength of the brands. We have excellent success in targeting specific opportunities for revenue growth and index penetration by identifying these demand times early and by focusing both local and regional resources against them through a combination of daily communication and monthly visits to the hotels. Progress is monitored through traditional matrices while remaining agile in our execution to ensure full advantage of every opportunity is exploited.
Through our senior sales leadership, TPG enjoys an excellent relationship with all major third party planners located throughout the United States and leverages these relationships, as well as our geographic density to move business into our portfolio.
TPG’s progressive e-commerce initiatives are fine-tuned and generated through a proprietary owned database geared toward known repeat travelers into the market. This database, and the ensuing initiatives, produce returns well above a 10:1 benchmark and in some cases up to 40:1 ROI’s. We have an excellent track record in generating incremental and share shifting revenues out of our competitive sets by leveraging our brand.com websites as well as independent vanity sites as we see opportunities to enhance the hotel’s presence. TPG’s Senior Vice President of Sales and Marketing serves on E-commerce Advisory Boards for Marriott, Starwood, and IHG.
Our existing relationships, through our branded assets and our independent assets ensure very strong relationships with major on-line third party vendors including Expedia, Travelocity, Orbitz, Getaroom.com, Price and Hotwire. Our inventory in high usage markets, as well as non-branded affiliations in these markets, allows us to offer significant inventory and highly desirable margins, thus ensuring we’re able to leverage these relationships for better premium placement in our branded hotels.
Reservation Management via Branded Connectivity – A single portal that connects all reservations channels – GDS, Voice Call Centers, Hotel Websites and Online Travel Agents – our state of the art reservations system makes it easy to manage all rate products in one place.
Revenue Management Support – Every hotel is assigned a Revenue Account Manager. The team of experts works with TPG hotels to develop smart rate strategies to increase RevPAR through all distribution channels. All rates are loaded and checked by specialists.
Sales Presence – TPG provides sales support through nearly hundreds of dedicated sales professionals. Strong relationships in all market segments – leisure, corporate, and group – create substantial opportunities for our hotels. The group sales team concentrates on generating sales leads every month and the corporate sales team manages major negotiated corporate accounts worldwide.
Capturing the Corporate Market – All TPG hotels have access to the premier automated tools for maximizing the corporate RFP process. Through online member portal, hotels are provided with proprietary sales and contact data on hundreds of managed corporate accounts, travel agents and tour operators.
Travel Management Companies (TMC’s) – Brand-level partnerships with American Express Travel, BCD, HRG and Carlson Wagonlit create opportunities for TPG hotels including GDS biasing, joint marketing initiatives and TMC office access for sales calls.
Group Sales – TPG Hospitality also maintains official partnerships with key corporate accounts placing groups and meeting business. These partnerships give the hotels access to planners and priority receipt of RFPs from these sought after organizations.
Targeted Marketing Services – TPG Hospitality provides an array of marketing services, including annual global co-operative advertising programs, monthly brand e-newsletters and travel agent promotions. In addition, TPG hotels can take advantage of iTools, a suite of customizable solutions that range from rate shopping tools to market intelligence reports and targeted email campaigns.
Branding, PR and Publications – TPG Hospitality leverages the global branding initiatives for all its brands because branded hotels consistently outperform their competitive set. To maximize awareness custom brand directories are published annually and magazines published bi-annually. Comprehensive, easy-to-use brand websites are supported by search engine optimization and pay-per-click advertising. Monthly brand e-newsletters showcase news and offers to thousands of travelers. All brands are also supported by an annual global PR Plan.
Quality Assurance – TPG Hospitality has developed a comprehensive quality standards checklist. The objective is to help improve product offering and customer satisfaction every day.
ACCOUNTING AND FINANCE
From the expertise and experience of the corporate and regional level, the properties are given oversight and direction in all accounting disciplines.
TPG uses the Uniform System of Accounts for the Lodging Industry 11th edition to establish standardized reporting formats and account classifications in the preparation and presentation of their financial statements.
TPG properties follow established company polices and reporting requirements. The policies and procedures ensure all revenues are captured and reported properly, payroll and expenses are kept within budget and forecast, and property assets are protected. Time and attendance is monitored daily to the established schedules. The Time and Attendance system limit punches to the associates’ schedule.
The system is enhanced with Biometric detection to limit only the employee to punch in or out. Labor schedules are based on forecasted revenues each week and are adjusted during the week if forecasted demand changes. Declining balance expense checkbooks are used to keep expenses from exceeded budget and forecast. An on-line purchasing program has been instituted which requires on-line approval by the Director of Finance and General Manager prior to the order being placed and the hotel has established purchase order limits. If these limits are exceeded, Regional and or Corporate approval is needed. TPG uses an extensive internal audit program provided by a third party to ensure TPG Policies and Procedures are adhered to.
TPG uses an internet based accounting software package that allows regional and corporate access to daily results as well as drill down capabilities of the monthly results. TPG currently requires forecasting of the remainder of the year at the beginning of each month, a mid-month forecast is completed updating the current month. If revenues are declining from the beginning of the month, expenses and labor expenditures are reduced. The current month forecast is again completed the third week of the month. The property adjusts expense as much as possible to offset any declines in revenues with the requirement being at least 50% flex to the revenue decline.
With access to hundreds of comparable hotels, TPG is able to benchmark hotels to analyze where there are cost reduction opportunities.
Being responsive to guests’ needs is a passion shared and nurtured by everyone at TPG. We support an entrepreneurial culture and empower associates and managers to make decisions that improve guest experiences.
We know that it’s the people of TPG Hotels & Resorts that set us apart. We are proud of our ability to recruit, train and retain the industry’s best hospitality talent. From coast to coast, TPG-managed properties are recognized as great places to work and build long careers – and we’ve got employees that have been with us for decades to prove it. We strive to make employment with TPG Hotels & Resorts rewarding, enriching and fulfilling and we aim to provide clear paths for professional development and growth.
TPG provides comprehensive human resource services for first-class hotel and resort properties throughout the country. As such, TPG is able to draw from locations within a reasonable proximity to most acquisitions to provide competent manpower experienced in the operation of upscale hotels. Manpower may be provided on a task-force, interim or permanent transfer basis. In addition, TPG employs seasoned Regional Directors and Area Managers in Sales, Operations, Revenue Management, Finance and Human Resources, providing expertise and oversight throughout the transition process.
TPG has successfully completed hotel acquisitions/transitions with as few as 25 employees, to multiple properties employing over 1,000. Utilizing the resources of Mercer Health & Benefits, leaders in benefits consulting and administration, TPG provides flexible benefit options to meet property-specific financial and employee needs. Company sponsored benefits include medical, dental, and group life insurance provided through nationally recognized carriers such as Blue Cross Blue Shield and CIGNA, as well as a 401(k) retirement plan administered by VOYA. Additional benefits include vision insurance, short and long-term disability, and supplemental life insurance. With national purchasing power and an aggressive approach to renewal negotiations, TPG strives to minimize premium rate increases. This allows TPG to offer a competitive benefits package while effectively containing benefit costs.
Corporate support is provided to hotels in all areas of human resources, including employee relations, legal and labor negotiations, compliance, benefits administration, recruitment and training. Corporate management personnel each have at least 20 years’ experience in hotel human resources, with backgrounds including independent hotels, hotel management companies, and all the major brands. A targeted focus on compliance, associate satisfaction through sound management practices, and accessibility to address employee concerns, enables TPG to resolve issues quickly and fairly.
TPG has partnered our diverse portfolio of hotels with Supply Management, a leading provider of supply management resources in the hospitality industry. Our partnership maximizes its purchasing power of over $3 billion with over 3,000 hotels worldwide, and provides services to most hotel brands within North America and the Caribbean. Our partner provides an efficient large scale purchasing operation and resources reducing overhead. This creates value for our hotel owners and operators to gain a competitive advantage from supply markets by focusing on innovation, growth, value chain optimization, strategic cost management, risk management and supply continuity. In line with our own commitment, their fundamental principles are focused on quality, best price/value, convenience, integrity, and innovation.
TPG’s owned and managed hotels have complete access to global strategic sourcing, and regional purchasing supply management teams, that focus on national / regional distribution and service programs that focus on Food & Beverage operations, Rooms FF&E/OS&E, Property Operations, Travel Management, Energy Management and more.
TPG also offers a state of the art e-commerce buying platform powered by Birch Street systems, a proprietary spend management solution. This web based purchasing system gives our hotels complete access to all leveraged manufacturer and distribution programs. Our properties source products, create custom catalogs, generate purchase orders, and route for funds authorization to ensure costs are effectively managed. This fully automated system consolidates line item detailed purchasing spend data which allow us to generate reports that identify areas of opportunity for developing new national leveraged buying programs or to strategically align with existing ones. TPG has over 650 system users, and administrators utilizing Birch Street currently. The system helps reduce the risk, complexity and costs associated with managing spend.
TPG leverages its Information Technology systems by consolidating major components crucial to hotel operations where possible. We are constantly working to implement long-term, flexible solutions that allow multiple properties to utilize the same infrastructure. A centralized help desk for IT support and vendor management typically eliminates the need for any IT staff on property. By partnering with a National IT firm, TPG is able to dispatch engineers quickly in all areas of the country should the need for onsite support arise.
For the purposes of risk mitigation, TPG critical information technology systems are physically spread out geographically. Spreading these major components out across several geographic locations reduces the effect a physical disaster would have on TPG operations nationwide. TPG’s fully scalable IT platform allows for easy integration of new hotels and is positioned to accommodate the company’s expanding portfolio.
HOTEL DEVELOPMENT & CONSTRUCTION
As a core discipline within the Procaccianti Family of Companies since 1958, our Portfolio Development Team has worked side-by-side with our in-house construction affiliate, TPG Development and Construction (TPGdevcon), to deliver hundreds of award-winning new builds, renovations, brand conversions, adaptive reuse and other hotel development projects.
GROUND-UP and NEW BUILD HOTELS
For decades, we have provided hotel investors and ownership groups with comprehensive ground-up and new build services for all types of hospitality assets. We can assist with every aspect of hotel development and construction from site selection and competitive analysis’, to hotel programming, pre-development services, project management, construction management and FFE.
HOTEL RENOVATIONS, REPOSITIONINGS and CONVERSIONS
TPG Development and Construction (TPGdevcon) offers a full, turn-key approach to hotel renovation and rebranding projects. With over three decades of experience in the hotel business, and hundreds of hotel renovations to our credit, TPGdevcon has earned praised from the most respected global hotel brands for stylish, relevant designs and skilled workmanship that achieve the highest standards of quality and sustainability – which translates into superior guest experiences.
To learn more about our hotel development and construction services and to see examples of our extensive experience, please visit www.TPGdevcon.com.
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Vice President, Public Affairs
1140 Reservoir Avenue
Cranston, RI 02920