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TPG Hotels & Resorts Selected to Manage Three Iconic Buffalo Properties
September 20, 2023 (Providence, RI)— TPG Hotels & Resorts, one of the nation's premier hospitality management firms, announced today it has been selected by Douglas Development to manage three upscale independent boutique properties in Buffalo, New York. The properties include The Richardson Hotel, The Roycraft Inn, and The Mansion on Delaware.
"These historic assets have been meticulously redeveloped and maintained by a premier ownership group," said Ben Perelmuter, President of TPG Hotels & Resorts. "We feel privileged to be entrusted with the management of these extraordinary properties by Douglas Development. Our sophisticated management systems, marketing, and revenue management strategies will enhance the value of the assets and drive performance ahead of their competitive set in the market. The addition of these properties to our growing third-party managed portfolio aligns perfectly with our strategy to seek high-quality 3rd party management opportunities of branded and non-branded assets throughout the United States."
The 88-room Richardson Hotel is a dramatic adaptive reuse that transitioned from an 1870s psychiatric New York State hospital to a historic upscale boutique hotel. The property sits on 40 acres and is located steps away from Buffalo State University and within close proximity to the Buffalo Zoo, Shea's Performing Arts Center, and Niagara Convention Center. It features a 24-hour fitness center, business center, and over 7,000 square feet of meeting space for corporate meetings and life cycle events.
The 28-luxury suite Roycroft Inn is a historic property that is part of the Roycroft Campus, which was opened in 1897 by Elbert Hubbard, who founded the American Arts & Crafts Movement in East Aurora, New York. In 1905, The Roycroft Inn began welcoming guests and artisans. The campus received National Landmark Historic status in 1986 and underwent an $8 million renovation in 1995, which restored the property to its original splendor. It was reopened to guests in 1995 and features an award-winning restaurant, beautiful gardens available for life cycle events, and allows guests easy access to museums and shopping.
The 28-room Mansion on Delaware is a 19th-century mansion that transitioned into an upscale modern hotel and event center. The property is tucked in the heart of Buffalo, but its lush city gardens offer an urban escape within steps from great restaurants, shopping, and theatre.
"TPG Hotels & Resorts has proven themselves as a trusted management partner over the past several years," said Douglas Jemal, Founder, Douglas Development. "We are confident TPG will continue to deliver top-tier performance with these exceptional, market-leading properties in Buffalo."
About TPG Hotels & Resorts
TPG Hotels & Resorts is an operator of hospitality assets across all chain scales. The firm's historical resume includes over 600 branded, independent, boutique hotels and marinas, comprising more than 65,000 guestrooms in 41 states. TPG Hotels & Resorts is a vertically integrated organization actively engaged in hotel and marina operations, development, acquisitions, and asset repositionings across the country. For more information, please visit www.tpghotelsandresorts.com.