Hotel management company PM Hotel Group has entered a partnership with TQP Capital Partners to identify and pursue new business opportunities, reports HospitalityNet.
The partnership will focus on originating mergers and acquisitions, identifying off-market opportunities and sourcing new third-party management contracts.
It is also expected to allow PM Hotel Group and TQP Capital Partners to jointly invest equity.
TQP Capital Partners principal Thomas Prins, who has extensive background in hotel acquisitions and strategic partnerships, will assist TQP Capital Partners in growing its portfolio.
PM Hotel Group president Joseph Bojanowski said: “The new collaboration with TQP Capital Partners is a testament to PM Hotel Group’s commitment to strategic growth and continued excellence in hotel management.
“With Prins invaluable expertise, we are confident that PM Hotel Group will achieve yet unreached milestones and discover new opportunities in the hospitality management space.”
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The alliance is intended to offer benefits to hotel owners seeking management transitions, facilitating seamless changes in management.
Thomas Prins said: “Our alliance with PM Hotel Group represents a synergy of expertise and vision, and I am excited to contribute to the growth and innovation of this dynamic organisation.
“Together, we will redefine success in the hospitality industry by identifying and capitalising on unique business prospects.”
Earlier in January 2024, PM Hotel Group was selected to oversee the management of Southbank Hotel Jacksonville Riverwalk in Florida, the US.
The property is part of the Delta Hotels portfolio by Marriott International.
PM Hotel Group currently includes a diverse portfolio of hotels including Hotel Hive in Washington, Hotel Du Pont in Wilmington, The Windsor Suites in Philadelphia and more.