Executives at TPG Hotels & Resorts, the hospitality management arm of the Procaccianti Companies, said the newly launched Intera Collection will highlight its expertise in independent, boutique and soft-branded hotels.
During an interview with Hotel News Now at the 2024 Americas Lodging Investment Summit, TPG Hotels & Resorts President and Chief Operations Officer Ben Perelmuter said those segments already make up roughly a third of the company's portfolio of 130 third-party managed hotels.
"A lot of them a pretty sizable properties with marinas and are highly seasonal," he said. "We have dedicated resources, technology and people dedicated to that space."
He said part of that expertise is understanding what drives loyalty, guest satisfaction and performance at those types of properties. That could be as simple as understanding how the fueling process works best in a marina setting.
"We've learned over of the years that you have to know the owner of that [yacht] and stay in contact with them throughout the year so you know exactly when they're going to be ready to fuel up," Perelmuter said, adding that single interaction could represent thousands of dollars in revenue.
Currently, TPG Hotels & Resorts has properties in the Northeast U.S., Florida and California's wine country, but executives said they're increasingly looking to do deals in high-growth markets across the country.
"We're focused heavily in destination markets," said Tim Muir, chief development officer. "Beaches, ski resorts, mountains, lakes — destination markets that are very heavily seasonal with very strong weekend business that are family destinations."
Muir said TPG has also sought to grow more in urban markets, including adding an independent hotel in Philadelphia, and hopes to grow its presence in the Sunbelt.
The independent hotel space has been a growth focus for TPG for the past couple of years, partly because the company understands how independent hoteliers and travelers want to "think outside the box," Muir said.
"They want to be unique and free-spirited," he said, adding the company's expertise in food-and-beverage operations also is a big benefit in this segment.
Perelmuter said TPG does get the best of both worlds since so much of its portfolio is still branded, but it also has expertise in customer acquisition for independent hotels, which is significantly different without the central reservations systems and loyalty platforms of the big brands.
TPG has its own call center, which is unique among independent operators and helps build customer relationships in a more direct manner, Perelmuter said.
The Intera Collection, while new, represents a portfolio of hotels that the company already managed, and but more clearly demonstrating its independent expertise will turn it into a space of outsize growth, executives said.
"There are a lot of things that are running independents, and you have to create that vehicle," Perelmuter said.