First Hospitality Sells 11-hotel Portfolio
April 13, 2012 - The Plasencia Group (TPG) is pleased to announce the sale of an 11-hotel portfolio totaling 1,234 rooms on behalf of Rosemont, Illinois-based First Hospitality Group. A privately-held investment firm with a core focus on global real estate acquired the premium, select-service hotels for an undisclosed price. An affiliate of First Hospitality retained an interest in the portfolio and will operate the properties on behalf of the venture.
“All of us at TPG are proud to have completed yet another portfolio transaction, bringing together a major private equity investor and one of the most efficient hotel managers in the business,” explained Rich Conti, TPG's President. “We have enjoyed introducing the two parties to each other in what we believe will be a very fruitful relationship. The new ownership group is acquiring a group of strong-performing hotels with excellent brand affiliations.”
The hotels consist of six Marriott- and five Hilton-branded properties, and are located in major Midwest suburban metropolitan markets across five states. The select-service properties operate under the Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Fairfield Inn, Residence Inn, SpringHill Suites, and TownePlace Suites flags.
The disposition was coordinated for TPG by Conti, Russ Valentine, Senior Vice President - Midwest region, and Stephen Kindl, Senior Vice President - Northeastern region.
Since 2000, The Plasencia Group has sold 28 different multi-hotel portfolios on behalf of some of the most respected names in the hospitality industry. These portfolios total more than 34,000 rooms across 25 states, and include resorts, urban center hotels, all-suite properties, independents, and both full- and select-service brands.
The Plasencia Group is a multi-faceted, full-service hotel investment and consulting firm with three corporate divisions: Transaction Services, Capital Markets, and Consulting & Advisory Services serving clients through its U.S. regional offices. For more information, go to www.TPGhotels.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
