Douglas Development has selected hospitality management firm TPG Hotels & Resorts to manage three upscale independent boutique properties in Buffalo, New York: 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," Ben Perelmuter, president of TPG Hotels & Resorts, said in a statement. "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 third-party management opportunities of branded and non-branded assets throughout the United States."
The 88-room Richardson Hotel is an adaptive reuse that transitioned from an 1870s New York State psychiatric hospital to a historic upscale boutique hotel. The property sits on 40 acres adjacent to Buffalo State University and close to the Buffalo Zoo, Shea's Performing Arts Center and the Niagara Convention Center. It has a 24-hour fitness center, business center, and more than 7,000 square feet of meeting space.
The 28-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. The Roycroft Inn began operations in 1905. The campus received National Landmark Historic status in 1986 and underwent an $8 million renovation in 1995. It reopened in 1995 and has a restaurant, gardens available for events and 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's city gardens offer an urban escape close to great restaurants, shopping and theater.
"TPG Hotels & Resorts has proven themselves as a trusted management partner over the past several years," said Douglas Jemal, founder of Douglas Development. "We are confident TPG will continue to deliver top-tier performance with these exceptional, market-leading properties in Buffalo."