Officials of hotel investment and management platform Peachtree Hotel Group and hotel owner, developer and operator Zenique Hotels have formed a strategic partnership.
Under the terms of the agreement, Peachtree Hospitality Management, PHG’s operational division, will manage Zenique’s current portfolio of four hotels. The strategic partnership also makes PHM the operator of all Zenique’s future hotels as it continues to grow nationwide.
“We continue to seek best-in-class partners such as Zenique as we embark upon our own aggressive growth plans,” said Patrick Short, president of PHM. “PHM is dedicated to growing its third-party management business, and portfolio agreements with owner/developers certainly are attractive to us. Fortunately for this partnership specifically, we enjoy the extra bonus of similar cultures focused on our team members, guests and the communities in which we operate, making the deal that much more seamless. We truly see this as a win-win for everyone involved.”
Zenique’s current portfolio comprises four hotels located throughout California:
- The 145-room La Quinta Inn & Suites by Wyndham San Jose Airport
- The 127-room Aloft Dublin-Pleasanton
- The 95-room Holiday Inn Express & Suites Modesto-Salida
- The 67-room Baymont by Wyndham Modesto Salida
“This strategic partnership allows us to grow beyond our historic stomping grounds of California,” said Rupesh Patel, Zenique's president and COO. “Peachtree is well respected throughout the industry and has nationwide experience operating numerous brands in multiple segments and markets. Furthermore, their existing relationships with major brands like Hilton, Hyatt, Marriot and IHG will prove invaluable as we continue our aggressive growth strategy. Our ‘ideal’ hotel is three-star or higher, limited- and full-service to extended-stay and with 100-plus rooms, all of which are in Peachtree’s operational wheelhouse.”