TPG Hotels & Resorts will manage two properties in Augusta, Ga. The Residence Inn by Marriott Augusta and the SpringHill Suites by Marriott Augusta are both owned by PeachState Hospitality.
"Our ongoing partnership with TPG continues to allow us to remain an active investor in the hospitality space through our development platform," PeachState COO Ricky Raman said in a statement. "We are extremely impressed with TPG's operating expertise and capability to enhance both the top and bottom line, thereby increasing the value of our assets. We look forward to exploring additional opportunities to expand this partnership."
The 124-room Residence Inn Augusta has studio, one- and two-bedroom suites with separate living and sleeping areas, fully equipped kitchens, complimentary Wi-Fi, free hot breakfast, and a fitness center.
The 88-room SpringHill Suites Augusta has guests suites with a mini-fridge, microwave, Keurig coffee maker, sofa, and work area with ergonomic chair, as well as flexible lobby spaces with free Wi-Fi, complimentary breakfast buffet, 24-hour market, fitness center, indoor pool, and outdoor fire pit.
"We are extremely pleased to be adding more properties from PeachState Hospitality to our portfolio," said Ben Perelmuter, president of TPG Hotels & Resorts. "We have proven that our operations, cultures and core values as a company align with PeachState's and look forward to continue growing alongside them."