Douglas Development has selected TPG Hotels, Resorts & Marinas to manage the Kimpton Hotel Monaco Baltimore in the city's Inner Harbor neighborhood.
The 202-room, full-service property has more than 10,000 square feet of meeting space and the B&O American Brasserie Restaurant.
“Downtown Baltimore has recently experienced substantive changes in the lodging inventory in the wake of the pandemic,” said Mike Marshall, president and COO for TPG Hotels, Resorts & Marinas, in a statement. “We see significant opportunity to deploy our institutional-quality management platform to enhance the current infrastructure, programming, and operations at the property to unlock significant value for the property’s owners. Furthermore, the addition of this property to our managed asset portfolio fits perfectly with our strategy to continue expanding our management platform across all geographies with premier full-service brands throughout the United States.”
The Kimpton Hotel Monaco Baltimore opened in 2009 at a cost of approximately $60 million. The hotel is an adaptive reuse of the B&O Railroad headquarters constructed between 1906 and 1908, with a Beau Arts interior and exterior design. The hotel has 202 guestrooms (including 27 suites) ranging from 375 square feet to 900 square feet.