TPG Hospitality, Inc. to Manage Eight Lodgian Hotels

TPG Hospitality's exceptional hospitality management track record and extensive construction management resources referenced by Lodgian as deciding factors in awarding contracts.

Oct 26, 2010, 11:32 ET from TPG Hospitality, Inc.

PROVIDENCE, R.I., Oct. 26 /PRNewswire/ -- TPG Hospitality, Inc. (a Procaccianti Group company), the integral hotel management company within vertically integrated TPG Companies with over 17,000 rooms under management in 23 states, has quietly and steadily climbed to the top of the list of the industry's leading hotel management companies.

Today, Gary Gray, Senior Vice President, confirms, "Lodgian has awarded TPG Hospitality, Inc. the management of approximately 2,000 premium branded hotel rooms representing eight full service hotels." At the time of this release, Gray indicated that TPG Hospitality, Inc. had transitioned management of two properties including the 270-room beachside Crowne Plaza in Melbourne, FL and the 231-room Crowne Plaza in Silver Spring, MD.

Dana Ciraldo, President and CEO of Lodgian stated, "During our extensive due diligence on management companies we were consistently impressed with the depth of talent and wealth of resources TPG Hospitality offered us and our hotels."

TPG Hospitality Inc., an approved, award winning operator with today's premium hotel brands, will transition the six remaining hotels branded with Doubletree, Hilton, Sheraton, Holiday Inn, Crowne Plaza and Radisson within the next 30 days. In addition, TPG Hospitality, Inc. will also provide owner and brand approved multi-million dollar design/construction renovation services for several of the Lodgian properties.

Jim Procaccianti, President and CEO of the second generation hotel ownership and management company states, "Our recent decision to make available to sophisticated owners and institutions our independent management services came only after we felt we had created a rock-solid platform of hospitality services and expertise that would allow us to truly distinguish TPG Hospitality from our competitors. The Lodgian engagement and the recent selection by Chesapeake Lodging Trust to entrust TPG Hospitality with their investment in the 430-room Marriott Newton, MA, is continuing affirmation that TPG Hospitality represents a wise selection when professional execution is a requirement."

About The Procaccianti Group (TPG)

The Procaccianti Group (TPG) is a second generation, privately held real estate investment company that specializes in acquisition, renovation and management of investment real estate. TPG has owned or developed more than 20 million square feet of real estate, with value approaching $3 billion.

The Procaccianti Group currently owns/operates or manages 64 hotels with approximately 17,000 guest rooms in 23 states and employs nearly 8,000 from coast to coast with 120 professionals based at the corporate headquarters in Rhode Island. TPG is comprised of various companies engaged in hospitality management, development, design and construction, purchasing, property management, asset management and finance.

The Procaccianti Group is one of the top 5 privately held owner/operators of hospitality assets in the United States.

Corporate office locations in Providence, Atlanta and Los Angeles.

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SOURCE TPG Hospitality, Inc.