Verge Management has selected TPG Hotels & Resorts to manage a portfolio of five Marriott-branded select service hotels located in Oklahoma, Louisiana and Arkansas. The agreement marks a significant expansion for TPG in the south-central United States and adds to its growing roster of select-service properties.
"We're excited to welcome Verge Management as a new ownership partner and to bring this collection of high-performing Marriott hotels into our operating portfolio," Tim Muir, chief development officer at TPG Hotels & Resorts, said in a statement. "This collaboration reflects our shared commitment to operational excellence and long-term asset performance."
TPG Hotels & Resorts will oversee all aspects of hotel operations.
"Partnering with TPG Hotels & Resorts ensures our properties are managed by a team with deep expertise and a strong reputation in the industry," said Malik Kheraj, president, Verge Management. "We're confident this strategic relationship will strengthen our hospitality investments and create long-term value."