TGC Group acquires TownePlace Suites in Georgia


TGC Group acquired the 95-key TownePlace Suites by Marriott Macon (Ga.) Mercer University from PHD Hotels for an undisclosed amount. The property marks the Wichita, Kan.-based company’s third TownePlace Suites by Marriott hotel.

The hotel brings TGC’s portfolio to 11 hotels. “The acquisition of this hotel is consistent with our focus on growing our presence throughout the Southeast United States,” Nick Esterline, president and founder of TGC Group, said in a statement. “The TownePlace Suites Macon represents our second hotel in Georgia, with a few more currently under development. The TownePlace Suites Macon Mercer University has proven to be a market leader and is accretive to our overall portfolio’s cash flow.”

The hotel features a meeting room, an on-site laundry, a fitness center and an outdoor pool. It is located near Mercer University and less than 10 minutes from downtown Macon. TGC Hospitality Management will operate the hotel.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *