Peachtree expands third-party hotel management portfolio

PEACHTREE GROUP RECENTLY signed a long-term agreement with Southfield, Michigan-based Group 10 Management, adding 14 hotels and 1,648 rooms to its managed portfolio. This expansion brings Peachtree's total managed properties to more than 100, primarily Marriott, Hilton, and IHG-branded hotels in the metro Detroit area, Peachtree said in a statement.

Peachtree is led by CEO and managing principal Greg Friedman, CFO and managing principal Jatin Desai, and principal Mitul Patel.

“Our extensive experience in hotel operations allows us to partner with Group 10 to elevate third-party management,” said Vickie Callahan, president of Peachtree’s hospitality management division. “A substantial portion of Peachtree Group’s portfolio is third-party managed, underscoring our commitment to delivering strong financial results for our partners and exceptional guest experiences.”

Peachtree’s hospitality management division operates limited-, select-, and full-service hotels, primarily in the upper-midscale and upscale segments, the statement said. The division now manages 107 hotels across 27 brands, totaling 13,485 rooms in 27 states, including Washington, D.C. With the Group 10 addition, Peachtree’s third-party management portfolio expands to 31 hotels.

In August, Peachtree promoted Callahan to president of its management division after her role as senior vice president for revenue generation. She now oversees 88 hotels across 27 brands, totaling 11,173 rooms in 23 states and Washington, D.C.

“Peachtree’s expanded portfolio further emphasizes its commitment to high-quality service and operational excellence for partners and guests across the U.S.,” Callahan added.

Through this partnership, Group 10 will leverage Peachtree’s expertise in brand compliance, operational efficiency, talent acquisition, digital marketing, renovations, and cost-saving measures across its portfolio, the statement said.

Peachtree's credit team recently surpassed $1 billion in loan originations year-to-date, with projections to reach $1.75 billion by year-end 2024.