Peachtree Hospitality Management has entered into agreements with Tekmak Development Co., a full-service hospitality development company, to provide third-party management services for a portion of its hotel portfolio. PHM will assume operations of the SpringHill Suites Dallas Rockwall on Aug. 1 and is slated to manage two under-construction hotels—a dual-branded TownePlace Suites by Marriott and Fairfield by Marriott in Paris, Texas, and a TownePlace Suites by Marriott in Forney, Texas.
"This is the second long-term management agreement we’ve entered into already in 2023, and we will continue to seek best-in-class partners like Tekmak as we pursue our own third-party management growth goals," PHM's President Patrick Short said in a statement. "Our third-party operated portfolio continues to expand, currently accounting for nearly a third of our entire managed portfolio, and we expect to continue growing our third-party portfolio moving forward, ultimately surpassing our owned hotels."
A division of Peachtree Group, PHM operates premium-branded, limited-, select- and compact full-service hotels primarily in the upper-midscale and upscale segments. Today, the company manages 92 hotels across 28 brands with 11,186 rooms in 22 states. These three Tekmak hotels increase PHM's third-party operations to 34 hotels.