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| Thomas Prins |
SCHAUMBURG, IL, March 18, 2019—Thomas Prins, principal
of TQP Capital Partners, a hotel real estate private equity firm focused on
value-add and opportunistic investments, today announced that he has joined
Schaumburg, Ill.-based Hostmark Hospitality Group, a leading third-party hotel
management company, as a minority partner.
In his new role,
Prins will be responsible for new business development on behalf of Hostmark
and TQP Capital Partners.
The affiliation of the two
businesses will begin immediately. The financial terms of the transaction
were not disclosed.
“We were looking to
align TQP Capital Partners with a proven operator that shares many of our core
values to work together to successfully execute the business plans for the hotel
assets TQP Capital acquires,” Prins stated.
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| Jerome T. Cataldo |
“We look forward to supplementing Hostmark’s history,
capabilities, bench strength and expertise in managing independent and
soft-branded hotels. We expect to accelerate Hostmark’s growth by using
our capital and LP relationships to develop and acquire hotels and resorts.”
“As we embark on our next
growth phase, Thomas and his TQP Capital platform will help us exceed owner
expectations, augment our robust pipeline and lead us to new opportunities,”
said Jerome Cataldo, president and CEO, Hostmark Hospitality Group.
“The relationship builds upon recent additions to
Hostmark's management portfolio which includes the award-winning Perry Hotel in
Key West, the award-winning Merrill Hotel and Conference Center in Iowa and the
under-construction Higgins Hotel, a Curio Collection by Hilton property in New
Orleans.”
Contact:
Chris Daly, Media
(703) 435-6293
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