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SOURCE The Procaccianti Group (TPG)
New Chief Development Officer to Lead Expanding National Management Portfolio
PROVIDENCE, R.I., Oct. 2, 2013 /PRNewswire/ -- The Procaccianti Group (TPG), today announced that industry veteran and proven hospitality development executive, Paul Sacco has joined the Company as Chief Development Officer to grow its hospitality management affiliate; TPG Hospitality.
"TPG's industry-leading performance and stellar reputation have been well known and recognized throughout the hotel industry for decades. When the opportunity to join TPG came about, it was a very easy decision," states Paul Sacco, newly appointed Chief Development Officer for TPG Hospitality. Paul continues, "In previous capacities over the years I had engaged with TPG on multiple occasions and always held the organization and its leadership in the highest regard. I look forward to building upon the foundation that TPG's ownership has established as the company pursues hospitality management contracts, new hotel development and acquisition opportunities."
The Procaccianti Group, and its management affiliate TPG Hospitality, have recently completed multiple large transactions including the acquisition of the Westin Chicago North Shore and have been awarded several management contracts which include the Hilton Kansas City Airport, the Hilton San Antonio and the DoubleTree North Shore in Danvers, MA. Additionally, the company has commenced development of several new hotels including the Hyatt House at Georgia Aquarium and the Hampton Inn & Suites in San Jose.
"I've worked with Paul for many years and I'm exceptionally pleased to have him a part of our leadership team," states James Procaccianti, TPG's President and Chief Executive Officer. Mr. Procaccianti continues, "Paul brings a wealth of experience, extensive knowledge and a complete alignment of interests and we believe he'll have a profound impact in helping to achieve the company's aggressive growth plans."
Mr. Sacco joins TPG after successful, tenured careers with Starwood Hotels & Resorts and most recently Pyramid Hotel Group. Paul will concentrate on expanding TPG Hospitality's presence throughout North America by leading initiatives in securing management contracts and other hotel development opportunities. Based at the TPG Corporate Headquarters in Rhode Island, he intends to maintain a high profile through his participation in industry conferences, professional panels and speaking engagements. Paul can be reached by email at firstname.lastname@example.org or by phone at 401-946-4600.
About The Procaccianti Group (TPG)
The Procaccianti Group (TPG), founded in 1964, is a privately-held real estate investment and management company boasting a broad national platform with a tenured focus on full-service, branded hospitality assets. Its wholly owned affiliate, TPG Hospitality ranks among the top U.S. hotel management companies with management of over 60 hotels representing over 17,000 guestrooms and generating more than $700 million in gross annual revenue. Through TPG Hospitality, Inc., the organization delivers comprehensive hospitality and/or asset management services to a variety of public and private ownership entities including municipalities and pension funds.
TPG's reputation for high performance and uncompromised integrity has earned the trust of numerous institutional grade partners, including direct investments from the California Public Employee's Retirement System (CalPERS), Chesapeake Lodging Trust, InvestCorp, Logian, Och Ziff and Rockpoint Group. These partners have completed multiple investments and management agreements with TPG over time.
Success in hospitality is a combination of excellent product, extraordinary guest service and keen financial management. TPG Hospitality's strength lies in its full integration of services. A fully accredited operator of Hilton, Hyatt, InterContinental, Marriott and Starwood, TPG has earned its position as a trusted partner by routinely exceeding the stringent demands of major corporate brands and is recognized as a leader in performance, service and quality.
TPG's proprietary value optimization process creates unprecedented value by identifying underlying factors causing 'drag' on performance, then dramatically reverses operational inefficiencies via techniques refined through decades of hospitality management experience. Having sustained growth and operated through several market cycles, the company is able to position properties to prosper in up cycles while mitigating risk during down cycles through highly skilled hands-on asset management, resulting in above market performance which translates into returns for its investment partners.
TPG's senior executive management team has remained unchanged for over 25 years under the leadership of James and Elizabeth Procaccianti (siblings) who have built a professional infrastructure capable of effectively managing its expanding national hospitality management and real estate portfolio.
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