TPG Hotels Accelerates 3rd-Party Management Platform, Selected To Manage The Kimpton Hotel Monaco Baltimore
PROVIDENCE, RI–TPG Hotels, Resorts & Marinas, one of the nation’s premier third-party hospitality management firms, announced today it was selected to manage the Kimpton Hotel Monaco Baltimore, located at the intersection of St. Charles Street and West Baltimore Street in the Inner Harbor section of Baltimore, Maryland. The 202-room, full-service property boasts over 10,000 square feet of meeting space and the B&O American Brasserie Restaurant.
“Downtown Baltimore has recently experienced substantive changes in the lodging inventory in the wake of the pandemic,” states Mike Marshall, President and Chief Operating Officer for TPG Hotels, Resorts & Marinas. “We see significant opportunity to deploy our institutional-quality management platform to enhance the current infrastructure, programming, and operations at the property to unlock significant value for the property’s owners. Furthermore, the addition of this property to our managed asset portfolio fits perfectly with our strategy to continue expanding our management platform across all geographies with premier full-service brands throughout the United States.”
The Kimpton Hotel Monaco Baltimore is prominently located at the southwest corner of St Charles Street and W Baltimore Street, convenient to corporate, education, and leisure demand drivers in the renowned Inner Harbor section of downtown Baltimore. Opened in 2009 at a cost of approximately $60M, the Hotel is an irreplaceable, adaptive reuse of the iconic B&O Railroad headquarters constructed between 1906 and 1908, featuring Beau Arts interior and exterior design. The Hotel is ideally proportioned with 202 oversized guestrooms (including 27 suites) ranging from 375 square feet to 900 square feet and averaging 417 square feet.