TPG Hotels & Resorts Selected to Manage The Blennerhassett Hotel
August 1, 2023
TPG Hotels & Resorts announced Tuesday it has been selected to manage The Blennerhassett Hotel, located in Parkersburg, West Virginia. The 140-year-old, 84-room historic property features an upscale signature restaurant, lounge, spa, and over 8,000 square feet of meeting space in eight distinct spaces that can be tailored for high-end corporate and lifestyle events, according to a press release. The property was purchased in 2019 by R&W Hotels, which is owned and operated by local Parkersburg businessmen Wayne Waldeck and Lee Eric Rector.
“The Blennerhassett Hotel is an exceptional historic asset with built-in demand drivers in a city filled with history,” said Ben Perelmuter, President of TPG Hotels & Resorts. “We see tremendous revenue growth opportunities for this asset as we deploy our sophisticated management systems and marketing strategies to the hotel’s already rich history. The addition of this property to our third-party managed assets is part of our strategy to seek additional growth opportunities throughout the United States.”
“For a property with this much history, it is extremely important to us to partner with a company that shares our culture, values, and philosophy and understands how to profitably run a truly unique asset,” said Lee Rector, Co-owner of R&W Hotels. “As local Parkersburg business operators, we feel TPG understands the value this hotel brings to the local community and we believe this partnership will enhance the value of our asset and help market Parkersburg to a larger audience as a destination.”
The Blennerhassett Hotel was built and constructed by Colonel William Nelson Chancellor. Construction began in 1893, and after six years, the property officially opened on May 6, 1889. The property has undergone three significant renovations since opening its doors, first in 1944-45 when a new terrazzo floor was added to the lobby area and a marble facade was added to the exterior front. The second major renovation began in 1985 when a new addition including a Grand Ballroom and Promenade were added to the first floor as well as several additional guest rooms. The last renovation with the current owners started in early 2020 when they added faux tin ceilings to the library, main lobby, and the promenade areas. The current-day library was given a facelift, and during the renovation, they found the original Terrazzo floor, which guests can view today.