SCHAUMBURG, IL—Thomas Prins, principal of TQP Capital Partners, has joined Hostmark Hospitality Group 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. “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/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.”