TCOR HOTEL PARTNERS
TCOR KEY DIFFERENTIATORS
With frequent interaction with management companies, general manager, and director of sales at the hotel including site visits and monthly P&L review, we focus on increasing cash flows.
We achieve this with our overall approach of property positioning and P&L maximization with appropriate cost/benefit decision making. After reviewing, TCOR Asset Management will offer recommendations for G.M. and Director of Sales.
TCOR Asset Management will participate in weekly revenue management calls to review pricing and implement strategy.
We will focus on low cost distribution channels as well as stay pattern management and segmentation to maximize occupancy and rate
With our expense reduction plan, we work to ensure an optimal staffing plan, which includes aligning with efficient leading management companies that provides leverage in staffing and purchasing, etc.
We will also work to reduce costs with the vendors of the property.
We will consistently review the capital needs to ensure quality. Reviewing the ROI on all investments and offering suggestions.
TCOR Asset Management also has a proactive capital program to minimize large expenditures and will provide feedback for PIP and Construction Management roles.
WHO WE ARE
We are a team of hotel executives with over 85 years of combined hotel investment experience.
PRESIDENT & CEO
THOMAS J. CORCORAN
SPRINGHILL SUITES JACKSONVILLE
ACQUIRED DECEMBER 2019
JACKSONVILLE, FL 32216
TOWNEPLACE SUITES BY MARRIOTT
ACQUIRED JANUARY 2018
HOLIDAY INN EXPRESS & SUITES Tampa -USF-Busch Gardens
ACQUIRED SEPTEMBER 2018
EMBASSY SUITES BY HILTON BALTIMORE AT BWI AIRPORT
ACQUIRED FEBRUARY 2019
New Remington CEO looks to grow third-party platform
DALLAS, TX —
Ashford and Remington have been largely synonymous in the hotel industry for some time, so news that Ashford Inc. was officially purchasing the hotel management business of Remington Hotels in November wasn’t surprising, as it didn’t necessarily mark a sea change for either company.
But newly promoted Remington President and CEO Sloan Dean III said the deal actually will have the potentially surprising effect of making his company more independent from Ashford and, as a result, more interested in growing its portfolio of third-party management deals.
Corcoran Awarded for Lifetime Achievement at Lodging Conference
PHOENIX, AZ —
Thomas J. Corcoran Jr., president/CEO of TCOR Hotel Partners, has received the 2019 Above and Beyond Lifetime Achievement Award. The award was presented at The Lodging Conference on Sept. 24, here in Phoenix.
The Above and Beyond Lifetime Achievement Award recognizes an individual who has provided outstanding, life-long contributions to the hospitality industry. Corcoran is an experienced professional in the U.S. lodging industry, with 40 years as a senior hospitality executive. Corcoran is renowned as a founder/senior executive of FelCor Inc., a publicly-traded real estate investment trust focused exclusively on hotels.
Embassy Suites by Hilton Baltimore at BWI Airport Secures Financing
BALTIMORE, MD — Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged financing for the acquisition of Embassy Suites by Hilton Baltimore at BWI Airport, a 251-room, Hilton-branded, all-suite hotel near Baltimore/Washington International Thurgood Marshall Airport in the Baltimore-area community of Linthicum Heights, Maryland.
The HFF team worked on behalf of TCOR Hotel Partners (TCOR) to arrange a joint venture equity partnership with Dallas-based TriGate Capital, LLC. Additionally, working on behalf of the new partnership, the HFF team placed the five-year, fixed-rate loan with a local bank. Loan proceeds will be used to fund the acquisition of the hotel.
JV To Target Select Service And Extended-Stay Hotels
DALLAS, TX —With a focus on the acquisition of branded premium select service hotels, TCOR Hotel Partners and TriGate Capital LLC have formed an equity joint venture for $30 million. TCOR and TriGate signed a definitive agreement for its first acquisition expected to close in late August.
TCOR Hotel Partners Announces Equity Joint Venture With Trigate Capital
DALLAS, TX - TCOR Hotel Partners (TCOR) is pleased to announce the formation of an equity joint venture with TriGate Capital, LLC (TriGate) for $30 million. The venture will focus on the acquisition of branded premium select service hotels. In addition, TCOR will create value at the hotels by implementing property improvement plans, aggressively asset managing operating performance and engaging best in class third-party management companies.
Industry Honors Corcoran, Raises $580K for Shatterproof at ALIS
NEW YORK, NY—During the Americas Lodging Investment Summit, hospitality industry executives attended a reception to honor the first recipient of the Shatterproof Hospitality Hero Award—Thomas Corcoran, president & CEO, TCOR Hotel Partners.
Alex. Brown Realty Acquires TownePlace Suites by Marriott in Northwest Dallas
BALTIMORE--(BUSINESS WIRE)--Alex. Brown Realty, Inc. (ABR) and TCOR Hotel Partners (TCOR) have announced the acquisition of the TownePlace Suites by Marriott in Lewisville, Texas. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $4.4 million in the joint venture. Financing for the project will be provided by Inwood National Bank.
4925 GREENVILLE AVE.
DALLAS, TX 75206
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