CRANSTON, RI—Paul Sacco has been promoted to president & chief development officer of TPG Hotels & Resorts, the newly named hotel division of the Procaccianti Companies. The appointment was first reported exclusively in the April 21 issue of Hotel Business. While he continues to focus on driving the overall growth of the company, in his new role as president, Sacco will help lead the overall strategic direction of TPG, which currently operates 60 hotels nationally with more than $840 million of hotel revenues under management, according to TPG.
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“Paul has demonstrated a strong ability to strengthen relationships with our constituents, as well as open doors to new investment partners because of his proven track record and extensive industry relationships,” said Jim Procaccianti, president and CEO of the Procaccianti Companies. “Paul has helped us accelerate from a well-known hotel real estate investment company into a true force within the hospitality management industry. TPG has evolved into a sought-after hotel management powerhouse, both for our existing and new capital partners. We have every confidence that Paul will continue to lead TPG Hotels & Resorts’ growth into the future.”
Prior to joining TPG in 2013, Sacco held a number positions at Starwood Hotels & Resorts Worldwide, culminating in SVP of development for all brands-North America. During Sacco’s tenure, Starwood’s North American portfolio expanded by 143% from 228 to 554 hotels, according to TPG. Sacco also was instrumental in launching the Aloft Hotels and Element by Westin brands. Sacco has worked in various leadership positions in global sales, operations and development at companies such as Swissôtel, Pyramids Hotels, US Franchise Systems and Omni Hotels.
“TPG acquired its first branded hotel in Rhode Island over three decades ago, and has since expanded to become one of the largest nationwide owner/operators of hotels and provides management services on behalf of some of the industry’s largest capital investors,” Sacco noted. “Our 2015 hotel revenues under management exceeded $840 million. Throughout our growth, our core principle has been always to operate first on behalf of our capital partners. We will continue to utilize the owner’s mentality lens as we pursue aggressive growth goals.”