ATLANTA--(BUSINESS WIRE)--Nov 6, 2024--
Peachtree Group (“Peachtree”) has announced a long-term partnership with Southfield, Michigan-based Group 10 Management (“Group 10”), expanding its managed portfolio with 14 new hotels totaling 1,648 rooms. This milestone growth pushes Peachtree's total managed operations beyond 100 hotels and solidifies its position as a leading third-party hotel manager. The properties are primarily Marriott, Hilton and IHG-branded hotels and are predominantly located in the metro Detroit area.
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“Our extensive experience in hotel operations allows us to partner with Group 10 to take third-party management to a whole new level,” said Vickie Callahan, president of Peachtree’s hospitality management division. “A substantial portion of Peachtree Group’s portfolio is third-party managed, underscoring our commitment to driving strong financial results for our partners while providing exceptional guest experiences.”
Peachtree’s hospitality management division operates premium-branded, limited-, select- and compact full-service hotels primarily within the upper-midscale and upscale segments. The division now manages 107 hotels across 27 brands totaling 13,485 rooms in 27 states, including Washington D.C. With the addition of the Group 10 properties, Peachtree’s third-party management portfolio expands to 31 hotels.
Through this partnership, Group 10 will benefit from Peachtree’s extensive expertise in compliance with brand standards, scalable operating efficiencies, skilled talent acquisition, digital and marketing initiatives, renovation expertise and other cost-saving measures across the portfolio.
“Peachtree’s expanded portfolio further emphasizes its dedication to delivering high-quality service and operational excellence for partners and guests across the U.S.,” Callahan added.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
Peachtree Group (“Peachtree”) has announced a long-term partnership with Southfield, Michigan-based Group 10 Management (“Group 10”), expanding its managed portfolio with 14 new hotels totaling 1,648 rooms, including the Courtyard by Marriott Detroit Farmington (pictured). (Photo: Business Wire)
WASHINGTON (AP) — President Donald Trump is meeting with oil executives at the White House on Friday in hopes of securing $100 billion in investments to revive Venezuela’s ability to fully tap into its expansive reserves of petroleum — a plan that rides on their comfort in making commitments in a country plagued by instability, inflation and uncertainty.
Since the U.S. military raid to capture former Venezuelan leader Nicolás Maduro on Saturday, Trump has quickly pivoted to portraying the move as a newfound economic opportunity for the U.S., seizing tankers carrying Venezuelan oil, saying the U.S. is taking over the sales of 30 million to 50 million barrels of previously sanctioned Venezuelan oil and will be controlling sales worldwide indefinitely.
On Friday, U.S. forces seized their fifth tanker over the past month that has been linked to Venezuelan oil. The action reflected the determination of the U.S. to fully control the exporting, refining and production of Venezuelan petroleum, a sign of the Trump administration's plans for ongoing involvement in the sector as it seeks commitments from private companies.
It's all part of a broader push by Trump to keep gasoline prices low. At a time when many Americans are concerned about affordability, the incursion in Venezuela melds Trump’s assertive use of presidential powers with an optical spectacle meant to convince Americans that he can bring down energy prices.
The meeting, set for 2:30 p.m. EST, will be open to the news media, according to an update to the president's daily schedule. “At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House,” Trump said Friday in a pre-dawn social media post.
Trump is set to meet with executives from 17 oil companies, according to the White House. Among the companies attending are Chevron, which still operates in Venezuela, and ExxonMobil and ConocoPhillips, which both had oil projects in the country that were lost as part of a 2007 nationalization of private businesses under Maduro’s predecessor, Hugo Chávez.
The president is meeting with a wide swath of domestic and international companies with interests ranging from construction to the commodity markets. Other companies slated to be at the meeting include Halliburton, Valero, Marathon, Shell, Singapore-based Trafigura, Italy-based Eni and Spain-based Repsol.
Large U.S. oil companies have so far largely refrained from affirming investments in Venezuela as contracts and guarantees need to be in place. Trump has suggested on social media that America would help to backstop any investments.
Venezuela’s oil production has slumped below one million barrels a day. Part of Trump's challenge to turn that around will be to convince oil companies that his administration has a stable relationship with Venezuela’s interim President Delcy Rodríguez, as well as protections for companies entering the market.
Secretary of State Marco Rubio, Energy Secretary Chris Wright and Interior Secretary Doug Burgum are slated to attend the oil executives meeting, according to the White House.
Meanwhile, the United States and Venezuelan governments said Friday they were exploring the possibility of r estoring diplomatic relations between the two countries, and that a delegation from the Trump administration arrived to the South American nation on Friday.
The small team of U.S. diplomats and diplomatic security officials traveled to Venezuela to make a preliminary assessment about the potential re-opening of the U.S. Embassy in Caracas, the State Department said in a statement.
Trump also announced on Friday he’d meet with President Gustavo Petro in early February, but called on the Colombian leader to make quick progress on stemming flow of cocaine into the U.S.
Trump, following the ouster of Maduro, had made vague threats to take similar action against Petro. Trump abruptly changed his tone Wednesday about his Colombian counterpart after a friendly phone call in which he invited Petro to visit the White House.
President Donald Trump waves as he walks off stage after speaking to House Republican lawmakers during their annual policy retreat, Tuesday, Jan. 6, 2026, in Washington. (AP Photo/Evan Vucci)
