While his considerable executive experience may have facilitated Patrick Short’s return to TPG Hotels & Resorts as president & COO in October, it’s the fact that he’s a ‘hotelier at heart’ that the new chieftain believes will ultimately propel the management firm to new heights.
Short—who was VP, operations for TPG from 2015 to 2018—rejoined the company from CSM Corporation, where he was the EVP of residential and lodging. His more than 30 years of industry experience also includes serving as president of hospitality management at Peachtree Group, as well as stints with Wischermann Partners and Kinseth Hospitality Companies.
Now some two months into his current role, Short maintains the company is “ready for growth” as he outlined several key priorities during an exclusive interview with Hotel Management.
“I rejoined this company because of the absolute excitement I have about where we’re going, and third-party [growth] is such an important part of that. What absolutely drives me every single day is at my core I'm a hotelier and at TPG we're in the hotel business and we understand it. We can block out all the other noise and just focus on being a hotel company and a hotel operator. Every time we partner with a new owner, I like seeing their excitement as we actually make their pro forma come to fruition. That’s what we strive for,” he said, further describing the company’s team members as “grinders.”
TPG—a subsidiary of real estate investment firm Procaccianti Companies—now manages roughly 125 hotels as part of a portfolio that continues to expand. In June, the company was selected by Verge Management to take over a five-property portfolio of Marriott-branded select-service hotels in Oklahoma, Louisiana and Arkansas—a notable expansion in the south-central region of the U.S.
In addition, TPG in late 2022 acquired Marshall Hotels & Resorts and subsequently entered a strategic partnership with PeachState Hospitality in early 2023 to assume management of 10 Georgia hotels. In 2024, the company launched the Intera Collection, a soft-brand division for upscale independent and boutique hotels.
Short, meanwhile, acknowledged that the company’s emphasis on the third-party business represents one of the biggest shifts since his previous tenure, during which its management portfolio was less than half of its current size.
“The future is based on third-party management. There wasn't as much third-party in my first go-around and we're truly a third-party operator. I don't know that the industry knows that as well as we do internally. We truly are growing and growing with some great owners, which makes for a bright future,” he said, adding the company now has “more third-party hotels than owned hotels.”
Another change was the operator shifting its national headquarters to the more centrally located Dallas area, which the company refers to as something of a “hospitality hub.”
A major point of emphasis for Short has been the trust that TPG has garnered with the major franchise companies. “We have a history with Marriott,” noted Short. To that point, TPG last spring opened the Canal House of Georgetown, a Tribute Portfolio hotel. Marriott International recognized the adaptive-reuse property as its one-millionth U.S. room and later awarded the hotel as its “best full-service opening of 2025.”
Sixty Days
Short shared some of his initial feedback on the first 60 days since returning to the company. “My impression so far is the effort and determination on this team is unmatched and there is such a focused mindset. I have really great people in our organization to build on,” he said.
Short went on to detail transparency and cost control, particularly in a tight market with limited revenue growth, as critical elements to the company’s operating acumen and gaining the support of ownership.
“Because of how we’ve performed in the past they know we’re performing well and that we’re responsible with our expense management. On the top-line side what we talk about is how we’re going to be better than our competition. We ask, ‘what can make us quicker to decisions and faster to results?’” he said.
Short describes himself as a “culture-first” leader, with a philosophy rooted in servant leadership, an asset-by-asset approach and a service-profit mindset. Culture, he stressed, is a competitive differentiator.
“You need to have the right culture so that people truly stay on board with you, drive business with you and don't get taken by another company because it happens a lot,” he said.
He elaborated on the competitive landscape of third-party management emphasizing the importance of economies of scale, noting TPG and its sizable portfolio are positioned well going forward.
“We're right in the sweet spot. The large companies struggle with being able to pay attention to detail, the smaller companies struggle with not having all the resources when it comes to true third-party management. You need to be in a space that you have the right resources and the right procedures to do it. What makes us stand out amongst our peers is not only are we in the right spot, but we have a true owners’ mindset. There are companies out there that don't have skin in the game,” he said.