Parks Hospitality Group

What Parks Hospitality Group does

Parks Hospitality Group is a privately held, family-owned hotel development and management company headquartered in Raleigh, North Carolina. The company was founded by Ramesh Patel and has been led since 2008 by his son Shaunak Patel as President. Parks develops hotels from the ground up and operates them through a self-managed model with equity ownership in its projects, generating revenue from management fees on third-party assets and full operating income from owned properties. The portfolio spans 20+ properties and 2,000+ rooms across North Carolina, South Carolina, Tennessee, and Georgia under multi-brand partnerships with Hilton (Hampton Inn, Tru, Homewood Suites, DoubleTree, Embassy Suites, Hilton Garden Inn) and Marriott (Aloft, Courtyard, Residence Inn, SpringHill Suites, Tribute Portfolio). The company also operates two destination F&B concepts — Soprana Rooftop Cucina (a 2025 Michelin Guide Recommended restaurant at Embassy Suites Asheville Downtown) and The Montford Rooftop Bar (at DoubleTree Asheville Downtown).

The company serves business and leisure travelers through focused-service, extended-stay, and full-service hotel segments, with dedicated sales infrastructure for group, wedding, and corporate event bookings at full-service properties like Embassy Suites Asheville (7,000+ sq ft of meeting space). Its customer base is segmented by use case: business travelers, leisure travelers visiting destinations such as Asheville, Wilmington, Greenville, and Nashville, extended-stay guests at Homewood Suites, Residence Inn, and LivSmart Studios, and meeting/event planners.

Go-to-market operates through Hilton's and Marriott's global distribution systems (brand.com, mobile apps, GDS, OTAs) supplemented by property-level direct sales and a corporate website (parkshotels.com). Underlying technology includes a proprietary Business Intelligence Platform, advanced revenue management analytics that align Sales, Marketing, and Revenue Management as a single Commercial Team, cloud-based services across departments, and a Data Automation Analyst role supporting dashboards and workflow automation. Parks has recently expanded into adjacent real estate through a joint venture with Greystar to develop Montessa Heights, a 451-unit apartment community in Murrieta, California.

Name

Parks Hospitality Group

Legal name

Parks Hospitality Group

Website

https://parkshotels.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

251–500 employees

Short description

Parks Hospitality Group is a privately held, family-owned hotel development and management company headquartered in Raleigh, NC, operating 20+ Hilton- and Marriott-branded hotels across the Southeast US for business and leisure travelers.

Ownership category

akta.pro rank

Product category

Hotel Management and Development

NAICS

Hotels (except Casino Hotels) and Motels (72111), Traveler Accommodation (7211)

SIC

Hotels & Motels (7011), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Suburban Full-Service Hotels (THAGAAAC)

akta.pro secondary industries

Business & Corporate Full-Service Hotels (THAGAAAE), Conference Retreat Hotels (THAGALAG), Hospitality (Hotel) Property Management (BPAJAGAG)

Keywords

• Hotel management services
• Hotel development services
• Hospitality asset management
• Franchise hotel operations
• Hotel revenue management

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Hotel Management Fees: The company generates revenue through managing hotels for ownership groups and investors, providing full-service hotel management including operations, sales, marketing, revenue management, accounting, and human resources.
2. Hotel Ownership: As an involved owner, Parks Hospitality Group has equity stakes in their hotel developments. They are personally invested in all projects and self-manage all properties, ensuring financial stability and responsible asset management profitability.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Parks Hospitality Group is a boutique hotel development and management company that partners with Hilton and Marriott to develop, own, and operate branded hotels across the Southeastern United States. The company provides full-service hotel management including operations, sales and marketing, revenue management, accounting, HR, and IT, and pursues ground-up hotel development projects in identified secondary and growth markets with personal equity investment in each project.

Product overview

Parks Hospitality Group is an award-winning hotel development and management company operating a diverse portfolio of branded hotels across North Carolina, South Carolina, Tennessee, and Georgia. The company partners with Hilton and Marriott to develop and manage upscale accommodations including select-service, extended-stay, and full-service hotels under brands such as Hampton Inn, Tru by Hilton, Homewood Suites, DoubleTree, Embassy Suites, Hilton Garden Inn, Aloft, Courtyard by Marriott, Residence Inn, and SpringHill Suites. The portfolio also includes unique food and beverage experiences including rooftop bars (The Montford, Soprana Rooftop Cucina) and a Michelin-recommended restaurant. The company manages over 2,000 rooms across 25+ properties, offering a mix of standard hotel rooms, suites, and extended-stay accommodations with amenities including pools, fitness centers, business facilities, and meeting/event spaces.

Differentiator

Problem solved

Functional benefit

Brands

• The Montford Rooftop Bar: Contemporary rustic speakeasy offering seasonally driven craft cocktails and a locally inspired small plate menu with panoramic views of the Blue Ridge Mountains, located at DoubleTree by Hilton Asheville Downtown.
• Soprana Rooftop Cucina

Products and services

• Hampton Inn Mebane A Hilton-brand select-service hotel in Mebane, NC offering standard hospitality services including complimentary breakfast, comfortable accommodations, and amenities for business and leisure travelers.
• Hotel Avaline (Marriott Tribute Portfolio) A Marriott Tribute Portfolio property in Waynesville, NC featuring 75 thoughtfully designed guestrooms and a full-service rooftop restaurant overlooking the Appalachian mountains, offering an inspiring, story-led stay.
• SpringHill Suites by Marriott Wilmington - Mayfaire A Marriott-brand all-suite hotel in Wilmington, NC offering suites designed for extended stays with separate living areas and kitchen facilities.
• Residence Inn by Marriott Pinehurst Medical Park A new-build extended-stay hotel in Pinehurst Medical Park, NC featuring 128 spacious suites with fully equipped kitchens, complimentary Wi-Fi, and breakfast, located next to the iconic Pinehurst Hole Number 8 for business travelers and golf enthusiasts.
• Courtyard by Marriott Asheville Downtown An upcoming 115-room Marriott select-service hotel in Downtown Asheville featuring a spacious fitness facility, business center, and Courtyard's signature Bistro and Bar within walking distance of 200+ locally owned shops, galleries, restaurants, and breweries.
• DoubleTree by Hilton Asheville Downtown A Downtown Asheville full-service Hilton hotel with mountain views offering 188 guest rooms and suites, a rooftop bar (The Montford), heated indoor pool, fitness center, Dogwood Cafe & Bar, and event space for up to 125 guests.
• Embassy Suites by Hilton Downtown Asheville The only full-service, all-suites hotel in Downtown Asheville featuring 188 guest suites and over 7,000 square feet of meeting and event space, with indoor swimming pool, fitness center, two restaurants and bars, and the rooftop Soprana restaurant.
• Hampton Inn Raleigh Cary Alston Town Center A new-build Hampton Inn by Hilton featuring approximately 165 guestrooms with swimming pool, fitness center, meeting space, and lobby bar, located within the Alston Town Center mixed-use development adjacent to Research Triangle Park.
• Hampton Inn & Suites Burlington A Hampton Inn & Suites property located off I-85/I-40 at Exit 141 in Burlington, NC, minutes from Elon University and Tanger Outlets, featuring digital check-in, mobile guest room key, complimentary breakfast, seasonal outdoor pool, and 24/7 fitness center after a 2024 full renovation.
• Tru by Hilton Burlington A value-focused Tru by Hilton hotel featuring 101 guestrooms with large screen TVs, modern fitness center with kettlebells and free weights, located off I-40 near Elon University and Shops at Alamance Crossing, opened December 2019.
• DoubleTree by Hilton Raleigh-Cary A member of the Cary Collection of Hilton Hotels in Cary Crossroads Plaza offering event space for up to 80 guests, completed a full renovation in early 2023 with walkability to over 50 shops, restaurants, and entertainment venues.
• Hilton Garden Inn Raleigh-Cary A member of the Cary Collection of Hilton Hotels in Cary Crossroads Plaza offering a restaurant and bar, indoor saltwater pool, outdoor patio with fire pit, standard guest rooms and junior suites, and event space for up to 300 guests.
• Homewood Suites by Hilton Raleigh Cary I-40 An extended-stay Homewood Suites by Hilton property in Cary Crossroads Plaza offering spacious suites with separate living areas and full kitchens, seasonal outdoor pool, barbecue grills, and free hot breakfast.
• Tru by Hilton Raleigh-Durham Airport A value-focused Tru by Hilton hotel near RDU Airport with a complimentary airport shuttle featuring 106 guestrooms, located off I-40 with easy access to Research Triangle Park, PNC Arena, and Wake Competition Center.
• Tru by Hilton Wilmington Wrightsville Beach A value-focused Tru by Hilton hotel located 3 miles from Wrightsville Beach and adjacent to the 400-acre Mayfaire Town Center featuring 101 guestrooms with free breakfast and a four-zone lobby with pool table, game area, and work spaces, opened December 2022.
• Soprana Rooftop Cucina A 2025 Michelin-Recommended rooftop restaurant atop Embassy Suites Asheville serving brick-oven pizza and seasonal fare with locally sourced ingredients paired with craft beer, wines, spritzes, and cocktails, overlooking the Blue Ridge Mountains.
• The Montford Rooftop Bar A contemporary rustic speakeasy on the rooftop of the DoubleTree by Hilton Asheville Downtown offering seasonally driven craft cocktails and a locally inspired small-plate menu with panoramic views of the Blue Ridge Mountains.
• Comfort Suites Regency Park (Raleigh-Cary) A 122 all-suite hotel in the heart of Cary's Regency Park business district featuring premium bedding and separate seating areas with sofa beds, scheduled for conversion to Home2 Suites by Hilton in 2027.
• Tru by Hilton Macon A value-focused Tru by Hilton hotel featuring 101 guestrooms with large screen TVs, located off I-75 near Ocmulgee Mounds National Historic Park, Tubman Museum, and Mercer University, opened July 2021.
• Homewood Suites by Hilton Greenville Downtown An extended-stay hotel in Downtown Greenville's West End near Falls Park on the Reedy, Flour Field, and Greenville Zoo featuring spacious suites with a full kitchen, seasonal outdoor pool, barbecue grills, and free hot breakfast, opened 2017 and awarded 2018 Hilton New Build of the Year.
• Tru by Hilton Columbia Greystone A value-focused Tru by Hilton hotel featuring 117 guestrooms with large screen TVs, located just off I-126 near Riverbanks Zoo and Gardens and downtown Columbia, opened January 2020.
• LivSmart Studios by Hilton Columbia Greystone A new-build 113-room extended-stay hotel by Hilton catering to guests staying 20+ nights in Columbia, SC, offering weekly housekeeping, a streamlined retail market, and grab-and-go breakfast, projected to open Q2 2026.
• Aloft Nashville Franklin A boutique-style Marriott Aloft hotel near Cool Springs Galleria and downtown Franklin featuring a Re:fuel 24-hour grab & go market, W XYZ Bar with craft cocktails and live music, heated indoor pool, fitness center, and the pet-friendly Arf program.
• Tru by Hilton Nashville Franklin A value-focused Tru by Hilton hotel with 135 guestrooms featuring free breakfast with the Top It breakfast bar, a 24/7 market, a four-zone lobby with game area and work spaces, a modern fitness center, and free WiFi, opened January 2021.
• Full-Service Hotel Management and Development Services End-to-end hotel development and full-service hotel management offering including operations, sales and marketing, revenue management, accounting and finance, human resources, and IT support, delivered for ownership groups and investors across Hilton- and Marriott-flagged properties.

Quantifiable outcome

• Hilton Conrad Award (top 1% of Hilton hotels for service and product quality) - Embassy Suites Asheville Downtown 2025
• +2 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and strategic.

• HiltoncoreStrategic or Co-development PartnerParks Hospitality Group is a development and operating partner with Hilton, managing a portfolio of hotels including Hampton Inn, Tru, Homewood Suites, Doubletree, Embassy Suites, and Hilton Garden Inn brands. The partnership involves ground-up hotel development and ongoing property management.
• MarriottcoreStrategic or Co-development PartnerParks Hospitality Group operates Marriott-branded properties including Aloft Nashville Franklin, Courtyard Asheville Downtown, Residence Inn Pinehurst, and Hotel Avaline (Marriott Tribute Portfolio). The partnership encompasses both development and management of Marriott hotels.
• GreystarstrategicStrategic or Co-development PartnerGreystar partnered with Parks Hospitality Holdings to develop Montessa Heights, a 451-unit apartment community in Murrieta, California. This represents Parks' expansion beyond hospitality into mixed-use residential development, combining Greystar's apartment development expertise with Parks' management capabilities.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Aimbridge Hospitality: Aimbridge Hospitality is one of the largest third-party hotel management companies in North America, managing 1,500+ properties across all major brands. Comparable as a B2B hotel management operator with a Hilton/Marriott-heavy brand portfolio, though at significantly larger scale than Parks and more geographically diversified.
• Driftwood Hospitality Management: Driftwood Hospitality Management operates a portfolio of branded and independent hotels across the US, with development and management capabilities. Comparable as a developer-operator model; broader in scope and scale but similar in reliance on Hilton/Marriott distribution.
• Highgate Hotels: Highgate is a major hotel management, investment, and development firm operating luxury, full-service, and select-service properties across the US. Comparable in operating model and brand partnerships, though Highgate is substantially larger and more diversified across luxury and urban assets.

Direct peers

• McKibbon Hospitality: McKibbon Hospitality is a family-owned hotel development and management company operating 80+ properties across the Southeast US under Hilton, Marriott, Hyatt, and IHG flags. Closely comparable in family-owned structure, developer-operator model, and Southeast regional concentration; directly competes for similar growth markets.
• Newport Hospitality Group: Newport Hospitality Group is a hotel management company operating branded properties across the Eastern US, including Hilton, Marriott, IHG, and Hyatt flags. Directly comparable in third-party management model and Southeast US concentration; Parks' VP of Operations Sean Branch previously served 17 years at Newport.
• Concord Hospitality: Concord Hospitality is a hotel development and management company operating 100+ properties across the US and Canada under Hilton, Marriott, Hyatt, and IHG flags. Directly comparable to Parks Hospitality in business model, brand mix, and B2B developer-operator positioning; both target secondary and growth markets and rely on third-party ownership capital.
• OTO Development: OTO Development is a hotel development and management firm focused on Hilton and Marriott branded properties across the US. Highly comparable to Parks in development-led model, brand portfolio mix, and use of revenue management analytics; both companies are mentioned as competitors for revenue leadership talent.
• Charlestowne Hotels: Charlestowne Hotels is a hotel management, development, and consulting firm operating branded and independent properties primarily across the Southeast and Mid-Atlantic US. Comparable in size, Southeast focus, and full-service plus lifestyle property mix including F&B-driven assets.
• Peachtree Hotel Group: Peachtree Hotel Group is a hotel investment, development, and management company operating branded select-service and full-service properties primarily in the Southeast US. Comparable in developer-operator model, Southeast US footprint, and Hilton/Marriott brand concentration.
• Vision Hospitality Group: Vision Hospitality Group is a privately held hotel development, ownership, and management company operating Hilton and Marriott properties across the Southeast and Midwest US. Closely comparable in development-led model, brand mix (Hilton and Marriott), and Southeast US footprint; a Parks task force manager previously worked at Vision Hospitality.

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/parkshotels
• LinkedInlinkedin.com/company/parkshotels

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries24 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parks Hospitality Group