Site selection and franchise affiliation
TPI finds sites and markets that possess good long term viability with significant barriers for competitive encroachment. With a long term holding strategy, this is an important consideration. TPI has only sold two hotels and one restaurant in its history. Once a site is selected, careful consideration is given to the appropriate franchise and type of product that will maximize performance. We have never limited ourselves to partnering with any one franchise company but rather select from the most advantageous brand available in the competitive market. Our portfolio is a testament to this philosophy with additions to the company including a recently opened Intercontinental Hotels brand (a Holiday Inn Hotel and Suites), a recently opened Green Mill Restaurant and Bar, a Marriott brand under construction (a Courtyard Hotel) and two Hilton Hotels branded properties in development (two Homewood Suites).

Our Approach
Because we firmly believe that our long term success hinges on our ability to continually reinvest in our properties, TPI does not work under third party management agreements.  All of the hotels in our portfolio are either wholly owned or owned in conjunction with a partnership agreement with our valued investors.  We develop our properties with a vested interest in the success of the project because we intend it own and manage the property long term. 

Campus development
One of the key elements of TPI’s success has been a campus development approach. By clustering several properties in a given market, we experience synergies and efficiencies from both an operations and sales standpoint. For example, we will cluster a restaurant, one or more transient hotels and an extended stay hotel all within walking distance of each other and with various brand affiliations. This approach also speaks to the benefits of geographic efficiencies and depth of market knowledge.

Market knowledge and research
TPI conducts our own market studies and financial projections for all new developments in the state of Minnesota. As our geographic reach expands, this approach will change. Currently, we place more faith and trust in our own analysis than upon third party consultants. With our experience in the various markets within the state, we not only have first hand knowledge of market performance, but also trust our instincts as to the potential opportunities that exist. This strategy does more than feel right to us. The results exhibit industry leading results across the entire portfolio.

Passion for new projects
A very important aspect to TPI’s development is that we are passionate about each new project we undertake. We pride ourselves for crafting unique projects that maximize a site and market potential, demonstrating a passion to make each new project our most successful yet.

TPI’s first hospitality business opened in 1972 when our industry was rooted in maverick entrepreneurs with more experience than education. Since then, the face of the industry has changed from individual entrepreneurs into professional organizations.

Our company has evolved as well, but not at the expense of our passion, entrepreneurial spirit and emphasis on instinct and what “feels right”. Through our experience, we have seen the processes we have developed and employed over the years validated by becoming common practice in the industry as well as the content of hospitality courses.

Long term approach to development
Because we intend to keep going forward with steady growth and a long term holding strategy, it is critically important we continue to develop projects as if each new deal is the best deal yet.