Dive Brief:
- Hotel management company Peregrine Hospitality expanded its Northern California hotels portfolio with the acquisition of The Lodge at Tiburon in Tiburon and Toll House Hotel in Los Gatos, according to a release obtained by Hotel Dive.
- Both hotels are located in “high‑demand markets that attract leisure and corporate travelers year-round,” Peregrine CEO Greg Kennealey said in the release, noting that the properties align with the company’s strategy of “creating enhanced guest experiences while delivering long-term asset value.”
- The new hotel additions come after Denver-based Peregrine rebranded last year and subsequently appointed several new executives to its C-suite aimed at driving growth, Kennealey shared with Hotel Dive.
Dive Insight:
The Lodge at Tiburon and Toll House Hotel join Peregrine’s existing portfolio spanning nearly 60 hotels and resorts across the U.S. The company tends to target drive-to leisure markets and those where there are multiple demand drivers, Kennealey told Hotel Dive.
Situated on 3 acres overlooking the San Francisco Bay, The Lodge at Tiburon offers 104 guest rooms as well as 10,000 square feet of flexible meeting space, onsite dining, a fitness center, an outdoor heated pool with cabanas and an open‑air lounge.
Toll House Hotel, meanwhile, is a 115‑key boutique property that features 6,300 square feet of flexible indoor/outdoor meeting space, a fitness center, a business center and onsite dining. Located in one of Santa Clara County’s oldest towns, the hotel was renovated in 2021.
The two hotels have “operational upside, branding/marketing upside, and they are in supply constrained markets with multifaceted demand drivers,” Kennealey said. “We found them attractive for those reasons, but more broadly, we will continue to look at independent boutique and resort properties, particularly in major markets.”
The acquisitions come as Peregrine aims to “grow at a relatively good clip” in the near-term, Kennealey noted, saying that the company will “hopefully do a handful of deals in 2026.”
Recent appointments across the company’s C-suite are expected to bolster growth, Kennealey said. Within the last several months, Peregrine has appointed a new chief financial officer, chief commercial officer, chief operating officer and chief people officer.
“We really wanted leaders who could come in and help drive growth, through the performance that we deliver the existing portfolio and as we go out and look to expand it,” Kennealey said.
