The Finch Group Hotels and Resorts

TFG Hospitality, Inc., the predecessor to The Finch Group Hotels and Resorts, Inc., was founded in 1987 to operate a series of hotels acquired by an associated entity, The Finch Group, Inc. (The Finch Group Hotels and Resorts, Inc. and The Finch Group, Inc. will be referred to hereinafter collectively as “TFG’). The Directors consist of Wesley E. Finch, President (founded the parent company in 1981); Dennis H. Blackinton, Treasurer (joined TFG in 1985); and Robert A. James, Esq., Secretary (joined TFG in 1981). The Senior Management of the hotel operation consists of Ernie Palazzolo, Chief Operating Officer (joined in 1988) and Michael Tropp, Chief Financial Officer (joined in 1988).

The Sponsor, the hotel operational arm of TFG, has extensive knowledge of Cape Cod and surrounding Islands. Since the mid 1980’s, TFG has been involved with six hospitality properties on Cape Cod and one on Nantucket Island. Three, the Holiday Inn Hyannis, Koala Inn/Best Western, Hyannis and the Ocean Mist, South Yarmouth, have been repositioned and sold. TFG was retained in 1991 by the FDIC to manage the 266-room Sea Crest Ocean Front Hotel and Conference Center (a condominium hotel), the largest hotel and conference center on Cape Cod. An entity associated with TFG acquired an 87.05% beneficial interest in the property via a sealed bid auction directly from the FDIC in 1994 for $9.5 million. Between the late 1980’s and early 1990’s, TFG and associated persons acquired (primarily through foreclosure or Bankruptcy Court action) a 51% controlling interest in, and in 1988 took over operational control of, The Nantucket Inn and Conference Center, a 100-room property located next to Nantucket Airport. On November 19, 2007, TFG acquired the 232 room, 28,000 sq. ft. of conference space former Sheraton Hyannis for $13.5 million, and upgraded through a $10 million renovation, repositioned and renamed it, The Resort and Conference Center at Hyannis.

TFG, during the early 1990’s New England real estate recession and the resultant downturn in the hospitality sector, provided management, repositioning and marketing services for over 30 assets on behalf of Neworld Bank, Recoll Management, The FDIC, First NH Bank, Green Mountain Bank, Chittendon Bank, Bank of Boston, Casco Northern Bank, and the US Bankruptcy Court. The varied portfolio ranged in size from the 13-room Red Clover Inn, located in Mendon, Vermont, to the 328-room Ramada Hotel in Philadelphia, Pennsylvania and the famous Quechee Lake golf resort, ski area and residential community.

TFG Hotels and Resorts provides full Marketing and Sales support along with financial and accounting services. It also provides complete financial reporting and accounting for all managed properties. TFG Hotels and Resorts is committed to providing consistent standards of quality and service while maintaining the highest level of profitability to all managed properties.