Denver-based hotel owner-operator Stonebridge Companies has acquired Real Hospitality Group, growing its portfolio to 160 hotels with 24,000 rooms across the U.S.
As part of the deal, Real Hospitality founder, president and CEO Ben Seidel will join Stonebridge as principal and sit on the company's board of directors.
The combined company will be headquartered in Denver while it maintains an East Coast presence. The companies will not disclose the terms of the deal, according to a news release.
“The blending of these two companies will create a dynamic, leading hotel management group that will drive innovation and create exciting growth opportunities for our team members,” Stonebridge founder and CEO Navin Dimond said.
Ocean City, Maryland-based Real Hospitality is a hospitality management and investment company that handles acquisitions, development and investments; revenue management; sales and marketing; lender, real estate owned and receivership services; and finance. Its acquisition adds a mix of branded and independent hotels to Stonebridge's portfolio.
“This alignment with Stonebridge offers our owners the buying power, support, and resources that have become essential in today’s business and lodging environment while providing the geographical diversity that facilitates our ‘Boots on the Ground’ operating principle," Seidel said.
Dimond said the deal is an opportunity for Stonebridge to set a path toward future success.
Stonebridge has been active on the acquisition front. In late December 2023, the company bought a five-hotel portfolio comprising approximately 1,200 keys.