A handful of hotel management companies decided to merge together this year, including Pyramid Global Hospitality's European division merging with Axiom Hospitality and PM Hotel Group combining with Sightline Hospitality.
There were also some noteworthy acquisitions, such as Nautic Partners acquiring Davidson Hospitality Group from KSL Capital Partners.
Below is a roundup of HNN's coverage of hotel management company mergers and acquisitions in 2024.
Pyramid merges European division with Axiom
Pyramid Global Hospitality's European division — Hamilton Pyramid Europe — formed a strategic merger with London-based Axiom Hospitality, HNN's Sean McCracken reports. The merger will officially begin in early 2025.
The deal will add 30 properties to Pyramid's existing portfolio, bringing its total to more than 48 hotels and 8,000 rooms. The division will be led by Axiom's current co-CEOs Jamie Lamb and Alex Pritchard.
“In Jamie, Alex and the entire Axiom team, we see a management platform much like ourselves, with a shared sense of commitment to our owner clients and similar organizational ‘people-first’ culture," Pyramid CEO Warren Fields said in a news release announcing the deal.
PM Hotel Group, Sightline Hospitality merge
Hotel management companies PM Hotel Group and Sightline Hospitality merged together under the PM Hotel Group name in November. The merger added 22 hotels to PM Hotel Group's portfolio, primarily on the West Coast and in the mountain regions.
“Our companies share a vision for redefining guest experiences and a dedication to operational excellence," PM Hotel Group President Joseph Bojanowski said in a news release. "This partnership allows us to leverage our combined expertise, expanding our footprint from coast to coast with a diverse portfolio of distinctive properties. By uniting our people and strengths, we are well-positioned to meet the evolving demands of today's discerning travelers, while setting new benchmarks for innovation in our industry.”
Davidson Hospitality sold to Nautic Partners
KSL Capital Partners sold management company Davidson Hospitality to private equity firm Nautic Partners for an undisclosed price in early November, HNN's Stephanie Ricca reports.
"Nautic's investment in Davidson Hospitality Group represents a strategic expansion into the hospitality sector. The investment builds upon Nautic's previous sector experience in third-party property management, facilities management and corporate lodging services," according to a news release.
An affiliate of KSL acquired Davidson back in 2015. Davidson has a portfolio of 86 hotels and resorts and more than 200 food-and-beverage outlets across the U.S.
Dusit Hotels forms strategic partnership with Generator and Freehand Hotels
Thailand-based Dusit Hotels and Resorts formed a strategic partnership with Generator and Freehand Hotels in late August, HNN's Bryan Wroten reports. The partnership allowed both companies to expand their reach in regions they previously weren't active in.
London-based Generator and Freehand Hotels introduced Dusit Hotels and Resorts to markets in Europe and the U.S. such as London, Paris, New York and Miami. Dusit introduced Generator and Freehand Hotels to markets in Asia such as Bangkok, Manila, Kyoto and Abu Dhabi.
“It’s a real win-win situation for both companies,” said Siradej Donavanik, vice president of global development at Dusit International. “It broadens our development horizons without compromising our existing brand portfolios, allowing us to capitalize on prospects that might not align with our current brand offerings. We are delighted to collaborate with Generator and Freehand and look forward to breaking new ground with many exciting new signings ahead.”
Alchemy Step Hotel Group acquires FLI Group
Frankfurt-based hotel investment firm Alchemy Step Hotel Group acquired Ghent, Belgium-based FLI Group in early October, HNN's Terence Baker reports. The acquisition added eight hotels previously owned by Hamilton Hotel Partners to ASHG's portfolio of five hotels and about 800 rooms.
All of FLI Group's properties are located in Belgium, and total more than 1,000 rooms. ASHG is a joint venture between fund Alchemy Special Opportunities and operator Step Partners GmbH. The latter will manage the newly added properties.
Stonebridge acquires Real Hospitality Group
Denver-based hotel owner-operator Stonebridge Companies acquired Real Hospitality Group in May, growing its portfolio to 160 hotels with 24,000 rooms across the U.S., McCracken reports.
“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.
Real Hospitality's founder, president and CEO Ben Seidel joined the combined company as principal and sits on the company's board of directors.
Best Hotel Properties signs joint-venture agreement with CPI Property Group
Bratislava, Slovakia-based owner-operator Best Hotel Properties signed a joint-venture agreement with CPI Property Group, assuming ownership of 50% of an eight-hotel portfolio in the Czech Republic managed by CPI subsidiary CPI Hotels, Baker reports. The deal also included 50% of CPI Hotels, and the price in its entirety was about €173 million ($189 million).
CPI Hotels retained operations of all eight hotels, which includes the 559-room Clarion Congress Hotel Prague, 243-room Comfort Hotel Prague City East and 173-room Mamaison Residence Downtown Prague.
Scarlett Hotel Group, Everwood Hospitality join forces
Hospitality management company Scarlett Hotel Group and fully integrated private investment and development firm Everwood Hospitality Partners combined through a strategic partnership in January, HNN reports.
Scarlett Hotel Group shifted its focus entirely to hotel management, including the management of Everwood's properties. Everwood changed its name to Everwood Capital Partners, as it shifted its focus entirely to investment and capital deployment services.
“We’re thrilled to expand our reach in the hospitality industry by merging with Everwood,” Zio Pekovic, principal of Scarlett, said in a news release announcing the merger. “Our two companies have incredibly compatible outlooks on the investment process. Together, we have more power to fuel growth for the properties we purchase and manage. This strategic realignment will also allow the combined companies to maximize their individual strengths and pursue new opportunities for growth.”