London-based Hamilton Hotel Partners and Boston-based Pyramid Hotel Group have completed the merger of the two businesses. The combined business manages or asset manages 141 hotels with 32,000 rooms across eight countries.
Warren Fields, co-founder/CEO of Pyramid, will be the CEO of the combined group. Frank Croston and Chris Evans, both partners and co-founders of Hamilton Hotel Partners, will continue in their roles leading the Hamilton business.
“We have been seeking a European partner for what seems like a long time,” Fields said in a statement. “We have found the right partners in Hamilton and we believe we can create significant synergies and growth opportunities on both sides of the Atlantic.”
Hamilton will continue to source hotel and resort transactions, co-invest with capital partners and manage hotels and resorts, while drawing on the experience of the Pyramid team. Both the Pyramid and Hamilton brands will be retained for the foreseeable future.
“This exciting merger will result in an enlarged management platform building on Pyramid’s institutional quality management and operational systems and Hamilton’s exceptional reputation and experience in the U.K. and throughout continental Europe,” continued Fields. “Our combined abilities will position us as a leading provider of hotel management and asset management services providing unrivalled service to both private equity and institutional investors alike. We are delighted to be working with Chris and Frank and their talented team.”
Pyramid Hotel Group is a privately owned hotel and resort management company with offices in Boston, Cincinnati, Phoenix and Dublin. It offers hotel management, asset management, project management and consulting services. It operates 90 hotels and resorts, both independently and under Marriott International, Hyatt Hotels Corp., Hilton and IHG brands.
Hamilton Hotel Partners is an independent hotel management and advisory firm covering Europe, the Middle East and Africa. Its portfolio includes 51 hotels.
“The appetite for hotel investment activity in Europe remains strong,” Croston said in a statement. “Capital sources are seeking qualified and aligned management partners to support their growth ambitions. This merger allows us to significantly accelerate our own organic plans for growth and to benefit hugely from the high-quality and highly experienced team at Pyramid.”