Topic: Mergers & Acquisitions
A year after closing on the Two Roads Hospitality acquisition, Hyatt reported some ups and downs in its earnings for 2019.
The combined business manages or asset manages 141 hotels with 32,000 rooms across eight countries.
The merged Hamilton Hotel Partners and Pyramid Hotel Group now manage 141 hotels and 32,000 rooms in eight countries, with Pyramid targeting Europe.
The firm also raised more than $341 million in 2019, a significant portion of which came from its hospitality and Opportunity Zone initiatives.
The transaction, expected to be consummated in the first half of 2020, is still subject to regulatory approval and other closing conditions.
The combined company operates under the Aimbridge Hospitality name in the Americas and uses the Interstate brand for international markets.
Should the agreement go through, the combined company would be called Watermark Lodging Trust and have a portfolio of 33 hotels.
The transaction adds seven properties and more than 600 keys to Aimbridge Hospitality’s portfolio.
The merger is expected to close during the fourth quarter of 2019.
The combined company operates 14 hotels with 1,870 rooms.