PMR Hospitality Partners, a South African-based hospitality management and advisory company, is merging with Atlanta-based Valor Hospitality Partners, which was formed by Euan McGlashan and Steve Cesinger in 2012. Terms of the merger were not disclosed.
PMR Hospitality Partners, formed in 2013 by co-owners and managing partners Tony Romer-Lee, McGlashan, Michael Pownall and Graham Wood, grew on the African continent over the past five years and will now operate as Valor Hospitality Partners Africa.
With five properties under management across Africa as well as multiple asset-management and advisory contracts, PMR Hospitality Partners has an established portfolio of award-winning properties.
“We all realized that joining forces globally made perfect sense and, in a business where multiple management companies exist yet none with our full-service strength, professionalism and abilities, merging was a massive win-win for both parties," McGlashan said in a statement. "Our perfectly aligned core values of integrity, courage, transparency and tenacity mean we could not be more pleased to have found a partner with such a strong cultural fit with a longstanding, highly regarded reputation in the hospitality industry.”
Valor Hospitality Partners, which has 48 hotels in its portfolio, is a full-service hotel acquisition, development, management and asset management company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, preopening management and operations management. Valor also offers consulting services on a wide range of project scenarios including working with new or existing ownership groups on reviewing site selection, assessing feasibility studies and project budgets, compiling project budgets and underwriting.