Two companies join forces to launch Benchmark Pyramid
Benchmark Global Hospitality and Pyramid Hotel Group have announced a merger that signifies the creation of a new industry powerhouse with 210 properties around the world.
The combined organisation aims to be the industry’s most owner-focused, experiential management company, as well as a standout employer of choice.
Combining expertise and enhancing services
Hotel and resort management companies Benchmark Global Hospitality and Pyramid Hotel Group, whose combined portfolio spans 210 properties in the US, Caribbean and Europe, are merging. With a global footprint and annual operating revenues under management of more than US$3 billion, Benchmark Pyramid brings together the strengths of each business, accompanied by a promise to deliver ‘improved and accelerated results’.
An expanded range of specialised services will now be offered, alongside all of the services available before the merger. Management of independent, lifestyle, soft brand, full-service and select-service hotels and resorts, along with conference and event centres, will be complemented by a variety of hospitality advisory and technical services, such as asset and project management.
Leading from experience
Pyramid Hotel Group’s co-founder Rick Kelleher and Benchmark’s founder Burt Cabañas will serve as co-chairs for Benchmark Pyramid. The company will be led by CEO Warren Fields, who was formerly CEO and founding partner of Pyramid Hotel Group, and president Alex Cabañas, previously CEO of Benchmark Global Hospitality.
Fields said: “Entertaining the idea of a merger has always been about finding the right fit in terms of both business strategy and employee culture. We recognised early in our discussions there were unique and exceptional advantages in combining the respective strengths of our organisations.
“Together, Benchmark Pyramid has the depth, capability and DNA to innovate and lead for years to come, which will significantly increase owner value, employee advancement opportunities, and portfolio growth.”
Cabañas added: “Since the beginning, specialisation and differentiation have been the focus of our merger conversations. Our goal is to be the best in independent and brand management as well as the most experiential hotel company in the industry for our guests, our employees and the communities we’re in.”
This newly formed organisation is backed by each of the two companies’ longtime investment partners, Gencom and TZP Group.
Accor’s CEO for Northern Europe has declared “our recovery is strong, as is our future” as the hospitality giant revealed that last year’s signings were back to pre-pandemic levels. One of the world’s largest hotel groups is eyeing opportunities for growth following a...
Hyatt House Tallahassee Capitol - University The hotel management company added an impressive 19 properties to its management portfolio in 2021, increasing its presence in key markets across Florida, Georgia and Virginia. After navigating the challenges brought about...
Accor has appointed the experienced hospitality professional to drive its F&B strategy across India, the Middle East, Africa and Turkey, putting food and drink at the heart of every hotel. A high-profile industry figure has joined the French hospitality giant to...
In an exclusive chat, Manikis sits down with our editor-in-chief Richard Frost to discuss how the world’s largest hotel franchising company is responding to the Covid crisis. One of the biggest names in hospitality, Wyndham Hotels & Resorts has a vast global...
Lotte Hotels receives accolades from ‘Russian Business Travel & MICE Award’ and ‘Leaders of the tourism industry of Primorye’
LOTTE Hotel Samara LOTTE Hotel Samara has been honoured with a Russian Business Travel & MICE Award, while LOTTE Hotel Vladivostock has been crowned best five-star business hotel by ‘Leaders of the tourism industry of Primorye’. LOTTE Hotels' successful operation...
Hilton Ain Al Sokhna, Egypt The TOPHOTELPROJECTS construction database shows that the Hilton Hotels & Resorts brand is expanding rapidly worldwide, with the APAC region proving particularly attractive. Hilton Hotels & Resorts currently has no fewer than 140...