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.
The European platform will be led by Frank Croston, who is the CEO of Hamilton Hotel Partners, a Pyramid Hotel Group Company.
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.
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