May 25, 2024

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Remington Hotels Acquires Chesapeake Hospitality — LODGING

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Hotel Indigo Baltimore

DALLAS—Remington Lodges has acquired Chesapeake Hospitality’s hotel management expertise. With 65 decades of encounter encouraging resort entrepreneurs and authentic estate traders in the japanese United States, Chesapeake joins Remington with a complementary vision and mission.

The acquisition expands Remington’s footprint to Midwestern markets, which include Pittsburgh, Milwaukee, Detroit, and St. Louis. Also, Remington will grow its portfolio of IHG and independent houses in a number of areas as well as insert its initial Wyndham home. Although the two corporations will be functioning underneath the Remington Motels model, all previous Chesapeake accommodations will continue being under the similar administration and can expect the same remarkable provider.

Chesapeake is a results-driven and lifestyle-ahead group. Chesapeake was crafted on creating asset worth by performing turnarounds, re-branding, and re-positioning, which is essential in the put up-pandemic lodge management market. Joining Remington will give resources that will choose what consumers love about Chesapeake and travel resort success and profitability. Chris Green, who joined Chesapeake over 22 a long time back, will serve as divisional president of Remington.

“I’m so very pleased that Chesapeake is joining Remington, a enterprise that is acknowledged for its stellar effects and has built a real cultural shift in the resort management house,” said Eco-friendly. “This partnership will be a apply in mixing two firms that have operated in different geographical lanes and have a steadfast commitment to undertaking what is very best for their clientele and employees. I’m hunting ahead to getting the assistance our customers know and adore to the upcoming degree as we entry the resources Remington has to provide.”

Remington Lodges has been pursuing an firm with identical benchmarks and strengths with which to associate. Chesapeake and Remington are both of those described by their main values as much as their core competencies. With Chesapeake’s tagline getting “experience what’s possible” and Remington’s being “where passionate men and women thrive,” the two firms are aligned and are each associate-targeted, providing greater lodge homeowners and visitor provider.

“Though the hospitality room has faced significant worries above the earlier number of yrs, Remington has remained steadfast in its commitment to becoming the best lodge supervisor in the market,” explained Remington President and CEO Sloan Dean. “By melding Chesapeake’s tradition and know-how with ours, we’ll be in a position to cultivate even much better interactions with our properties’ owners by offering them with much more sources, better economies of scale, and a additional enjoyable visitor practical experience.”

With the completion of this transaction, Remington Motels will have a portfolio of 121 managed properties under contract in 28 states and Washington D.C. As a end result of the acquisition, Remington’s blend of non-affiliated REIT inns will raise from around 20 % to roughly 40 p.c. The combined corporation will be headquartered in Dallas and oversee all day-to-day functions of the total nationwide portfolio of properties. The identical administration groups will continue to be in location to provide the exact same stage of services proprietors, and visitors hope.

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