acquisition agreement
Benchmark Pyramid to Acquire Portland-Based Provenance Hotels
Benchmark Pyramid | April 18, 2022
BOSTON, THE WOODLANDS, TX and PORTLAND, OR – April 18, 2022 – Benchmark Pyramid and Provenance Hotels (Provenance) today announced the signing of a definitive agreement under which Benchmark Pyramid will acquire Portland, Oregon-based Provenance, adding 12 unique hotels to Benchmark Pyramid’s portfolio of more than 240 properties across the U.S., Europe and the Caribbean. Terms of the transaction were not disclosed. “We couldn’t be more thrilled to welcome the Provenance family into Benchmark Pyramid’s storied portfolio,” said Warren Fields, Benchmark Pyramid’s chief executive officer. “The decades of highly s...
Blackstone and Starwood Capital Group to Acquire Extended Stay America in $6B Deal
Extended Stay America, Inc. | March 15, 2021
CHARLOTTE, N.C. -- March 15, 2021 -- Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and together with ESA, the “Company”) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion. The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium o...
Chatham Bars Inn Joins Preferred Hotels & Resorts
Chatham Bars Inn | December 10, 2020
Chatham, MA (December 10, 2020) – Today, Chatham Bars Inn announces its acceptance into membership of Preferred Hotels & Resorts Legend Collection; the world’s largest independent hotel brand representing more than 750 distinctive hotels, resorts, residences and unique hotel groups across 85 countries. The Preferred Hotels & Resorts Legend Collection is the portfolio’s most prestigious, with exceptional five-star properties in the world’s most remarkable destinations. Globally sophisticated and culturally refined, these singular properties feature exquisite accommodations, stellar and intuitive personal service, renowned din...
Ashford Signs Definitive Agreement to Acquire Remington’s Hotel Management Business
June 4, 2019
DALLAS, June 4, 2019 -- Transaction Highlights: Consideration for the transaction will be a new series of convertible preferred stock Transaction is expected to be immediately accretive to adjusted net income per share Enhances strong alignment of management with the interests of shareholders through the issuance of voting convertible preferred equity Transaction will result in all Ashford-affiliated companies being publicly held Transaction rapidly builds operating scale and increases earnings potential High margin, low-capex business model Transaction will increase Ashford's total enterprise value to approximately $600 mil...
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