Hospitality management company Lark Hotels and Life House, a contextual hotel brand and operator, have announced a joint venture, creating a new entity named Lark Hospitality.
This move brings together nearly 100 independent properties, 33 restaurants and bars, and a substantial footprint across the US, Hawaii, and Mexico.
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The collaboration aims to leverage the strengths of both companies to enhance their offerings and market presence.
Lark Hotels founder Rob Blood and CEO Peter Twachtman, as well as Life House CEO Marc Ghobriel, will lead the joint venture.
Blood will take the role of chairman, Twachtman will become the CEO, and Ghobriel will head the Life House transition team.
The joint venture is set to double Lark’s footprint and grow the company’s centralised team by integrating positions from Life House.
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By GlobalDataThis expansion will allow the combined entity to offer more customised hotel management solutions, streamline day-to-day operations, and enhance hiring, technology, and marketing services to optimise owner cash flow.
Lark Hospitality will manage nearly $1bn in assets, representing accommodations in 27 states, with more than 3,000 total keys.
The entity will also employ nearly 1,500 staff members during peak season and is expected to generate annual revenues exceeding $150m.
Blood said: “There is no company that has made everyone at Lark Hotels sharpen their pencils more than Life House.
“Over the last five years, they have made us think deeply about who we are as a company, what our value proposition is for our stakeholders, and who we want to be going forward. As we come together, we look forward to incorporating the best practices of both of our companies to deliver exceptional experiences for our guests, investors, hotel owners and teams.”
The joint venture has received continued support from Life House stakeholders, including Inovia Capital and Thayer Investment Partners, who have expressed confidence in the strategic direction of Lark Hospitality.
Ghobriel said: “The complementary strengths of Life House and Lark, both geographically and operationally, create a leader in the independent and boutique hotel management market.
“We’re eager to continue focusing on delivering a great experience, to guests at the properties we manage, as well as to their owners, and we plan on investing in building a strong portfolio of brands across North America.”
