American hotel management company Stonebridge Companies has acquired Real Hospitality Group (RHG), which is based in Maryland, US.
The merger is set to enhance the combined company's presence across the US.
RHG founder and CEO Ben Seidel will join the Stonebridge team as a principal and a board member, bringing his extensive industry experience to the expanded entity.
RHG president and CEO Ben Seidel said: "From the day Real Hospitality Group was born 13 years ago, the growth of the company has primarily been the result of the support and the trust of the entire RHG team, from our owners to our employees, to the hotel brands we have partnered with.
“This alignment with Stonebridge offers our owners the buying power, support, and resources that have become essential in today's business and lodging environment while providing the geographical diversity that facilitates our 'Boots on the Ground' operating principle.”
Commenting on the deal, Stonebridge Companies founder and CEO Navin Dimond said: "We’re thrilled to join forces with RHG as we embark on this next chapter of our evolution. The blending of these two companies will create a dynamic, leading hotel management group that will drive innovation and create exciting growth opportunities for our team members.
“This transaction is an opportunity for us to pave the way for elevated success and prosperity for a shared vision for the future. We’re looking forward to a seamless integration that will preserve the best aspects of both organisations and foster a culture of collaboration and innovation for our team members.”
The transaction will significantly expand Stonebridge's portfolio, now featuring more than 160 properties with 24,000 rooms spread across 20 US states.
The combined company will maintain its headquarters in Denver, Colorado, while also keeping a strong East Coast presence.
The terms of the deal have not been disclosed.
Stonebridge Companies has a strategically located portfolio in primary and secondary markets across the US, including select-service, extended-stay, and full-service properties.
