The boards of Hamilton Hotel Partners and Pyramid Hotel Group, a privately-owned full-service hotel and resort company based in Boston, have signed papers completing a merger of the two.
Hamilton is an independent London-based hotel management and investment firm.
The merger will create a leading international group that will manage, or asset manage, a total of 141 hotels with 32,000 rooms across eight countries, and £5.3 billion of assets under management.
Hamilton specialises in helping hotel owners maximise their returns on capital, providing co-investment, hotel management, hotel asset management, and acquisition and development advisory services to a range of hotel investors and owners including private equity funds, institutional real estate investors, family offices and sovereign wealth funds.
It currently operates or asset manages over 50 hotels across Europe.
Pyramid is a privately-owned hotel and resort management company with offices in Boston, Cincinnati, Phoenix and Dublin.
With over 40 years of experience throughout the United States, Caribbean and Europe, Pyramid offers the full spectrum of institutional quality hotel management, asset management, project management and consulting services.
Pyramid is currently the third largest independent hotel management company in the United States, operating 90 hotels and resorts both independently and under the world’s largest hotel brand companies including Marriott, Hyatt, Hilton and IHG.
Post-merger Hamilton will continue to source hotel and resort transactions, co-invest with capital partners and manage hotels and resorts, while drawing on the strengths and experience of the Pyramid team.
Both the Pyramid and Hamilton brands will be retained for the foreseeable future.
Chief executive of Pyramid, Warren Fields, will be the chief executive of the combined group, with Frank Croston and Chris Evans continuing in their roles leading the Hamilton business.
Fields said: “We have been seeking a European partner for what seems like a long time.
“We have found the right partners in Hamilton and we believe we can create significant synergies and growth opportunities on both sides of the Atlantic.”