BOSTON, MA and THE WOODLANDS, TX / HOTEL MANAGEMENT / June 01, 2022

Benchmark Pyramid has rebranded to Pyramid Global Hospitality. The parent entity will include multiple divisions responsible for specific industry segments. All branded properties in the Americas will fall under the purview of Pyramid Global Hospitality. Benchmark, Pyramid Luxury Lifestyle will focus exclusively on the company’s portfolio of independent properties. Hamilton, Pyramid Europe will continue to be responsible for the company’s growing portfolio of European hotels.

Pyramid Hotel Group, Hamilton Hotel Partners merge

Benchmark Pyramid, in turn, was created in September by the merger of development and management firm Benchmark Global Hospitality and management company Pyramid Hotel Group. At the time, the combined companies had a worldwide portfolio of 210 properties and annual operating revenue under management of more than $3 billion. 

“Prior to the merger, each entity had its own identity that resonated with different audiences,” said Warren Fields, CEO and principal of Pyramid Global Hospitality. “Benchmark has strong equity with consumers, and Hamilton has a great reputation as an operator in Europe, while Pyramid has a demonstrated track record with branded hotels. To maintain each entity’s strong brand equity, we formed divisions that speak best to their respective verticals. By having these three distinct branded and independent verticals in the United States and Europe, we can best serve the different needs of our owners and their assets by providing a hands-on approach each company always maintained. From an associate standpoint, our ability to leverage scale is a net positive, allowing us to share best-in-class practices, provide limitless opportunities and be the industry’s employer of choice.”

The company also debuted its new logo, a series of three, interconnected pyramids in shades of purple. A new combined company website is live.

“We are excited about our new identity and believe it amplifies the shared strength of our brand values and perception of our combined company,” said Alex Cabañas, Pyramid Global’s president. “Continuing to build upon our respective foundations, Pyramid Global Hospitality will invest in people, properties and proprietary solutions to deliver power on the ground and strategic intelligence for exceptional performance and profitability in the hospitality industry. We strive to maintain a best-in-industry standing as the employer of choice in the full-service, select-service and independent categories. Our deep network of capital partners and portfolio assets gives us the agility to tackle opportunities.”

BOSTON, MA, THE WOODLANDS, TX and PORTLAND, OR / ACCESSWIRE / 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 successful management from the Provenance team is something we look forward to building upon as we continue to create the most owner-focused, experiential company in the industry.”

Katherine Durant, President and CEO of Provenance, said, “This transaction is an exciting step forward for Provenance, our employees and our guests. As part of Benchmark Pyramid, Provenance employees will gain access to even greater employment opportunities, and our guests will benefit from the resources of a larger organization with a global portfolio of properties. We are confident that Benchmark Pyramid shares our employee-oriented culture and values, and we look forward to a bright future for our combined company.”

Provenance’s Founder and Chairman, Gordon Sondland, said, “We are thrilled to join forces with Benchmark Pyramid, a celebrated leader in the hospitality industry with a history of success. Together, we have great opportunities for growth, and I look forward to remaining engaged with the company and its world-class management team as a member of the combined company’s board.”

The newly acquired properties include two downtown Seattle, Washington hotels-Hotel Max and Hotel Theodore; the boutique Old No. 77 Hotel & Chandlery, situated just blocks from New Orleans, Louisiana’s French Quarter; downtown Nashville, Tennessee’s newly renovated Hotel Preston; the museum-worthy collection of glass art at Hotel Murano in the South Sound; and the midwestern charm and modern design of Fort Wayne, Indiana’s The Bradley. Also included are six downtown Portland, Oregon hotels: the Hollywood golden age-style Hotel Deluxe in the Goose Hollow neighborhood, the award-winning Woodlark, Sentinel in the West End, Hotel Lucia, which is listed on the National Register of Historic Places, the iconic Heathman Hotel, and the art-filled rooms of Dossier.

Following the close of the transaction, which is expected in the second quarter of 2022, Provenance will merge its interests into Benchmark Pyramid, and Sondland will join the board of directors. The transaction is ready to close upon lender consent which all parties expect to be forthcoming quickly.

About Benchmark Pyramid
Benchmark Pyramid was formed by the 2021 merger of two hotel and resort management companies, creating the most owner-focused, experiential company in the industry and its best workplace. The organization’s global portfolio spans more than 240 properties in the U.S., Caribbean and Europe. It maintains offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit www.benchmarkpyramid.com.

About Provenance Hotels
Headquartered in Portland, Oregon, Provenance Hotels owns, develops and manages market-leading independent hotels. Imbued with intentional, deeply integrated art stories, these Conde Nast Reader’s Choice Award-winning hotels showcase trend-setting amenities, creative collaborations with local co-conspirators and innovative food & beverage operations while focusing on operational efficiency and profitability. The portfolio includes 12 properties totaling nearly 2,000 keys. The Company can be found online at www.provenancehotels.com.

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Andrew Doucette
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Phone: (978) 987-9493

BOSTON, MA and THE WOODLANDS, TX / ACCESSWIRE / April 11, 2022 / Global hospitality company Benchmark Pyramid, has acquired Bend, Oregon-based Riverhouse on the Deschutes, adding to their worldwide portfolio of over 250 plus properties.

As Benchmark Pyramid sees a surge of demand across all areas of business in both acquisitions and new management contracts, the company has taken on a new assignment of acquiring Riverhouse on the Deschutes, a riverfront property located on the banks of the Deschutes River.

“We are delighted to expand our portfolio to the banks of the Deschutes River, and to further our relationship with Barings, the resort’s owner,” says Benchmark CEO Alex Cabañas. “Riverhouse on the Deschutes offers the quintessential Central Oregon experience, topnotch conference facilities, a spectacular setting and superb recreational opportunities,” he notes.

With the Deschutes River as its backdrop, the resort features many amenities including climate-controlled indoor and outdoor pools and spas, a fitness center, a restaurant and lounge, a spa, and Oregon’s largest convention center east of the Cascades. All 221 guest rooms come equipped with fireplaces and feature a private patio or balcony with a choice of deluxe rooms or scenic river views.

Other Benchmark Pyramid properties with close proximity to Oregon include Skamania Lodge in Stevenson, Washington, YOTELPAD Park City in Park City, Utah, and Snow King Resort in Jackson, Wyoming.

About Benchmark Pyramid
Benchmark Pyramid was formed by the 2021 merger of two hotel and resort management companies, creating the most owner-focused, experiential company in the industry and its best workplace. The organization’s global portfolio spans more than 240 properties in the U.S., Caribbean and Europe. It maintains offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit www.benchmarkpyramid.com.

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Jenna Bush
Mower
jbush@mower.com
Phone: (212) 284-9936

OSTON, MA and THE WOODLANDS, TX / ACCESSWIRE / September 30, 2021 / Two storied hotel and resort management companies have aligned forces, creating one powerhouse organization strategically positioned for the future of the global hospitality industry: Benchmark Pyramid. With a worldwide portfolio of 210 properties and annual operating revenue under management of more than $3 billion, the new company captures the passions and unique strengths of Benchmark Global Hospitality, a celebrated leader in the development and management of independent and lifestyle properties, and Pyramid Hotel Group, with its history of success across branded/franchise and resort properties. Benchmark Pyramid’s combined centers of excellence will make it the property manager and employer of choice as it delivers improved and accelerated results focused on service to owners and hotel guests.

The new entity is backed by each company’s respective longtime investment partners, Gencom and TZP Group. Serving as co-chairs are Pyramid Hotel Group co-founder Rick Kelleher and Benchmark founder Burt Cabañas-both hospitality industry visionaries who built their respective companies from the ground up.

A meeting of minds between hospitality industry innovators
Leading the new company are CEO Warren Fields, formerly CEO and founding partner of Pyramid Hotel Group, and President Alex Cabañas, the former CEO of Benchmark Global Hospitality. Its European platform will continue to be led by Frank Croston, CEO of U.K.-based Hamilton Hotel Partners, a Pyramid Hotel Group Company.

“Entertaining the idea of a merger has always been about finding the right fit in terms of both business strategy and employee culture,” said Fields in announcing the merger. “We recognized early in our discussions there were unique and exceptional advantages in combining the respective strengths of our organizations. Together, Benchmark Pyramid has the depth, capability and DNA to innovate and lead for years to come, which will significantly increase owner value, employee advancement opportunities, and portfolio growth.”

“Since the beginning, specialization and differentiation have been the focus of our merger conversations,” said Alex Cabañas. “Our goal is to be the best in independent and brand management as well as the most experiential hotel company in the industry for our guests, our employees and the communities we’re in.”

Expanded service offering and strengthened divisions
Specifically, Benchmark Pyramid will provide a wider range of specialized services going forward while continuing to offer all services available before the merger. Across the diverse portfolio of properties, its core businesses include management of independent, lifestyle, soft brand, full-service and select-service hotels and resorts, as well as corporate conference centers, day meetings and event centers. It also offers a full range of hospitality advisory and technical services, from experiential on-property innovation to receivership, asset management, project management and Benchmark’s ACCESS platform; and real estate investments and partnerships.

About Benchmark Pyramid 
Benchmark Pyramid was formed by the 2021 merger of two hotel and resort management companies, creating the most owner-focused, experiential company in the industry and its best workplace. The organization’s global portfolio spans 210 properties in the U.S., Caribbean and Europe. It maintains offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit www.benchmarkpyramid.com.

About Gencom
Founded in 1987 by Karim Alibhai, Gencom is one of the nation’s leading domestic and international investment and development firms specializing in hospitality with further emphasis on the luxury, mixed-use sector as well as related operating platform investments. Headquartered in Miami, Gencom is fully integrated and highly diversified, with expertise in virtually every aspect of development, acquisition, financing, asset management and sales of hospitality properties. Gencom has had success not only in developing, purchasing and exiting single assets and hotel portfolios, it also has been successful in creating, purchasing and growing hospitality platform investments, throughout the United States, Caribbean and Europe, including Gencom American Hospitality, Summerfield Suites, Carnival Resorts and Interstate Hotels. Gencom companies’ successful track record has led to significant ventures with prominent institutional investors, prominent family groups and other strategic partners both domestically and internationally. For more information about Gencom, please visit www.gencomgrp.com.

About TZP Group 
TZP Group, a multi-strategy private equity firm managing approximately $2.2 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies and TZP Strategies Acquisition Corp., is focused on control, growth equity and structured capital investments in business services, technology, and consumer companies. TZP has recently launched an Impact Investing strategy that invests in mission-oriented businesses addressing key U.N. Sustainable Development challenges.

Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.

Media Contacts:
Trish Nugent / Jenna Bush
Mower
pnugent@mower.com / jbush@mower.com
212-284-9935 / 212-284-9936

CONTACTS

Trish Nugent
Mower
pnugent@mower.com
Phone: 212-284-9935