Waterford and Maverick strengthen market position with strategic merger

Waterford Hotel Group and Maverick Hotels & Restaurants person reached a strategical merger to bolster their beingness successful the marketplace and thrust growth.

The combined hospitality absorption institution volition person a portfolio exceeding 50 properties crossed the US. This volition summation operational scope and geographic reach, including extended holdings successful Chicago, New England, the Eastern US, South Central states, and the Midwest.

The portfolio present includes a scope of spot types specified arsenic full-service hotels, boutique inns, normal centres, and branded Marriott and Hilton locations.

Waterford Hotel Group president and CEO Len Wolman said: “Last year, we acceptable an ambitious extremity to scope 50 hotels wrong 2 years — a milestone we person present surpassed. This merger marks an breathtaking caller section for Waterford and Maverick, strengthening our quality to thrust performance, grow recognition, and substance semipermanent growth.”

The merger allows the associated institution to prosecute acquisitions, caller absorption contracts and redevelopment opportunities successful cardinal markets.

The recently formed entity besides plans to capitalise connected an progressive improvement pipeline.

The companies person indicated that the merger volition effect successful caller opportunities for unit improvement wrong the expanded organisation.

Waterford and Maverick noted that worker acquisition remains a precedence pursuing their alignment.

Maverick Hotels & Restaurants laminitis and CEO Robert Habeeb said: “This merger allows america to physique connected our corporate achievements portion unlocking adjacent greater opportunities.

“Waterford's proven way grounds successful hospitality management, combined with our shared committedness to excellence, makes this a almighty combination. We are well-positioned to grow our footprint, fortify our competitory edge, and make greater worth for owners and investors.”

In October, Waterford added 2 caller hotels, Maison Dupuy Hotel successful New Orleans and Sheraton Flowood The Refuge Hotel & Conference Center successful Mississippi, to its US portfolio.

"Waterford and Maverick fortify marketplace presumption with strategical merger" was primitively created and published by Hotel Management Network, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.