Acquired by Ashford Inc.

Real Estate
Acquired by Ashford Inc.

Summary

Baird served as the exclusive financial advisor to Remington Project Management on this transaction

About

The Project Management business of privately-held Remington Holdings, L.P. (“Remington”) recently announced that it had completed its sale to Ashford Inc. (“Ashford”) (NYSE: AINC) for $203 million.

Remington Project Management provides comprehensive and cost effective design, development, and project management services for both Remington managed hotels as well as external partners. The project management department provides oversight, coordination, planning, and execution of renovation, capital expenditure or ground-up development projects. Remington’s operations are responsible for managing and implementing substantially all capital improvements at Ashford Hospitality Trust, Inc. (“Ashford Trust”) (NYSE: AHT) and Braemar Hotels & Resorts Inc. (“Braemar”) (NYSE: BHR). Remington is headquartered in Dallas, Texas.

Ashford Inc. is a leading provider of asset management and other services to companies within the hospitality industry. Ashford’s principals have a very successful track record and many years of experience investing and asset managing lodging and real estate. Currently, Ashford serves as the advisor to Ashford Trust and Braemar. Ashford is headquartered in Dallas, Texas.
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Real Estate
Acquired by Ashford Inc.
Date
August 2018
Company
Remington Project Management
Transaction
M&A
Sectors
Real Estate
Target Location
North America
Acquiror Location
North America

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