Combination with Ashford Inc.
Baird served as the exclusive financial advisor to Remington’s Hotel Management Business on this transaction
AboutPrivately-held Remington Holdings, L.P. (“Remington”) recently announced that it has completed the combination of its Hotel Management Business with Ashford Inc. (“Ashford”) (NYSE: AINC) for $275 million.
Remington is an independent hotel management company with over 40 years of experience in the hospitality business. Providing top quality service in the area of hotel property management, Remington’s track record of success demonstrates a significant understanding of the hotel business in all phases of the economic cycle. Remington’s Hotel Management Business currently provides comprehensive and cost-effective hotel management services for both Ashford Hospitality Trust, Inc. (NYSE: AHT) and Braemar Hotels & Resorts Inc. (NYSE: BHR). Remington’s portfolio consists of approximately 90 hotels with over 17,400 rooms of full-service and select-service properties representing over a dozen brands across 28 states as well as the District of Columbia. 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 in 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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- November 2019
- Remington Hotel Management Business
- Real Estate
- Target Location
- North America
- Acquiror Location
- North America