Two of the most prominent and successful names in the independent and lifestyle hotels and resorts industry, Commune Hotels & Resorts and Destination Hotels, has joined forces creating the leading operator of independent and lifestyle hotels and resorts.
"We are thrilled to join with Destination. Their team and the Lowe family share our passion and commitment for offering locally relevant, unique and personal experiences to our guests, while also delivering strong financial results for our property owners," said John Pritzker, Chairman of Commune Hotels & Resorts. "As well, we are fortunate to have such fantastic depth of leadership in both Jamie Sabatier and Niki Leondakis. I am confident that together they will lead the company into a new era."
According to their press release in PR NewsWire, the merger between the two companies will give birth to a single company managing over 90 hotels and resorts in seven countries, with approximately $2 billion of total property revenues under management. The company will be based in Denver, Colorado, with offices in San Francisco, New York, Singapore, and Shanghai. With the merger, Commune and Destination will have a larger sales, marketing and revenue management platform and distribution system, through which to drive enhanced property revenues and performance.
"This is an exciting step forward for all of us as we bring together these two great and complementary hospitality companies," said Robert Lowe, Jr, Co-CEO of Lowe Enterprises, parent company of Destination Hotels. "Joining forces with Commune will allow us to position the combined company as the most sought after operator in this exciting segment of the industry, and enhances our ability to deliver differentiated experiences to travelers across the globe. We will stay true to our guests and brands while driving enhanced performance for our owners as we continue to grow together."
Jamie Sabatier and Niki Leondakis will assume the leadership of the combined company, while hospitality veterans John Pritzker and Robert Lowe, Jr will serve as Co-Chairmen.
