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Benchmark, Pyramid merge management businesses

Two management companies, Benchmark Global Hospitality and Pyramid Hotel Group, announced a merger on Thursday to create a new organization called Benchmark Pyramid, which will come to market with a combination of 210 independent lifestyle and branded hotels in the U.S., Caribbean and Europe with annual revenue under management of more than US$3 billion. What likely made this merger work was the disparate portfolios coming together to create an offer with a wider range of management specialty service. Benchmark has been known for its conference center hotels as well as an independent and lifestyle portfolio, whereas Pyramid has a predominance…
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