Industry NewsBenchmark Hospitality, Gemstone Hotels & Resorts Merge

Benchmark Hospitality, Gemstone Hotels & Resorts Merge

HOUSTON, Texas—Benchmark Hospitality International and Gemstone Hotels & Resorts, a Gencom affiliate, hotels and conference centers, have announced that Benchmark and Gemstone have joined together to create a portfolio of 58 unique and distinctive properties with 10,000 staff members across the globe.
“This merger was a natural fit,” explains Benchmark Hospitality International CEO Alex Cabañas.

“Not only do we share a similar focus on unique and independent properties, but our organizational cultures and values align extremely well.” Cabañas continues with, “We felt it was critical to share this exciting news with our clients and employees before the press release went public.” Cabañas concludes with, “Though this has not been common in other industry mergers, for us it was the right thing to do to ensure the change and transition was thoroughly embraced by our ownership clients and team members.”

Greg Champion, Benchmark’s president and COO emphasizes that, “The merger of these two great organizations creates not only incredible synergies and opportunities for the growth and expansion of the combined companies, but also provides wonderful prospects and pathways for the development and advancement for our much-valued customers, employees and team members.”

“Passion, servant leadership and an entrepreneurial spirit will remain at the foundation of our new combined company,” says Jeff McIntyre, Gemstone’s principal partner. “Together, we will combine efforts to offer best-in-class services for our partners.”

In the newly-merged company, Burt Cabañas, Benchmark Hospitality’s founder and chairman, and Gencom, led by Karim Alibhai, will be the principal shareholders. Burt Cabañas will continue in his role of chairman of the combined companies, the remaining partners of both companies will serve in the following roles with the new entity; Alex Cabañas will serve as chief executive officer, and Jeff McIntyre and Greg Champion will serve as co-presidents and co-chief operating officers. Thomas Prins, a Gemstone partner, will take on the new role of managing director real estate investments.

The combined company will further this focus and apply its unique entrepreneurial management style to the expanded portfolio of independently-branded properties, while also deploying soft brands, such as Curio, Autograph Collection, Tribute, Preferred Hotels & Resorts, Leading Hotels of the World, Historic Hotels of the World and IACC. Further growth is on the agenda for the combined company with projects already in the pipeline. “The platform that is being created is robust and in part designed for well-measured growth,” explained Thomas Prins, “something we will take advantage of while at the same time creating great case studies at each of our existing properties.”

Most importantly, the merger represents an opportunity to combine the collective resources and experience of both companies to better serve ownership partners, customers and the independent property segment of the hospitality industry. The new company has already begun to integrate the best systems and resources from both organizations, using a well-engineered plan to create maximum efficiencies, while other aspects of consolidation will occur over time.

Benchmark and Gemstone are currently engaged in a comprehensive strategic envisioning and branding process to determine the new brand pillars, signature and brand positioning for the consolidated company, and plans to roll this out in the near future. Headquarters will be located in Houston, Texas with satellite offices in Park City, Utah and Miami, Fla.

“I am so pleased with this new partnership and the expansion of our company,” said Burt Cabañas. “This merger is in line with our overall strategic growth plans to double the size of our company within five years. With the merger of these two incredible organizations, we’re enthusiastically on our way toward achieving this significant goal, which will ultimately better serve the interests of our property owners and also create additional opportunities for our team members.”

“Gencom is very excited about being a part of this dynamic enterprise,” said Karim Alibhai. “This is a merger of two highly sought after companies with superior management capabilities. The management team combined has a wealth of hospitality experience, transcending over all classes of hotels, resorts and conference centers with strong performance through multiple business cycles.”

RELATED ARTICLES

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...

Hunter Hotel Advisors Brokers Sale of Residence Inn Detroit Novi

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 107-key Residence Inn Detroit Novi. Spark GHC purchased the property from an institutional...

PMZ Realty Capital Arranges Loan for Hampton Inn Marysville

PMZ Realty Capital LLC announced that it has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan...

LivAway Suites Breaks Ground on New Property in Tucson, Arizona

SALT LAKE CITY, Utah—LivAway Suites announced the groundbreaking of its newest property in Tucson, Arizona, which marks its fourth in the state over the...