CHICAGO — Hostmark Hospitality Group announced its acquisition of RAR Hospitality, a San Diego-based hospitality management group. The combined company will own and operate both limited-service and full-service as well as branded and independent hotels across the United States with a portfolio of 40 hotels totaling more than 5,000 rooms, as well as restaurants. Operations of RAR’s portfolio will continue under the Hostmark brand in the company’s San Diego office.
“RAR Hospitality has exhibited the breadth and depth of experience that is required in successfully managing boutique and independent hotels. The company’s entrepreneurial spirit and proven track record drive their mission of experience-focused hospitality,” said Jerome Cataldo, Hostmark president and CEO. “During a time of uncertainty for the entire hospitality industry, Hostmark plans to continue serving its clients to the highest level, focus on creative ways to grow revenue and growing its portfolio of managed properties.”
RAR is an independent hotel management company owned and led by Bob Rauch, chairman and CEO, and Cameron Lamming, president. The company’s executive team has an average of 25 years of hospitality experience and has been involved in more than $2 billion of real estate transactions in California, Arizona, and Colorado.
“The combined leadership team of the expanded Hostmark brand will work together to build a new, forward-thinking, and disruptive hospitality management firm that will continue to grow through the current industry landscape. We have carefully strengthened our position and updated policies and strategies to continue the high growth rate each of our companies have achieved over the past few years without compromising any part of our hyper high service model,” said Lamming, who will assume the role of chief development officer, Western Region, for Hostmark and will be a member of Hostmark’s executive committee.
Hostmark Hospitality Group plans to continue its expansion in 2020 and beyond as the hospitality industry grows through the current travel climate.
Thomas Prins, Hostmark partner, added, “We are excited for what the future holds and plan to do great things with the RAR team, as we continue to aggressively grow our hospitality management platform including additional M&A deals.”