Industry NewsBrandsPyramid Global Closed 2022 With 59 Properties Added Since Merger

Pyramid Global Closed 2022 With 59 Properties Added Since Merger

BOSTON and THE WOODLANDS, Texas—Established by the merger of three hotel and resort management companies, Pyramid Global Hospitality was introduced as a collection of divisions, including Benchmark; Pyramid Luxury & Lifestyle; and Hamilton, Pyramid Europe. In a look back at the year plus since the merger, Pyramid Global has record growth and development, including the addition of 59 properties to the company’s portfolio, six executive promotions, and investment in the technology and tools provided across the collection.

Continuing the momentum, Pyramid Global is on track to hit a milestone of 250 properties in its portfolio. Since the merger, Pyramid Global Hospitality has added 59 properties to join the company’s distinguished asset portfolio. Additions included Riverhouse on the Deschutes in Bend, Oregon; La Quinta Resort & Club in Palm Springs, California; W Hotel in Rome, Italy; and the 12 properties within the Provenance portfolio in locations from Seattle to Nashville.

“The tremendous success and growth our team has seen over the last year and a half, and the introduction of Pyramid Global Hospitality further illustrate our commitment to forging the best third-party management company in the industry,” said Warren Fields, CEO of Pyramid Global Hospitality. “As we continue this exciting period of growth and development, we are also pleased to recognize some of the multifaceted leaders that comprise our best-in-class team.”

Executive promotions included Calvin Banks to senior vice president of development and culture; Lisa Compton-Martin to senior vice president of people operations; Paul Bashaw to vice president of global sales; Suya Davenport to vice president of global sales; Greg Goodwin to vice president of information technology; and Chad Heilsen to vice president finance operations.

Additionally, President Alex Cabañas will assume the role of executive chairman for the Pyramid Global Hospitality Board of Directors, focusing on the long-term interests of the business and its stakeholders, strengthening owner and partner relations as well as the creation of new growth opportunities across all hospitality verticals. Warren Fields will continue leading the operations of the company as CEO.

Additional efforts over the last year include Pyramid Global’s investment in technology and tools. Pyramid’s analytics platform provides real-time insights to deliver commercial strategies, profitability, and guest experiences.

“Over the last year, we have seen immense success across the portfolio with continued improvement in hotel performance and excellent flow through,” said Fields. “In 2022, we saw a 40 percent increase in revenue across our same-store assets with a 60 percent flow through to our net operating income to our owners. We are excited for the potential ahead for Pyramid Global as we continue this journey of strategic growth, leveraging our previous success and amplifying our outstanding new additions.”