New Zealand hotel operators Capstone and Marsden Group announce merger
Capstone Hotel Management and Marsden Group have completed their merger, forming New Zealand’s largest locally owned hotel management platform with over 40 properties nationwide.
The merger combines Capstone’s third-party hotel management services with Marsden Group’s capital strength and hospitality investment portfolio. Marsden Group’s portfolio of five brands includes Marsden Hotels & Resorts, Ramada, Wyndham Garden, Microtel by Wyndham and Capstone Hotels & Resorts.
As part of the transaction, Capstone Hotels & Resorts Limited will operate as a distinct brand within the expanded Marsden Group structure. In addition, Sajad Bassam has been appointed CEO of the combined group, while Clare Davies, founder of Capstone, retains an equity stake and serves as COO while sitting on the boards of both Capstone and Marsden Group.
The enlarged platform brings together national sales capability, consolidated revenue management infrastructure and enhanced procurement leverage across the combined portfolio, which includes approximately 45 properties and more than 2,500 rooms.
by Swasti Sharma