Newly Reconstituted Denihan Hospitality Group Completes Recapitalization
NEW YORK, NY, January 12, 2006. Denihan Hospitality Group, which was formerly known as Affinia Hospitality, has finalized a $532-million recapitalization of its Benjamin and Affinia Hotels portfolios. The company has also established a new hotel management company that will own and operate the two brands and manage other branded and independent hotels.
Credit Suisse First Boston provided the financing for the recapitalization, and Sonnenblick-Goldman, LLC advised DHG during the transaction.
Ownership of all of DHG's assets has also been consolidated from six principals down to two, which now include Patrick Denihan and Brooke Barrett. Denihan and Barrett are now DHG's co-CEOs. They were both a part of the managing directors team for Affinia Hospitality.
Despite all the changes for the company, it shall remain based in New York.
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