Hostmark Hospitality Group Acquires Management Group, RAR Hospitality
Hostmark Hospitality Group continues its strong growth through the integration and acquisition of RAR Hospitality, a San Diego-based hospitality management group. The combined company will now 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 over 5,000 rooms as well as successful restaurants. Operations of RAR's portfolio will continue under the Hostmark brand in their 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 Hostmark President and CEO, Jerome Cataldo. "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 a well-respected independent hotel management company owned and helmed by Chairman and CEO Robert A. Rauch and President Cameron Lamming, 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. RAR has delivered measurable results for their clients in revenue performance, market penetration, profitability and market improvement.
"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 current RAR Hospitality President, Cameron 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's careful expansion is expected to continue rapidly throughout 2020 and beyond as the hospitality industry grows through the current travel climate.
Thomas Prins, Hostmark Partner stated, "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."