Pyramid Hotel Group has said it is on track to double its portfolio over the next three to five years after adding its 25th hotel to its portfolio in the space of 12 months.
The new hotels include multiple select and full-service hotels from Florida to California, as well as international properties in England and Norway. With a combined room count of 4,851 totaling more than $1 billion in asset value, the properties range in size from a 76-room, independent resort and spa to a 444-room, big box, branded hotel.
“Coming out of the most devastating period the hospitality industry has ever faced, Pyramid remains focused on delivering superior results to hoteliers across a wide range of markets and segments,” said Warren Fields, president & CEO, Pyramid Hotel Group.
“To best serve our clients, we have been investing heavily in our people and cutting-edge technology. We are confident these moves will better allow us to capitalize on the ever-shifting demands of the industry as people look forward to traveling once again.”
Pyramid’s expansion outside the United States has been helped by its acquisition of London-based management and asset management platform Hamilton Hotel Partners last year and the company expects continued European growth.