Hostmark Hospitality Group Acquires RAR Hospitality
CHICAGO—Hostmark Hospitality Group has acquired RAR Hospitality, a San Diego-based hospitality management group. The combined company will now own and operate both limited-service and full-service hotels, as well as branded and independent properties across the U.S. with a portfolio of 40 hotels totaling more than 5,000 rooms. Operations of RAR’s portfolio will continue in its San Diego office under the Hostmark brand.
“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 its mission of experience-focused hospitality,” said Jerome Cataldo, Hostmark president/CEO. “During a time of uncertainty for the entire hospitality industry, Hostmark plans to continue serving its clients to the highest level, focusing on creative ways to grow revenue and growing its portfolio of managed properties.”
RAR is an independent hotel management company owned and helmed by Chairman/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 its clients in revenue performance, market penetration, profitability and market improvement, according to Hostmark.
“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,” said Lamming, who will assume the role of chief development officer, Western region for Hostmark and will be a member of Hostmark’s executive committee. “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.”
Hostmark Hospitality Group’s expansion is expected to continue rapidly throughout 2020 and beyond as the hospitality industry grows through the current travel climate.
Thomas Prins, Hostmark partner, said, “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.”