PMR Hospitality Partners to merge with Valor Hospitality Partners
PMR Hospitality Partners, a South African-based hospitality management and advisory company, is merging with Atlanta-based Valor Hospitality Partners, which was formed by Euan McGlashan and Steve Cesinger in 2012. Terms of the merger were not disclosed.
With five properties under management across Africa as well as multiple asset-management and advisory contracts, PMR Hospitality Partners has an established portfolio of award-winning properties.
"We all realized that joining forces globally made perfect sense and, in a business where multiple management companies exist yet none with our full-service strength, professionalism and abilities, merging was a massive win-win for both parties," McGlashan said in a statement. "Our perfectly aligned core values of integrity, courage, transparency and tenacity mean we could not be more pleased to have found a partner with such a strong cultural fit with a longstanding, highly regarded reputation in the hospitality industry."
Valor Hospitality Partners, which has 48 hotels in its portfolio, is a full-service hotel acquisition, development, management and asset management company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, preopening management and operations management. Valor also offers consulting services on a wide range of project scenarios including working with new or existing ownership groups on reviewing site selection, assessing feasibility studies and project budgets, compiling project budgets and underwriting.
About Valor Hospitality Partners
Valor Hospitality Partners is a full service hotel management, acquisition and development company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, pre-opening hospitality management and operations management. Valor Hospitality Partners is a proven hospitality management company driven by excellence and achievement of top and bottom line targets. Our on-time/on-budget ethos, combined with our willingness to invest directly in projects, ensures we are aligned with owners and investors. As a comprehensive services provider, Valor Hospitality Partners can also plan and oversee the refurbishment and renovation of existing properties and assist ownership in positioning. Unlike most traditional hospitality management companies, Valor Hospitality Partners' extensive background and expertise in capital markets gives us unique insight to address property level capital requirements as well as operating issues. We can act as a deal sponsor and operating partner and will consider investing our own capital where appropriate. We can also assist existing ownership in developing and implementing restructuring and/or refinancing strategies.