CHM and Warnick + Company have merged to form CHMWarnick, the world’s largest hotel asset management company. The new company will provide hotel business advisory services including asset management, operational assessment and strategic development advisory from offices in Boston, Denver, Los Angeles, Minneapolis, New York and Phoenix.
The merged companies have a combined client portfolio of 54 hotels with 23,000 rooms, representing roughly US$8 billion in hotel assets under ongoing asset management. The portfolio includes brands such as Four Seasons, Hilton, Hyatt, Mandarin Oriental, Marriott, Ritz-Carlton, Trump Hotels, Westin and W Hotels, along with several independent hotels.
CHMWarnick will also represent owners of several under-construction hotel projects including the Westin Hotel at Denver International Airport, Marriott Marquis McCormick plan in Chicago and a US$2 billion mixed-used project in San Francisco.
“As we each looked for opportunities to provide our clients with best-in-class asset management and advisory services, it became abundantly clear that the best strategy was to combine our two firms,” said Richard Warnick, president and founder of Warnick + Company. “Our end game is to be the top-of-mind, first choice for owners seeking professional hotel asset management and value creating advisory services.”
“CHM and Warnick + Company have similar, yet complementary areas of expertise, proven track records for achieving results, compatible cultures and a fanatical dedication to the best interest of our clients,” added Chad Crandell, co-founder and president of CHM. “This merger is one of the best examples we have ever seen of the whole being greater than the sum of its parts, and we all look forward to sharing this with our long-standing clients.”