Bloomberg Law: O’Melveny Leads Ashford Deal Merging Hotel Management Companies
April 21, 2022
O’Melveny & Myers LLP advised alternative asset management company Ashford Inc. on its acquisition of Chesapeake Hospitality, a hotel management company based in Maryland. Ashord’s portfolio hotel management company, Remington Hotels, is purchasing Chesapeake in an up to US$26 million cash and stock agreement. The deal will aid in Remington’s expansion into new Midwest markets, including Pittsburgh, Milwaukee, Detroit, and St. Louis. Following completion of the deal, Dallas-based Remington will manage 121 hotels in 28 states across 25 brands.
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