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O’Melveny Leads Ashford Deal Merging Hotel Management Companies

April 21, 2022, 10:55 AM

O’Melveny & Myers advised Ashford Inc., a Dallas-based alternative asset management company, on its portfolio hotel management company Remington Hotels’ acquisition of Chesapeake Hospitality, a hotel management company based in Maryland.

Dallas-based Remington is buying Chesapeake in an up to $26 million cash and stock deal that expands Remington’s footprint into new Midwest markets, including Pittsburgh, Milwaukee, Detroit, and St. Louis.

Upon completion of the transaction, the combined company, operating under the Remington brand, will manage 121 hotels in 28 states across 25 brands, including 19 independent and boutique properties, according to a statement.

The deal also diversifies Remington’s client ...