The merger of Cendyn and Pegasus provides hoteliers with a platform to maximize the direct-booking channel, enhancing the guest experience end-to-end.
Many reasons for a merger between the two companies make the prospect plausible, especially during the current COVID-19 induced economic downturn, during which both companies have experienced significant losses.
Transaction Creates Global Leader in Third-Party Hotel Management
Condor Hospitality announced that its shareholders approved the proposed acquisition by merger of Condor by NexPoint Hospitality Trust.
The combined company will manage a portfolio of more than 1,400 branded and independent properties in 49 states and 20 countries.
The transaction will instantly expand NHT’s geographical footprint and balances NHTs strategic value-add portfolio with durable, core, extended-stay hotels.
Like anything in business, nothing lasts forever. The online travel agency (OTA) world started exactly 20 years ago when Expedia was born inside Microsoft. Expedia, with a valuation of over $10 billion at its spin-off, was the most successful business born inside the software giant.
The new company will operate or franchise more than 5,700 properties and 1.1 million rooms, representing 30 brands from the moderate-tier to luxury in over 110 countries. Customers will now see their Marriott Rewards, Ritz-Carlton Rewards & SPG Status matched across all loyalty programs.