Benchmark Pyramid Acquires Provenance Hotels

Hotel management company Benchmark Pyramid has acquired Portland, Ore.-based hotel company Provenance Hotels, the company announced this week, increasing its portfolio by 12 hotels to more than 240 properties.

Terms of the deal, which the companies expect to close in the second quarter, were undisclosed.

The deal brings six Portland properties into Benchmark Pyramid’s portfolio, including the Woodlark, the Sentinel and the Hotel Lucia, along with two downtown Seattle hotels and properties in Ft. Wayne, Ind., Nashville, New Orleans and Tacoma, Wash.

Provenance Founder and Chairman Gordon Sondland will join Benchmark Pyramid’s board of directors. Benchmark Pyramid was formed last year through the merger of Benchmark Global Hospitality and Pyramid Hotel Group.

Chris Davis  www.businesstravelnews.com