CHM and Warnick Form Hotel Asset Management Powerhouse
Capital Hotel Management and LA's Warnick+Co have merged to form CHMWarnick. Richard Warnick (bottom left) says the industry is growing increasingly complex and investors are looking for experience. The combined companies have a client portfolio of 54 hotels with 23,000 rooms, representing roughly $8B hotel assets under management on behalf of private equity firms, pension funds, Fortune 500 companies, government entities and more.
The portfolio includes several well known brands, including Four Seasons, Hilton, Hyatt, Marriott, Ritz-Carlton, Trump Hotels and more. The firm also represents the owners of several under-construction hotel projects including the Westin Hotel at Denver International Airport and Marriott Marquis McCormick Plan Chicago. Warnick was already having a solid start to the year, last week being named asset manager of two hotels recently purchased by Chinese investor XLD, including the 1,000-room Los Angeles Airport Marriott.