Waterford and Maverick strengthen market position with strategic merger

MAR -0.44%

Waterford Hotel Group and Maverick Hotels & Restaurants have reached a strategic merger to bolster their presence in the market and drive growth.

The combined hospitality management company will have a portfolio exceeding 50 properties across the US. This will increase operational scope and geographic reach, including extensive holdings in Chicago, New England, the Eastern US, South Central states, and the Midwest.

The portfolio now includes a range of property types such as full-service hotels, boutique inns, convention centres, and branded Marriott and Hilton locations.

Waterford Hotel Group chairman and CEO Len Wolman said: “Last year, we set an ambitious goal to reach 50 hotels within two years — a milestone we have now surpassed. This merger marks an exciting new chapter for Waterford and Maverick, strengthening our ability to drive performance, expand recognition, and fuel long-term growth.”

The merger allows the joint company to pursue acquisitions, new management contracts and redevelopment opportunities in key markets.

The newly formed entity also plans to capitalise on an active development pipeline.

The companies have indicated that the merger will result in new opportunities for staff development within the expanded organisation.

Waterford and Maverick noted that employee experience remains a priority following their alignment.

Maverick Hotels & Restaurants founder and CEO Robert Habeeb said: “This merger allows us to build on our collective achievements while unlocking even greater opportunities.

“Waterford's proven track record in hospitality management, combined with our shared commitment to excellence, makes this a powerful combination. We are well-positioned to expand our footprint, strengthen our competitive edge, and create greater value for owners and investors.”

In October, Waterford added two new hotels, Maison Dupuy Hotel in New Orleans and Sheraton Flowood The Refuge Hotel & Conference Center in Mississippi, to its US portfolio.

"Waterford and Maverick strengthen market position with strategic merger" was originally created and published by Hotel Management Network, a GlobalData owned brand.

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