Real estate investment and hospitality management company Highgate has assumed management of the portfolio assets of Trust Hospitality.
The portfolio, which consists of 22 hotels and resorts with about 3,100 rooms, throughout the US, Caribbean and Latin America, includes a combination of hotels and resorts that are existing and under development.
With the latest transaction, Highgate will be able to increase its footprint in the Caribbean and Latin America.
Trust Hospitality CEO Richard Millard and Partner/Head of Development Michael Register will join Highgate to lead business development and owner relations efforts in the region.
Highgate principal Richard Russo said: “We are thrilled to be partnering with Richard and Michael as we continue to grow in key Caribbean and Latin America countries, and in the destination resort market broadly.
“Over the past few months we have accelerated the pace of Highgate’s growth through individual hotel additions, portfolios additions, and strategic M&A.”
Trust will leverage the benefits of Highgate’s scale to grow its presence across branded as well as independent hotels.
Russo further added: “We will continue to pursue opportunities to collaborate with talented management teams who can benefit from integrating into the Highgate platform, and contribute to our objective of providing best-in-class services, innovated operating capabilities, and a compelling value proposition for our partners and key stakeholders.”
Highgate currently operates 160 hotels and resorts, and more than 45,000 rooms across the globe.
Highgate chief operating officer Steve Barick said: “As the hospitality industry focuses on recovery, we recognise and are grateful for the opportunity to thoughtfully continue our expansion.”