Remington names Ben Perelmuter as CEO

Editor's note: Updated with new quote from Perelmuter.

DALLAS — Remington Hospitality has hired Ben Perelmuter as its new CEO, effective June 2.

Perelmuter has nearly three decades of industry experience and joins Remington from McKinney, Texas-based TPG Hotels & Resorts, where he served as president and COO. He also spent over 15 years at Plano, Texas-based Aimbridge Hospitality, where he advanced from general manager to divisional president. Perelmuter succeeds Sloan Dean, who served as CEO at Remington for eight years and in April announced he was leaving the role. 

“I couldn’t be more excited to lead the Remington team and continue the journey that Sloan has paved,” Perelmuter told Hotel Investment Today. “Remington is in my backyard here in Dallas and the ramp for this will be lightning quick and turnkey. We are positioned very well to drive growth in third-party operations, while using my operations experiences to focus on day- to-day performance for our owners, investors and stakeholders.”

Under Dean’s leadership, the company significantly expanded its third-party management portfolio. Remington said Dean will work closely with Perelmuter over the coming weeks as part of the transition.

“This transition marks an exciting new chapter for Remington Hospitality,” said Monty Bennett, CEO and chairman of the board for Dallas-based, Ashford, Inc. — the parent company of Remington Hospitality (as well as REITs Ashford Hospitality Trust and Braemar Hotels & Resorts). “Ben’s energy, passion for hospitality, and focus on performance align perfectly with our vision for the future. I’m confident in his ability to build on our momentum and lead the company forward with a focus on people, purpose, and profits.”

Remington’s growth

Remington manages 135 hotels in 27 states and Washington, D.C., across 33 brands, including 16 independent and boutique properties. Remington’s Chief Development Officer Keith Oltchick told Hotel Investment Today in early May that Sloan’s departure wouldn’t change the company’s strategy or trajectory. 

The company has been growing in the Caribbean and Latin America with eight hotels in the region and in February announced the addition of ONE | GT in Grand Cayman in the Cayman Islands, which is scheduled to open in November as a luxury urban residential hotel.

Oltchick also told Hotel Investment Today that after acquiring Chesapeake Hospitality in 2022, the takeaway has been that unless an irresistible acquisition opportunity comes its way, Remington’s growth will come organically.

“It’s very difficult to value a management company and the contracts and relationships they have with their ownership groups,” Oltchick said. “So, there’s been a pretty big spread in the multiples that people are looking for versus what we would be willing to pay… We haven’t really found a group that we would like to acquire or that is strategic enough for us to go down that path. So, for now, we’re continuing to grow the way we want to grow with our existing partners and new opportunities that the team uncovers.”