Deal closes to create largest locally owned management
company with plans to accelerate growth.
AUKLAND, New Zealand – Capstone Hotel Management and Marsden
Group have completed their merger, creating New Zealand’s largest locally owned
hotel management platform with more than 40 properties nationwide.
The merger combines Capstone's third-party hotel management platform
with Marsden Group's capital and hospitality investment portfolio. The duo
plans to accelerate growth through acquisitions, management agreements, and a
stronger presence across regional and metropolitan markets.
As part of the transaction, Capstone Hotels & Resorts Ltd.
forms part of the enlarged Marsden Group, operating within a unified group
structure. Capstone will continue operating as a distinct brand within the
expanded group, preserving its identity and management philosophy while
benefiting from greater national reach and shared executive capability.
Our growth will focus on targeted acquisitions, expanded management agreements, and new development partnerships in key regional and gateway markets.
Sajad Bassam
Sajad Bassam is appointed chief executive officer of the
combined group, with Capstone Founder Clare Davies retaining an equity stake in
the business and serving as chief operating officer, while also sitting on the
boards of both Capstone and Marsden Group.
Bassam said the merger was about building a platform for
strategic long-term growth in New Zealand. “As international hotel
operators expand into New Zealand, independent platforms need scale to compete
effectively,” he said. “With Capstone, we are creating a stronger, more
scalable group that can pursue opportunities with confidence and deliver
long-term value for our owners and partners. Our growth will focus on targeted
acquisitions, expanded management agreements, and new development partnerships
in key regional and gateway markets.”
Davies said the immediate focus was on people and
integration. “It’s an exciting milestone for our business. Our focus is on
delivering a seamless integration across our systems, people and operating
platforms, ensuring continued performance across the portfolio. For our owners
and guests, this represents a strengthening of capability behind the scenes,
while maintaining complete continuity.”
With a national network of approximately 45 properties and
more than 2,500 rooms under management and investment oversight, the Marsden
Group’s portfolio of five brands includes Marsden Hotels & Resorts, Ramada,
Wyndham Garden, Microtel by Wyndham and now Capstone Hotels & Resorts.