Update: First Hospitality expands portfolio with acquisition of Hostmark Hospitality Group

CHICAGO — First Hospitality announced a deal on Monday to acquire the majority of hotel management agreements for Hostmark Hospitality Group.

The move will significantly expand First Hospitality’s geographic presence across the country, which will now include more than 70 hotels. It will also expand the company’s collection of restaurants and bars.

David Duncan is president and CEO of First Hospitality.

“This acquisition is a natural step in our growth strategy and aligns us with a family-owned company that shares our values and commitment to excellence," David Duncan, president and CEO of First Hospitality, said in an exclusive interview with Hotel Investment Today. "This strategic move allows us to spread our people-focused culture to new markets, including California, Texas, and Florida, while further strengthening our presence in Midwestern markets.”

This transaction adds 17 hotels with 2,780 keys to First Hospitality’s portfolio. The company now has more than 10,000 keys and 3,200 employees for its entire portfolio of 70 hotels.

In an interview with HIT, the company said the newly acquired hotels feature brands such as Marriott, Embassy Suites, Hampton Inn and Holiday Inn in Chicago, Anaheim, Milwaukee and Tallahassee. 


This acquisition is a natural step in our growth strategy and aligns us with a family-owned company that shares our values and commitment to excellence.
David Duncan
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The transaction is expected to be closed in the early fourth quarter and is subject to customary third-party approvals.

Duncan also said in the release that Jerry Cataldo, president and CEO of Schaumburg, IL-based Hostmark Hospitality Group, will be joining First Hospitality after the transaction is completed.

“We are thrilled to be joining forces with First Hospitality,” Cataldo said in the news release. “This next chapter in our story aligns us with a team that shares our values, our passion, and our dedication to delivering outstanding hospitality management.”