Stonebridge boosts presence with Real Hospitality deal

DENVER, Colorado – To better compete in third-party management space, Stonebridge Companies has acquired Ocean City, Maryland-based Real Hospitality Group, creating a portfolio of more than 160 hotels and 24,000 rooms over 20 states in the U.S. Terms of the deal have not been disclosed.

Real Hospitality Group Founder and CEO Ben Seidel will join the Stonebridge team as principal and a member of the firm’s Board of Directors.

Ben Sidel (l.) and Navin Dimond

The combined company will be headquartered in Stonebridge’s office in Denver, Colorado, while maintaining a significant East Coast presence.

Hotel Investment Today reached out to both parties for comment and the only initial response from Stonebridge Founder and CEO Navin Dimond was, “We have a robust pipeline and the combined entity will manage all assets."

In the press release, Sidel said, “This alignment with Stonebridge offers our owners the buying power, support, and resources that have become essential in today’s business and lodging environment while providing the geographical diversity that facilitates our ‘Boots on the Ground’ operating principle.”

Dimond said in the release, “The blending of these two companies will create a dynamic, leading hotel management group that will drive innovation and create exciting growth opportunities for our team members.”

Dimond added that both parties look forward to a seamless integration that will preserve the best aspects of both organizations and foster a culture of collaboration and innovation for its team members.