Scarlett Hotel Group and Everwood Hospitality Partners have formed a strategic partnership to leverage their combined resources and knowledge of the hospitality investment and management industry.
Hotel management is merging under the Scarlett brand, while Scarlett principals are joining the Everwood team as principals of the investment practice. Everwood is rebranding to Everwood Capital Partners and will focus on investment, asset management, development and capital deployment.
“Our two companies have incredibly compatible outlooks on the investment process,” said Zio Pekovic, principal, Scarlett Hotel Group. “Together, we have more power to fuel growth for the properties we purchase and manage. This strategic realignment will also allow the combined companies to maximize their individual strengths and pursue new opportunities for growth.”
Amit Govin, principal, Everwood Capital Partners, said, “The partnership of Everwood and Scarlett creates a significant new player in the hotel business. All of us are highly committed to creating robust investment opportunities, as well as unforgettable experiences for hotel guests. Our new partners and our corporate support team have meshed incredibly well over the last several months of integration. This couldn’t have been accomplished without the support of our corporate team members who joined the Scarlett operations team.”
Amit Patel, principal, Everwood Capital Partners, added, “Scarlett’s incredible leadership culture, combined with Everwood’s natural data-driven perspective, will support strong operational synergies.”
The newly combined investment and hotel management entity oversees a total of 17 hotels with 2,534 rooms across the U.S., with several additional properties in the pipeline. The expanded portfolio, which includes franchise names including Marriott International, Hilton, Choice Hotels and IHG Hotels & Resorts, enables Scarlett and Everwood Capital Partners to offer an even broader range of accommodations, setting the stage for continued growth and influence in the industry, according to the companies.
