From April 1, 45 properties and 2,500 rooms will be managed by the new unified entity.
The merger combines Capstone’s third-party hotel management expertise with Marsden Group’s capital strength and hospitality investment portfolio and will mean more opportunity for meeting organisers.
Marsden Group’s portfolio of five brands includes Marsden Hotels & Resorts, Ramada, Wyndham Garden, Microtel by Wyndham and now Capstone Hotels & Resorts, which has a range of properties from large corporate hotels to luxury lodges throughout New Zealand.
Marsden Group’s existing CEO, Sajad Bassam, has been appointed chief executive of the combined Marsden Group, with founder of Capstone, 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.
“With an enlarged national property portfolio from North to South we can support event planners and conference organisers across more destinations and property types.
“At the end of the day it’s our people who make the difference in meetings and events, and that won’t change but what does change is our scale and reach.
“For our meetings and events clients, this is genuinely good news,” he said.
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,” she said.
