LOS ANGELES—CHM and Warnick + Co. have merged together to form CHMWarnick, the world's largest hotel asset management company. The combined company has an asset management portfolio of 54 properties, totaling 23,000 rooms, and valued at $8 billion.
According to Richard Warnick of the Warnick + Co., the evolving hotel asset industry today requires delivering the best possible service to clients, and the best strategy to accomplish that and move to the next level was to combine the two firms. Now, the combination of the two companies' creates a truly national platform with clients including private equity firms, pension funds, Fortune 500 companies, government entities and sovereign government funds. The company's portfolio includes two Marriott hotel assets in Los Angeles recently purchased by Chinese investor XLD Group. The company did not respond to a request for additional comment.
The leaders of the new firm expect that CHMWarnick will grow to a portfolio of 100 hotels or more in the next five years. To accomplish this lofty goal, the company has a seasoned team to help accomplish that includes 32 hotel professionals, and 12 team members with 30 years or more industry experience.
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Kelsi Maree Borland
