Waterford Hotel Group, a hospitality management company located in Connecticut, and Maverick Hotels & Restaurants, a hotel developer and operator located in Chicago, have merged in a strategic partnership to accelerate growth, enhance operational efficiencies and drive long-term value for hotel owners, investors and guests, according to the company.
The combined portfolio now has more than 50 properties, adding to the combined company's position as a leading hospitality management firm and preparing for expansion.
“Our intention is to continue operating Waterford Hotel Group and Maverick Hotels & Restaurants side by side as we begin a thoughtful integration over the next year," Len Wolman, chairman and CEO of Waterford Hotel Group, told Hotel Management. "The leadership teams of both organizations will remain fully in place, with no leadership changes planned as part of this merger. Throughout this process, our teams will work collaboratively to determine the best way to fully integrate the companies in a manner that is minimally disruptive and focused on creating meaningful value enhancement for our combined owners. At the same time, we remain committed to supporting our associates and positioning the organization for long-term growth. We look forward to the future we are building together."
"Last year, we set an ambitious goal to reach 50 hotels within two years — a milestone we have now surpassed," Wolman said in a statement. "This merger marks an exciting new chapter for Waterford and Maverick, strengthening our ability to drive performance, expand recognition, and fuel long-term growth."
Maverick properties span New England to the Midwest, with a significant concentration in Chicago. Waterford already has a well-established presence in the Eastern U.S. and a growing footprint in the South Central and Midwest regions. The newly added properties complement the company's existing portfolio, which includes full-service hotels, convention centers and boutique inns. Notable additions include premium Marriott and Hilton-branded hotels and New England inns, further diversifying Waterford's managed properties.
With a strong development pipeline, the company is actively pursuing new acquisitions, management contracts and redevelopment projects in high-demand markets.
"This merger allows us to build on our collective achievements while unlocking even greater opportunities," said Robert Habeeb, founder and CEO of Maverick Hotels & Restaurants. "Waterford's proven track record in hospitality management, combined with our shared commitment to excellence, makes this a powerful combination. We are well-positioned to expand our footprint, strengthen our competitive edge, and create greater value for owners and investors."