Ashford to Pay $275M for Remington Holdings Management Side

Ashford Inc. of Dallas, TX entered into a definitive agreement to acquire the hotel management business of Remington Holdings LP. The $275-million agreement is expected to close in Q4 2019.

Remington is an independent hotel management company with more than 40 years of experience in the hospitality business. The company provides services for Ashford Hospitality Trust and Braemar Hotels & Resorts, and is owned by Monty J. Bennett and Archie Bennett Jr., Ashford’s chairman and CEO, and father, respectively.

Ashford’s special committee was advised by Janney Montgomery Scott LLC as financial advisor (Morrison & Foerster represented Janney this role). Norton Rose Fulbright US LLP acted as the special committee’s legal advisor for corporate matters, and Locke Lord LLP acted as Ashford’s legal advisor for tax matters. Robert W. Baird & Co., Inc. acted as Remington’s financial advisor, and Baker Botts LLP acted as Archie and Monty Bennett’s and Remington’s legal advisor.

Pictured: Dallas, TX

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