BOSTON—Pyramid Hotel Group has added 13 full-service and select-service hotels to its management portfolio in the first nine months of 2013. In addition, more than $50 million in renovations have been completed or are underway.
The nine full-service properties add more than 2,690 rooms to Pyramid’s management portfolio. The hotels are owned by five separate investment groups and spread across new and old markets for the company.
Pyramid’s four select-service hotels total 590 rooms throughout the United States. Three are an expansion of an on-going relationship with one of the company’s portfolio investors.
According to the company, it expects an upward trend with four to five additional projects in the planning stage for hotels it manages and asset manages.
Additionally, Pyramid recently received the “Hyatt Franchise Hotel of the Year Award” for the 470-room Hyatt Regency Schaumburg, Chicago. According to the company, it now has received a top award from all five of the major, full-service brand groups and brings the total honors awarded to Pyramid to 24 in the past 10 years.