Hotel Company HHM to Buy Urgo Hotels & Resorts
Photo Caption: A guest room at The Rittenhouse Hotel in Philadelphia, which is managed by HHM. Source: The Rittenhouse Hotel.
Skift Take
Expect more mergers among hotel management companies until there are approximately 10 companies left in North America for the most competitive markets.
HHM, a hotel management and investment company, is acquiring Urgo Hotels & Resorts in a transaction that will boost HHM's portfolio size by almost 30 percent — to about 235 full-service and select-service hotels.
Philadelphia-based HHM didn't disclose deal terms. The acquisition of family owned Urgo is set to close before October.
The deal is less notable for its size than for the trend it represents, namely a steady stream o
