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Angelo Gordon And Westmont Hospitality Group Acquire Room Mate

Jul 21, 2022•over 3 years ago

Acquiring Company

Angelo Gordon & L.P

Acquired Company

Room Mate

Real Estate InvestmentFinanceReal EstateFinancial ServicesHotelLeisureHospitality

Description

Angelo Gordon, a $50 billion alternative investment firm focused on credit and real estate investing, and Westmont Hospitality Group ("Westmont"), a strategic investment partner and operator, today announced that they have acquired Room Mate, S.A. (“Room Mate” or the “Company”), following the completion of the Company’s financial restructuring.

Company Information

Company

Angelo Gordon & L.P

Location

Park Avenue

About

Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held alternative investment firm founded in November 1988. The firm currently manages approximately $50 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 600 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices in the U.S., Europe, and Asia. For more information, visit www.angelogordon.com.

Company

Westmont Hospitality Group

About

Founded in 1975, Westmont has grown to be one of the largest privately-held hospitality organisations in the world. Since its inception it has operated and held ownership interests in more than 1,000 hotels globally and has a current portfolio of over 500 hotels across North America, Europe, Africa, and Asia. It has alliances with some of the world’s largest hotel brands including Hilton, Marriott, IHG, Hyatt, Fairmont, Four Seasons, LHW, and Choice Hotels. Its portfolio is diversified across 2 to 5-star properties, limited-service to full-service, large conference, aparthotels, boutique hotels, and high-end luxury hotels. For more information, visit www.whg.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed