{"id":1004148167,"date":"2016-07-15T07:38:36","date_gmt":"2016-07-15T15:38:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148167"},"modified":"2020-05-18T15:41:33","modified_gmt":"2020-05-18T23:41:33","slug":"benchmark-gemstone-hotels-resorts-have-merged","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/benchmark-gemstone-hotels-resorts-have-merged\/","title":{"rendered":"Benchmark, Gemstone Hotels &#038; Resorts Merge"},"content":{"rendered":"<p><em>By Bogdan Odagescu, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004148168\" style=\"width: 280px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004148168\" data-attachment-id=\"1004148168\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/benchmark-gemstone-hotels-resorts-have-merged\/burt-cabanas-founder-chairman-benchmark-hospitality\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg\" data-orig-size=\"270,270\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;18&quot;,&quot;credit&quot;:&quot;PhotographyByKarenElaine&quot;,&quot;camera&quot;:&quot;Canon EOS 7D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1403215729&quot;,&quot;copyright&quot;:&quot;@RaySakersPhoto&quot;,&quot;focal_length&quot;:&quot;50&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.016666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Burt Cabanas, founder &#038; chairman, Benchmark Hospitality\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Burt Cabanas, founder &#038; chairman, Benchmark Hospitality&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg?w=270\" class=\"wp-image-1004148168 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg\" alt=\"Burt Caba\u00f1as, founder &amp; chairman, Benchmark Hospitality\" width=\"270\" height=\"270\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg 270w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/Burt-Cabanas-founder-chairman-Benchmark-Hospitality.jpg?resize=150,150 150w\" sizes=\"auto, (max-width: 270px) 100vw, 270px\" \/><\/a><p id=\"caption-attachment-1004148168\" class=\"wp-caption-text\">Burt Caba\u00f1as, founder &amp; chairman, Benchmark Hospitality<\/p><\/div>\n<p><strong>Houston<\/strong>\u2014Gencom affiliate <a href=\"https:\/\/www.gemstoneresorts.com\/\" rel=\"nofollow\" target=\"_blank\">Gemstone Hotels &amp; Resorts<\/a> and <a href=\"https:\/\/www.benchmarkhospitality.com\/\" rel=\"nofollow\" target=\"_blank\">Benchmark Hospitality International<\/a> announced that the two entities have merged, creating a company that operates 58 independent properties, most of them located in the U.S.<\/p>\n<p>Burt Caba\u00f1as, the founder &amp; chairman of Benchmark Hospitality, will continue in his role of chairman of the newly-merged company, with Alex Caba\u00f1as holding the CEO position and Jeff McIntyre and Greg Champion sharing responsibilities as co-presidents and co-COOs. Gemstone partner Thomas Prins will serve as managing director, real estate investments.<\/p>\n<p>Gencom\u2014which is led by Karim Alibhai\u2014and Burt Caba\u00f1as will be the principal shareholders. The company will be based in <a href=\"https:\/\/www.commercialsearch.com\/news\/houston\/\" target=\"_blank\">Houston<\/a>, with additional offices in Miami and Park City, Utah.<\/p>\n<p>\u201cThe platform that is being created is robust and in part designed for well-measured growth, something we will take advantage of while at the same time creating great case studies at each of our existing properties,\u201d said Prins in a prepared statement. At the moment, Gemstone and Benchmark are working on a branding strategy, outlining the consolidated company\u2019s future layout and action plan. The partners have not revealed a name just yet.<\/p>\n<p>Almost all hotels and resorts are situated within the U.S., with <a href=\"https:\/\/www.commercialsearch.com\/news\/hotel-durant-acquired-by-gemstone-hotels-resorts-in-27m-deal\/\" target=\"_blank\">California<\/a> (nine) and <a href=\"https:\/\/www.commercialsearch.com\/news\/benchmark-hospitality-adds-new-orlando-resort-to-roster\/\" target=\"_blank\">Florida<\/a> (eight) being the states with the most locations. Colorado, New York and Tennessee each bring three properties to the package, with 12 other states also represented on the new company\u2019s map. The Gemstone-Benchmark merger also brought together 11 private conference center and an asset management portfolio comprising 15 properties. The international portfolio includes assets in Canada, Cura\u00e7ao and Japan.<\/p>\n<p><em>Image courtesy of Benchmark Hotels &amp; Resorts<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new company, which will be chaired by Burt Caba\u00f1as, will operate 58 independent properties, most of them located in the U.S. <\/p>\n","protected":false},"author":740,"featured_media":1004148168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,23891,21742,21785],"tags":[],"class_list":["post-1004148167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-national","category-latest","category-property-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Benchmark, Gemstone Hotels &amp; 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