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A major merger in the hotel sector.
Two local players, Capstone Hotel Management and Marsden Group, are set to merge from April 1st, creating the country’s largest independent hotel platform.
With around 45 properties and 2,500 rooms, the group is positioned to compete directly with big international hoteliers.
Marsden CEO Sajad Bassam has been appointed CEO of the combined group, and told Mike Hosking they had two big local businesses performing well independently, and when they saw the opportunity to create something more powerful, they took it.
He says with international brands expanding into New Zealand, they need the scale of the combined group in order to compete.
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