The Boards of Hamilton Hotel Partners, an independent London-based hotel management and investment firm, and Pyramid Hotel Group, a privately-owned full-service hotel and resort company based in Boston have announced that they have completed a transaction that involves the merger of the two businesses.

The merger will create a leading international group that will manage or asset manage a total of 141 hotels with 32,000 rooms across 8 countries, and GBP 5.3 billion (USD 6.88 billion) of assets under management.

The merger will enable Hamilton to leverage Pyramid’s extensive institutional hotel management infrastructure and Pyramid will access Hamilton’s unrivalled hotel advisory, asset management and management experience and track record in Europe.

Post-merger Hamilton will continue to source hotel and resort transactions, co-invest with capital partners and manage hotels and resorts, while drawing on the strengths and experience of the Pyramid team. Both the brands will be retained for the foreseeable future.

Warren Fields, co-founder and CEO of Pyramid, will be the CEO of the combined group, with Frank Croston and Chris Evans continuing in their roles leading the Hamilton business.