Real estate investment and hospitality management company Highgate has announced the acquisition of Trust Hospitality’s portfolio of 22 hotels and resorts—totaling nearly 3,100 guestrooms—throughout the U.S., Caribbean, and Latin America. The footprint includes a combination of existing properties and projects currently in the pipeline.
Trust CEO Richard Millard and partner and head of development Michael Register will both join Highgate’s leadership team to guide business development and owner relations efforts in the Caribbean and Latin American markets.
“When deciding who to pass along the company that I founded and spent the past 30 years building, I was drawn to Highgate for their entrepreneurial spirit and strong owner-minded culture,” Millard says. “I look forward to working with Highgate and leveraging the tools and resources they have at their disposal to help the firm expand its footprint in the region.”
“We are thrilled to be partnering with Richard and Michael as we continue to grow in key Caribbean and Latin America countries, and in the destination resort market broadly,” says Highgate principal Richard Russo. “Over the past few months, we have accelerated the pace of Highgate’s growth through individual hotel additions, portfolios additions, and strategic M&A. We will continue to pursue opportunities to collaborate with talented management teams who can benefit from integrating into the Highgate platform, and contribute to our objective of providing best-in-class services, innovated operating capabilities, and a compelling value proposition for our partners and key stakeholders.”
Highgate currently oversees a portfolio of 160 hotels and resorts, with over 45,000 guestrooms, worldwide.
