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Affiliates of Gencom, an international owner and developer of hospitality and residential properties, and Corten, a Mid-Atlantic based private real estate investment fund manager, today announced the closing of a strategic venture with Provenance Hotels, an independent owner of boutique hotels.
Pyramid Global Hospitality today announced the company has closed the acquisition of the operating division of Provenance Hotels, an independent owner of boutique hotels. The transaction adds 12 full-service, independent hotels to Pyramid’s national network of managed properties. In a related transaction, Gencom, an international owner and developer of hospitality and residential properties, acquired a 50% ownership stake in eight Provenance hotels.
The Alexander and Ironworks Hotel Indy were named No. 4 and No. 14 on Conde Nast Traveler's "Top 15 Hotels in the Midwest" list.
Press release content from Business Wire. The AP news staff was not involved in its creation.