Tacoma’s Murano Hotel Gains New Ownership with Sale of Provenance
A recently announced hotel brand takeover means new owners are coming for an iconic Tacoma hotel.
Benchmark Pyramid, with offices in Boston, London, Cincinnati and The Woodlands, Texas, announced this week its proposed acquisition of Portland-based Provenance Hotels.
The deal is expected to close in the second quarter of 2022, according to a statement from Benchmark Pyramid.
The terms of the contract are not disclosed.
The acquisition will add 12 hotel properties, including the Murano Hotel in Tacoma, to Benchmark Pyramid’s portfolio of more than 240 properties in the United States, the Caribbean and Europe.
In addition to Hotel Murano, properties include Hotel Max and Hotel Theodore in downtown Seattle and six hotels in downtown Portland: Hotel Deluxe, Woodlark, Sentinel, Hotel Lucia, Heathman Hotel and Dossier .
Other properties in the deal include Old No. 77 Hotel & Chandlery in New Orleans; Hotel Preston in Nashville; and The Bradley in Fort Wayne, Indiana.
“We couldn’t be more thrilled to welcome the Provenance family to Benchmark Pyramid’s historic portfolio,” said Benchmark Pyramid CEO Warren Fields.
Katherine Durant, President and CEO of Provenance, said in a statement, “This transaction is an exciting milestone for Provenance, our employees and our guests. As part of Benchmark Pyramid, Provenance employees will have access to even greater employment opportunities, and our clients will benefit from the resources of a larger organization with a global portfolio of properties.
Included in the deal, Provenance founder and chairman Gordon Sondland will join Benchmark Pyramid’s board of directors.
“Together, we have great opportunities for growth, and I look forward to remaining engaged with the company and its world-class management team as a member of the combined company’s board of directors,” Sondland said in a statement. communicated.
Sondland made headlines in 2019 as a key figure in the impeachment inquiry into former President Donald Trump’s dealings with Ukraine when Sondland served as US Ambassador to Ukraine. European Union.
Provenance, the company founded by Sondland, also faced tough times amid the pandemic, with several locations including the Murano Hotel becoming non-operational for some time.
According to Benchmark Pyramid, the transaction “is ready to close with the consent of the lender, which all parties expect to receive promptly.”
Benchmark Pyramid was formed in 2021 by the merger of Benchmark Global Hospitality and Pyramid Hotel Group.
This story was originally published April 19, 2022 12:07 p.m.