Scarlett Hotel Group and Everwood Hospitality Partners Announce Merger
January 12, 2024
CHICAGO, IL and ORLANDO, FL — Scarlett Hotel Group and Everwood Hospitality Partners are excited to announce a strategic partnership to leverage their combined resources and knowledge of the hospitality investment and management industry. According to a press release, hotel management is merging under the Scarlett brand while Scarlett principals are joining the Everwood team as principals of the investment practice. Everwood is rebranding to Everwood Capital Partners and will focus on investment, asset management, development, and capital deployment.
“We’re thrilled to expand our reach in the hospitality industry by merging with Everwood,” said Zio Pekovic, principal of Scarlett. “Our two companies have incredibly compatible outlooks on the investment process. Together, we have more power to fuel growth for the properties we purchase and manage. This strategic realignment will also allow the combined companies to maximize their individual strengths and pursue new opportunities for growth.”
“The partnership of Everwood and Scarlett creates a significant new player in the hotel business,” said Amit Govin, principal of Everwood Capital Partners. “All of us are highly committed to creating robust investment opportunities as well as unforgettable experiences for hotel guests. Our new partners and our corporate support team have meshed incredibly well over the last several months of integration. This couldn’t have been accomplished without the support of our corporate team members that joined the Scarlett operations team,” continued Govin. “Scarlett’s incredible leadership culture combined with Everwood’s natural data-driven perspective will support strong operational synergies,” added Amit Patel, principal of Everwood Capital Partners.
The newly combined investment and hotel management entity oversees a total of 17 hotels with 2,534 rooms across the U.S. The expanded portfolio includes franchise names such as Marriott International, Hilton Hotels & Resorts, Choice Hotels, and IHG Hotels & Resorts. This allows Scarlett and Everwood Capital Partners to offer an even broader range of accommodations, setting the stage for continued growth and influence in the industry.
With offices in Chicago, Charlotte, Nashville, Indianapolis, and Orlando, Everwood Capital Partners is a fully integrated hotel owner, operator and developer that invests along the opportunistic risk spectrum. Everwood provides operational, financial and development services on its own behalf, as well as for third parties. Scarlett Hotel Group — Everwood’s affiliated operating company — drives each hotel’s performance through a growth and development plan created specifically for the property’s key leaders based on their talents and the asset’s particular needs.