HOLMDEL, NJ—Hospitality industry veteran, Steve Belmont, will be joining Amdel Associates Inc. as Managing Director of the hospitality, lodging and hotel systems segment effective August 1, 2020.
Amdel Associates is an investment banking and corporate finance firm focused on upper middle market merger and acquisitions. Amdel specializes in bringing unique opportunities to their clients in a variety of industries. Through its Private Equity, Family Office, and Corporate Acquisition relationships, Amdel accesses over $10 billion in equity capital to purchase and/or merge with established companies with EBITDAs in excess of $2 million.
COVID-19 has had immediate, devastating effects on the hotel and travel industry. Companies that have been hit especially hard may be seeking opportunities to maintain a space and survive through this crisis.
“There has always been a lot of opportunity in the hospitality industry. We needed the right person with the right knowledge to help us expand into this segment,” said William Coluccio, CEO of Amdel. “Steve Belmonte has one of the most recognized names and excellent reputations in the industry.”
Belmonte, a 40-year veteran of the hospitality industry, will be using his experience to introduce Amdel to the hotel and lodging industry along with affiliated companies that will benefit the most from investment by Amdel’s clients.
Belmonte expressed his view on the opportunity, “There are a significant number of companies who are and will continue to face a hard road ahead. Now may be the perfect time for a merger, acquisition, or just a solid investment from outside sources to help them continue to achieve their goals. I’ve seen many cycles and there are certainly defining moments in the life of any company where strong creativity is what’s required to continue growth. That can be very exciting for all involved.”
The hospitality industry has seen a fair amount of consolidations in the recent past and has even been increasing the last few years. “The current climate has the potential for significant growth for those companies who are ready to reinvent themselves and reinvest,” said Belmonte.
“We are looking for a broad array of companies within hospitality. It may be a large hotel, a software company, or an FF&E provider. The hospitality industry is so broad, we really needed someone with the right insight and knowledge to know which businesses positioned best to make the right investments for our clients,” Bill expanded.