Member News: Suntex Marinas Acquires
By: MIASF Staff
Date posted: May 04, 2022 Wed
Suntex Marinas announced that it completed its integration with Westrec Marinas after a February merger that was valued at $2.5 billion, according to The Wall Street Journal.
“To project forward a year or two, I would hope that this transaction will be seen as the major catalyst for two things,” Suntex Marinas CEO Bryan Redmond said in a statement. “The first is the creation of the first true experiential-based brand in the marina space. … In addition, after incorporating the Westrec team, we hope that our combined company cultures will attract the best and brightest looking to make a career out of doing what they love and help market a career in marina management across the entire hospitality industry.”
According to the statement, Suntex has transitioned Westrec’s leadership team and employees to its payroll system and is rebranding Westrec properties, including updated logos, signage and websites. Capital spending projects throughout the Westrec portfolio have been identified and are currently in the planning stages.