PROVIDENCE – Newport Hospitality Inc. has been acquired by Boston-based Corinthian Events LLC, the special-events companies announced Thursday.
The acquisition coincides with the retirement of Newport Hospitality President Laurie Z. Stroll.
Both companies will continue to operate under their respective names for now, but Newport Hospitality will operate under Corinthian Events, which is led by co-CEOs Courtney Church and Jill Tate.
“When Laurie approached us to discuss her retiring from the business, we did not hesitate to engage in a conversation, despite the pandemic’s effect on our world and industry,” said Church. “We already had an amazing synergy between our firms, so it made perfect sense to join forces to further expand the reach of both companies.”
The combined entity will have 14 total employees, with two employees in Newport, Cheryl Twiss and Emily Manocchio, who will receive support from the company’s Boston team.
The company said that it hopes to bring back more staff to both firms as events and gatherings resume following the downturn caused by the COVID-19 pandemic.
“After years of building a successful company, I am proud of what we have accomplished and it is important to me to see the Newport Hospitality legacy continue to thrive,” said Stroll. “I believe there is no better team to make that happen than Corinthian Events. Both firms share similar values and have been part of the prestigious DMC Network, a global consortium of destination-management companies that adhere to the highest set of standards and best practices representing over 100 destinations globally.”
Terms of the deal were not disclosed.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenhiem@PBN.com.
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