Businessmen Kevin and Scott Plank have sold their ownership interest in the Sagamore Pendry, a luxury hotel in Baltimore’s historic Fells Point, according to a company spokesperson. The deal was completed Wednesday.
Kevin and Scott Plank have sold their ownership interest in the Sagamore Pendry, a luxury hotel in Baltimore’s historic Fells Point, according to a company spokesperson. The deal was completed Wednesday.
Sagamore Pendry, at 1715 Thames St., opened its doors in 2017. It was originally backed by Kevin Plank, founder of Under Armour and owner of investment company Sagamore Ventures, as well as his brother, businessman Scott Plank, and hospitality management company Montage International. The Baltimore fixture joined an international chain of Pendry Hotels when, according to a Sagamore spokesperson, the Planks “shared their desire to build a one-of-a-kind, luxury hotel in the heart of Baltimore.”
Kevin Plank recently stepped back in as CEO of Under Armour after a four-year hiatus and, according to a message from a spokesperson to The Baltimore Sun, decided to “hand over ownership and operations” in service of his “primary obligation and focus” to the athletic apparel company. He and his brother, the message said, “are looking forward to directing their energy and time to other endeavors.”
“I am immensely proud of what we have brought to life and how our investments have continued to support the creation of a more dynamic, welcoming city, which now welcomes more than 27 million visitors annually,” Kevin Plank said in a statement to The Sun. “It has been an amazing experience and, with my continued focus on leading Under Armour, I am excited to pass the torch to [Montage and Pendry] as they guide Pendry Baltimore into its next chapter.”
“It has been deeply rewarding that the Sagamore Pendry Hotel has become such a vital part of Fells Point and the waterfront,” Scott Plank said. “With pride, I hand the reins over to the Pendry team, who I know will continue to honor both the hotel and the city we love.”
The spokesperson said the Planks have “great confidence” in the Montage and Pendry teams to “honor and elevate” their “original vision” for the hotel.
“Our collaboration with Kevin and Scott Plank has been a true honor, and we are deeply grateful for their vision and confidence in Pendry to bring an extraordinary hotel experience to life at the historic Rec Pier,” said Alan Fuerstman, founder, chairman and CEO of Montage International. “We look forward to continuing to serve as an integral part of Baltimore’s vibrant community.”
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