Century City hotel management firm Warnick + Co. has merged with competitor CHM of Beverly, Mass., to form CHMWarnick, the companies announced Tuesday. The combined company has a client portfolio of 54 properties with 23,000 rooms, representing roughly $8 billion in hotel assets.

CHMWarnick has no dedicated headquarters at this time, according to a company spokesman, who stressed that the firm will have offices throughout Los Angeles, in addition to Boston, Denver, Minneapolis, New York and Phoenix. A statement from CHM said the combined CHMWarnick will be the world’s largest hotel asset management company.

The combined firm’s portfolio includes several local hotels, including the Marriott Los Angeles Airport, the Four Seasons Los Angeles at Beverly Hills, the Sheraton Hotel LAX and the Sheraton Four Points in Santa Monica.