Alpharetta, Ga, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Today, Hotel Equities (“HE”) and Coakley & Williams Hotel Management (“C&W”) announced the formation of a strategic alliance whereby Hotel Equities will provide operational oversight and national support to all hotels within the Coakley & Williams portfolio of properties. The alliance provides Coakley & Williams with additional resources, including Hotel Equities’ best-in-class operational platform, industry leading sales and revenue generation expertise, an award-winning hospitality training platform and proprietary business intelligence tools. The combined resources will help to ensure optimized performance across all disciplines while fostering a near 90-year legacy of industry equity between the two organizations.
Both HE and C&W are well-known in the industry for prioritizing culture as a key performance indicator for success, and both companies point to that cultural alignment being the foundation for the new alliance. Hotel Equities was founded by Fred Cerrone in 1989 and Cerrone today serves as Chairman of its Board of Directors. Brad Rahinsky serves as HE’s President & CEO.
“This alliance was primarily driven by a shared vision of values and culture,” said Rahinsky. “Servant leadership to both our guests and our associates is at the heart of everything we do. Our industry-leading teams, tools and training programs will assist the Coakley Williams team in elevating their performance across all KPI’s. The alliance allows Coakley & Williams to stay intact and independent but benefit from Hotel Equities’ tremendous talent pool and industry-leading performance.”
C&W is a 3rd generation company founded in 1961. Today, Gary Williams, second generation, serves as C&W’s Senior Advisor. Williams assumed control of the company in 1996 and shared that his motivation throughout his career has been a desire to create a better workplace for his employees- an ideal shared by HE’s founder Cerrone. On several occasions Cerrone and Williams fought alongside one another championing tough issues in the hotel industry over the years and it’s that shared passion that gives Williams confidence in the new alliance.
His son, Mark Williams, serves as President of C&W and will continue to have oversight of the C&W portfolio. He remains deeply engaged in client relations and focused on continued growth through the alliance with HE.
“Our alliance with Hotel Equities allows us to preserve our name and legacy and that’s extremely important as we continue to grow,” said Mark Williams. “We are creating a more powerful engine together and our clients and associates will immediately benefit from the additional resources made possible through the alliance.”
“We have always been and will continue to be focused on aligning with the right partners and we place a critical emphasis on ensuring we check all boxes starting with culture preservation,” said HE’s Chief Development Officer, Joe Reardon. “We could not be more excited to support and drive C&W’s success and further support their great reputation in the industry. C&W has a proven platform on the REO/Special Servicer side of the business with deep relationships. This model makes incredible sense as we integrate the regional support from C&W and plug in our processes, relationships, training platform, procurement scale and proprietary systems.”
About Hotel Equities
Hotel Equities is an Atlanta-based full-scale hotel ownership, management and development firm with a portfolio of 190 hotels and projects throughout the United States and Canada. Fred W. Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO. For more information, visit www.hotelequities.com.
About Coakley & Williams Hotel Management
Coakley & Williams is the preeminent provider of comprehensive hotel management services with a property portfolio that represents hotel brands such as Hilton, IHG, Choice and Wyndham, as well as, independent boutique hotels, in many of the nation's highest-performing hotel markets. Currently, Coakley & Williams manages over 3,000 rooms with 31 hotels in 10 states and the District of Columbia. These destinations include but are not limited to hotels near the historic Nation's Capital, the sun filled coastal towns of Myrtle Beach and Daytona Beach, and the theme park filled cities in Central Florida. Spanning almost five decades, our hotel management group has garnered a well-earned reputation for maximizing hotel assets through unmatched expertise with quality assurance, targeted marketing and progressive hotel administration systems. For more information contact Mike Lebby, Director of Development at mlebby@cwhotels.com.