ATLANTA, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Hotel owner, operator, and developer Hotel Equities (“HE”) has formed a strategic partnership with private equity firm PPC Enterprises (“PPC”). The partnership looks to invest in future M&A, Strategic Alliances (SAAs), JV opportunities and acquisitions.
“This partnership creates a uniquely powerful platform for Hotel Equities to further expand our footprint via strategic growth and meaningful investment into our industry leading talent, infrastructure, training and BI tools. PPC’s confidence in HE and our partnership is a strong endorsement of our capabilities. We are honored and excited about what the future holds,” said Brad Rahinsky, President and CEO of Hotel Equities. “I’m proud to say that the principals at PPC share our core values, our passion and commitment to our people and our vision for success.”
The decision to partner with PPC was nearly a full year exercise to ensure we were aligned on all aspects of our business with an emphasis on our people. This week marks the formal commencement of the partnership, reflecting the careful considerations and shared vision for success.
PPC, known for its strategic investments in high-performing businesses, was quick to identify what makes HE a best-in-class operator while also recognizing the potential for robust growth. The partnership will enable HE to accelerate its development pipeline and strengthen its position as an industry leading partner for hotel owners and developers seeking unparalleled performance and returns.
"Hotel Equities has demonstrated a commitment to excellence, innovation, shareholder returns and guest satisfaction," said Thomas Uger, Partner and Head of Business Services for PPC. Ben Salzman, Principal for PPC, added, "We are confident that our partnership will create new opportunities to further improve HE’s industry-leading service and performance, expand capabilities, and enhance their infrastructure. We look forward to achieving new milestones and creating lasting value for their partners."
Both HE and PPC see immense potential for growth through nurturing talent and fostering career advancement opportunities for HE’s people. "Empowering our team members is integral to our success,” said Bryan DeCort, Chief Operating Officer for HE. “We have proven time and time again that by investing in the growth and development of our people, we are investing in the future of the company. It’s unique to find investors aligned in that aspect but it’s always been a non-negotiable for us. PPC’s support will further advance our efforts.”
"This partnership isn't just about financial investment; it's about leveraging synergies, market insights, and strategic foresight to position Hotel Equities for strategic, sustained growth," Joe Reardon, Chief Development Officer for HE, added. "The combined strengths of our organizations create a powerful force, poised to capitalize on new avenues for expansion in many areas across the board.”
Moelis & Company LLC served as financial advisor and Latham & Watkins LLP acted as legal counsel to Hotel Equities. Jones Lang LaSalle Securities, LLC served as financial advisor and Covington & Burling LLP acted as legal counsel to PPC.
About Hotel Equities
Hotel Equities (HE) is an award-winning full-scale hotel ownership, management, and development firm with a portfolio of approximately 300 hotels and resorts throughout the United States and Canada. For more information on Hotel Equities, visit hotelequities.com.
About PPC
PPC is a New York City-based private equity firm, founded by former senior partners of Kohlberg Kravis Roberts & Co. PPC invests in a select group of industries, including Business and Financial Services, Industrial Services and Healthcare Services. For more information, please visit www.ppcenterprises.com.
Media Contact:
Sommer Shiver
VP of Branding & Communications
www.hotelequities.com
sshiver@hotelequities.com
