Atlanta, July 26, 2021 (GLOBE NEWSWIRE) -- Hotel ownership, management and development firm, Hotel Equities (“HE”), announced they have entered into a strategic alliance with The Hotel Group (“THG”), a prominent hospitality development and investment group headquartered in Edmonds/Seattle, Washington. The Hotel Group’s portfolio, predominantly located in the Pacific Northwest, will combine platforms, and create a powerful operations engine that will leverage expansive efficiencies within both companies. The alliance accelerates future growth for both HE and THG through a focus on development and hotel acquisitions.
“The Hotel Group’s high-quality portfolio of properties, their impressive team and commitment to their associates makes them an industry leader,” said HE President and CEO Brad Rahinsky. “Doug and I have been friends for over a decade, and I have always respected what he has built and the way in which he’s done it. We spent many months talking through what a partnership, a marriage if you will, would and should look like. It always came back to the alignment we share in the people and culture side of our business. We look forward to providing additional support and resources to THG as we welcome them into the Hotel Equities family in the coming weeks.”
“We’re excited about our partnership with Hotel Equities who shares in our commitment to empowering associates, enhancing our existing operational efficiencies and adds scale while continuing to offer our unique hands on management style to all our properties,” expressed Douglas Dreher, THG President & CEO. “Together our companies’ reputation in the industry and track record of long-term success, in addition to our shared values, will drive the growth of both entities and our team members.”
“The strategic alliance with Hotel Equities provides us with significant scale in all facets of the company and allows us to leverage best practices in both organizations to achieve greater outcomes to the benefits of both organizations, their clients and associates,” said THG’s Chief Financial Officer, Randy Meyer.
Extensive integration planning began in June and immersion will continue through the fall. HE’s Chief Operating Officer, Bryan DeCort, shared that Hotel Equities will initially welcome 650+ new associates to the team as part of the integration process who will “immediately benefit from HE’s scale, support and best-in-class hospitality and leadership training.” DeCort added, “HE and THG have both historically invested heavily in our people and infrastructure to ensure we are consistently driving improvement across all KPI’s. Our combined platform creates further stability and growth opportunities for our associates and improved results and profitability for our stakeholders.”
With this alliance, HE continues expansion into the Pacific Northwest region.
About Hotel Equities
Hotel Equities (HE) is an award-winning full-scale hotel ownership, management, and development firm with a portfolio of 210 hotels and projects throughout the United States and Canada. Fred Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO. Hotel Equities is an affiliate of 33 Degrees, an integrated management platform combining market knowledge and industry experience across a broad range of CRE assets including office, restaurant, retail, mixed-use and multi-unit residential. For more information on Hotel Equities, visit hotelequities.com.
The Hotel Group
The Hotel Group is a nationally recognized leading hotel management and investment company. Since its inception in 1984, THG has managed and/or owned over 125 properties in 25 states representing over 20 brands, directed the design and construction of 50 new hotels, and completed the acquisition of nearly $200 million in private investment through the Hotel Group Opportunity Funds. For more information on THG and the services it offers, visit thehotelgroup.com.
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