Hotel Equities and Greenwood Hospitality Form Strategic Alliance Adding 30 Lifestyle, Experiential and Full-Service Properties to Hotel Equities’ Portfolio
Partnership creates a powerhouse organization focused on providing unmatched services to owners and developers
Atlanta, March 17, 2022 (GLOBE NEWSWIRE) — Today, Hotel Equities (“HE”) is pleased to announce the formation of a strategic alliance with Colorado-based Greenwood Hospitality (“Greenwood”). The combined portfolio of HE and Greenwood will be in excess of two hundred hotels. The Greenwood portfolio of thirty hotels spans coast to coast and consists of award winning high-end independent and branded hotels including Marriott, Hilton and IHG.
The alliance combines the unique strengths and resources of Greenwood, a celebrated leader in lifestyle, experiential and luxury hotels, and HE with its successful history of award-winning select and full service hotels. The combination creates a true vertically integrated platform representing all hospitality categories and chain scales. With this alliance, HE and Greenwood will offer industry leading operations, sales and marketing, revenue generation, human resources, development services, and training/development to all of its clients.
“The synergies we share, along with my respect for the Greenwood organization and the principals who have guided the company to become leaders in the lifestyle and full-service space have me excited about what this partnership represents and where it will take us,” said President and CEO of Hotel Equities, Brad Rahinsky. “Scale has always mattered but never more so than today. The combined resources along with the talent and experience that comes together through this marriage creates a peerless force in the industry.”
“We are thrilled about our partnership with Hotel Equities, largely in part because of our aligning company values,” said Principal of Greenwood, Tom Conran. “Hotel Equities bases its company culture on a set of 12 value statements which coincide well with Greenwood’s commitment to taking care of our team, our guests and our investor partners. This partnership provides unparalleled opportunities, resources, and support at a time where those things have never been more important in our industry.”
“Hotel Equities’ focus and commitment to being the industry leader in resort, lifestyle and full-service hotels becomes a reality with this partnership,” said Chief Development Officer of Hotel Equities, Joe Reardon. “Our investment into the full-service space has been rewarded through the creation of this partnership. Without a doubt, this alliance will accelerate our growth and positioning in the lifestyle and resort segments.”
About Hotel Equities
Hotel Equities (HE) is an award-winning full-scale hotel ownership, management, and development firm with a portfolio of over 240 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.
About Greenwood Hospitality Group
Greenwood Hospitality Group strives to be the industry leader among hotel investment and management companies by delivering extraordinary service and superior returns to their investors and hotel owners. Greenwood provides acquisition, repositioning, and management services for full-service upscale hotels. The firm was launched by hospitality industry veterans Tom Conran, Aik Hong Tan, and Bill Kohl. Now in its 13th year, Greenwood is consistently recognized for its partnership and industry excellence. Sustained success has been achieved through the application of resources and individual attention each client receives. As an independent, closely-held company, client and employee/ambassador interests drive each of Greenwood’s strategic decisions.
Attachment
CONTACT: Sommer Shiver, Vice President of Branding & Communications for Hotel Equities [email protected]
Disclaimer: This content is distributed by The GlobeNewswire
