ATLANTA, March 17, 2022 (Globe Newswire) — TODAY, Hotel Equity (“HE”) located in Colorado. is pleased to announce the formation of a strategic alliance with Greenwood Hospitality (“Greenwood”). HE and Greenwood will have a combined portfolio of over 200 hotels. The Greenwood portfolio of thirty hotels spans coast-to-coast and includes award-winning high-end independent and branded hotels, including Marriott, Hilton and IHG.
The alliance combines the unique strengths and resources of Greenwood, a renowned 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 their clients.
“My respect for the Greenwood organization, as well as the synergy we share, and the principals who have guided the company to become a leader in the lifestyle and full-service space, excite me to see what this partnership represents. And where will it take us,” said Brad Rahinsky, president and chief executive officer of Hotel Equities. “Scale always matters but never more than today. The resources combined with the talent and experience that come together through this marriage create an unparalleled force in the industry. ,
“We are thrilled to partner with Hotel Equities, primarily because it aligns with our company’s values,” said Greenwood Principal Tom Conran. “Hotel Equities bases its company culture on a set of 12 value statements that coincide with Greenwood’s commitment to caring for our team, our guests and our investor partners. This partnership is a unique opportunity, a resource at a time like this. and provide support when 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 Hotel Equities Chief Development Officer, Joe Reardon. “Our investment in the full-service space has been rewarded through the creation of this partnership. There is no doubt that this alliance will accelerate our growth and positioning in the lifestyle and resort segment.
About Hotel Equity
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 President; Brad Rachinsky serves as chairman and CEO. Hotel Equities is an affiliate of 33 Degrees, an integrated management platform that combines market knowledge and industry experience across a wide range of CRE properties, including office, restaurant, retail, mixed-use and multi-unit residential. For more information about 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 providing exceptional service and superior returns to its investors and hotel owners. Greenwood provides acquisition, restoration and management services for full-service upscale hotels. The firm was launched by hospitality industry veterans Tom Conran, An Hong Tan and Bill Kohl. Now your 13. Inth Greenwood is consistently recognized for its partnerships and industry excellence. Consistent success has been achieved through the use of resources and individual attention to each customer. As an independent, close-knit company, the interests of clients and employees/ambassadors drive each of Greenwood’s strategic decisions.
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