Hotel Equities forms strategic alliance with The Hotel Group
Hotel ownership, management and development firm Hotel Equities (HE) has entered into a strategic alliance with The Hotel Group (THG), a hospitality development and investment group headquartered in Edmonds, WA. THG’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, according to HE. 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 Brad Rahinsky, HE president/CEO. “Doug [Dreher, THG president/CEO] 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.”
Dreher said, “We’re excited about our partnership with Hotel Equities who shares in our commitment to empowering associates, enhancing our existing operational efficiencies and adding scale while continuing to offer our unique hands on management style to all our properties. 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 CFO Randy Meyer.
Extensive integration planning began in June and immersion will continue through the fall. HE COO Bryan DeCort, shared that his company 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,” adding, “HE and THG have both historically invested heavily in our people and infrastructure to ensure we are consistently driving improvement across all KPIs. 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.