In yet another move among hotel managers to generate scale and better compete for deals, Atlanta-based owner-operator Hotel Equities has formed a strategic alliance with Greenwood Village, Colorado-based investor-operator Greenwood Hospitality Group to create a combined portfolio of more than 200 hotels.
The alliance combines Greenwood’s strength in the lifestyle, experiential and luxury segments with Hotel Equities track record in the select- and full-service categories. Currently, Greenwood’s portfolio consists of 30 independent and branded hotels across the U.S. The closely held company was started 13 years ago by hospitality industry veterans Tom Conran, Aik Hong Tan and Bill Kohl.
“Scale has always mattered but never more so than today,” said Hotel Equities President and CEO Brad Rahinsky. “The combined resources along with the talent and experience that comes together through this marriage creates a peerless force in the industry.”
Rahinsky told HOTELS, “The partnership with Greenwood accelerates our plans around the full-serve, lifestyle space. Their experience, talent and results within that segment along with our scale, operational expertise and industry leading training programs creates a lifestyle division within Hotel Equities that’s well positioned to outperform the organizations that play in the full-serve, lifestyle space.”
The move gives Hotel Equites, with some 240 hotels and projects throughout the United States and Canada in its system, a step up into higher-tiered hotels. “Without a doubt, this alliance will accelerate our growth and positioning in the lifestyle and resort segments,” said Hotel Equities Chief Development Officer Joe Reardon.