Hotel Equities, the hotel owner, operator and developer, has entered into a strategic partnership with private equity firm PPC Enterprises. The partnership plans to invest in future M&A, strategic alliances, joint venture opportunities and acquisitions.
The partnership will help Hotel Equities further expand its presence through strategic growth and investments in the talent, infrastructure, training and BI tools, Hotel Equities said in a statement.
Based in New York City, PPC was founded by former senior partners of Kohlberg Kravis Roberts & Co. The company invests in a select group of industries, including business and financial services, industrial services and healthcare services.
The decision to join hands with PPC was almost a full-year exercise to ensure the two firms were fully aligned on all aspects of their businesses, with a particular focus on their people. This week marks the formal beginning of the alliance.
“PPC’s confidence in Hotel Equities and our partnership is a strong endorsement of our capabilities. We are honored and excited about what the future holds,” said Brad Rahinsky, president and CEO of Hotel Equities. “I’m proud to say that the principals at PPC share our core values, our passion and commitment to our people and our vision for success.”
The partnership will help Hotel Equities accelerate its development pipeline and strengthen its position as a partner for hotel owners and developers.
Besides financial investments, the partnership is also about leveraging synergies, market insights and strategic foresight to position Hotel Equities for strategic and sustained growth, Hotel Equities said.
“Hotel Equities has demonstrated a commitment to excellence, innovation, shareholder returns and guest satisfaction,” said Thomas Uger, partner and head of business services for PPC.
Moelis & Company LLC served as financial advisor and Latham & Watkins LLP served as legal counsel to Hotel Equities. Jones Lang LaSalle Securities, LLC served as financial advisor and Covington & Burling LLP acted as legal counsel to PPC.