In a surge of unprecedented growth, Hotel Equities, an Atlanta-based hotel management and development company, added thirteen hotels to its portfolio in the fourth quarter of 2013. Beginning in early October with the addition of the boutique 4-star Wyvern Hotel in Punta Gorda, Florida, the firm made steady gains that included five La Quinta properties, a Courtyard and six additional hotels from Pennsylvania to Florida.
"We are encouraged by the solid year-end growth we have achieved as well as the development projects that are underway for 2014," said Joe Reardon, Vice President of Marketing and Business Development. "We attribute our impressive growth in 2013 to the performance of our portfolio. Our hotels surpassed their comp sets and delivered strong profitable gains to our ownership groups."
To manage the aggressive growth, Hotel Equities has reorganized its corporate structure under Brad Rahinsky, Chief Operating Officer, with the addition of multiple executive positions including two Vice Presidents of Operations and a Vice President of Talent and Administration. The firm hired outside talent, promoted veterans from within and filled those posts to complete a team of seasoned industry professionals with the skill sets and vision to assure success.
"We have streamlined our organization and put a passionate, award-winning team in place so that we can capitalize on the opportunities available in today's marketplace," said Mr. Rahinsky. "By expanding Hotel Equities and taking it to the next level, we leverage our current success and serve our investors, our associates and our guests."
"During the upcoming ALIS conference (the America's Lodging Investment Summit), we will have the pleasure of sharing additional iconic news related to our growth and development along with other successes with industry leaders interested in partnering with Hotel Equities," added Mr. Rahinsky.
Hotel Equities plans a special announcement next week regarding a major company milestone plus details about an extraordinary development project.
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