ATLANTA, GA—Hotel Equities, based here, has formed a joint venture with Raleigh-based Alliance Hospitality to create a portfolio of 55 hotels with a room count exceeding 6,500 in 14 states.
Brad Rahinsky, COO, Hotel Equities, will set the firm’s strategic path, according to the joint venture. Corporate headquarters will be located here, with regional offices remaining in Raleigh, NC.
Fred Cerrone, president/CEO, Hotel Equities, stated, “In all of my years in the hospitality industry, this joint venture made great sense and is a true win-win, not only for both organizations, but also for our associates, owners and investors. With a platform of over 24 hotel brands in 14 states, we have great leverage for growth in the hotel real estate space over the next several years.”
Rolf Tweeten, president/CEO, Alliance Hospitality, said in a statement, “This partnership created a powerful hospitality organization that allows owners and developers the ability to grow with a seasoned group of owner operators who truly understand what is critical in managing, developing, and growing hotel assets.”
“The joint venture allows us to create incredible efficiencies and cost containment through economies of scale,” stated Rahinsky. “Our professional training department and our brand relationships and expertise have allowed us to differentiate ourselves in the industry.”