ATLANTA—Hotel Equities recently promoted Joe Reardon to the position of SVP of marketing and business development.
Reardon leads the development team in evaluating market studies, analyzing feasibility and reviewing third party and acquisition opportunities. His responsibilities include working with all major brand development teams in addition to his work with existing and new owners to identify the best use for land acquisitions and for repositioning opportunities.
Hotel Equities now has responsibility for 90 hotels in its 14-state portfolio with representation in 28 brands that include a mixture of select-service, full-service, independent and resort properties.
“Joe’s passion, commitment and results over the last year and a half have been inspiring,” said Brad Rahinsky, president and COO of Hotel Equities. “He continues to elevate the development department and other areas for which he has oversight and responsibilities. His level of energy, follow-through and perseverance to get the job done is peerless. He has been a tremendous addition to the Hotel Equities team and its impressive growth.”
Reardon joined Hotel Equities in the fall of 2013 when the firm held 40 hotels in its portfolio. Since that time, the firm has grown to include a total of 90 hotels in 14 states. The portfolio saw a 14.5% year-over-year RevPAR increase, surpassing its competitive set by 10.3% in RevPAR growth and experiencing its strongest profit margins since the firm’s inception 26 years ago. Last month, Hotel Equities’ partnership with Premier Hospitality added the management of 21 additional hotels in Texas and Oklahoma.
“I am honored to serve Hotel Equities and spearhead the strategic growth of this culture-based organization of seasoned leaders,” said Reardon. “I believe Hotel Equities is one of the best in the business as it relates to adding value quickly to our owners by identifying the right brand in the right market, providing the best top line and bottom line results but most importantly creating a unique and very trustworthy hands-on relationship with our owners and strategic partners.”