Hotel owner, operator and developer, Hotel Equities (HE) has formed a strategic partnership with Trust Hospitality. The collaboration positions HE as the operational engine, facilitating the expansion of its portfolio in the U.S. and into new markets, with heavy emphasis on the Caribbean and Latin America (CALA) region.
The partnership will also empower Trust Hospitality’s principals to focus on cultivating their portfolio and leveraging their longstanding relationships within the CALA regions, according to HE.
“The synergy between our two organizations complement each other’s expertise to create a formidable partnership,” said Brad Rahinsky, president/CEO, HE. “With this level of collaboration and talent, our combined teams are poised to accelerate our growth in CALA rather quickly.”
Trust was founded by industry veterans Richard Millard and Michael Register.
“I firmly believe this partnership will mark our most transformative and impactful endeavor,” said Millard. “Our industry stands on the brink of profound change, and we are committed to playing an integral role in shaping its future. We must nurture the next generation of hotel leaders and elevate existing associates. I am impassioned by our industry’s potential, and now is the time for operators to modernize processes, invest in education and empower our teams for the 21st century. Hotel Equities embodies the vigor, ambition and ethos required to lead this charge, and I am thrilled and humbled to join forces with them. Brace yourselves; our journey has only just begun.”
HE entered the Canadian market in 2016 assuming management of two hotels. Since then, the company has grown its Canada portfolio to 44 hotels spanning coast to coast with a Canadian-led corporate team that supports almost 700 associates. HE has long aspired to explore the CALA markets and the opportunity presented by Trust aligns seamlessly with HE’s vision, according to the company.
“When our team initially entered Canada, we learned quickly that having in-market Canadian-led corporate teams supporting our owners and associates was key to our success,” said Bryan DeCort, COO, HE. “Collectively, we have begun mapping our integration strategy to ensure we thoughtfully support our new operations in the CALA region.”
Joe Reardon, chief development officer, HE, said, “The significance of selecting the right partners cannot be overstated, and we’ve certainly found them in Richard and Michael. Our partnership with Trust Hospitality presents an ideal synergy that is perfectly aligned with our vision and brings our owner-centric hospitality platform and talented F&B acumen to the region.”
The partners shared they are anxious to announce some of the opportunities they have been working toward, with an announcement likely to take place in Q2.
Look for more on this partnership and why Hotel Equities chose to expand through strategic partnerships in the April issue of Hotel Business.
