Hotel Equities has revealed that its founder, Fred Cerrone, will retire effective Nov. 22, concluding a 58-year career in the hospitality industry. Upon his retirement, he will become chairman emeritus of the company.
Over the last 36 years, Cerrone, known as “Coach” by his team and industry peers, has led Hotel Equities from a single-property operation into one of the industry’s most respected hospitality platforms, with a portfolio spanning the U.S., Canada and the Caribbean and Latin America (CALA) region.
“As I prepare to step away from daily operations, my heart is full,” said Cerrone. “It’s been a joy and a blessing to serve alongside such an extraordinary team. While my role is evolving, my commitment to Hotel Equities remains steadfast. I look forward to supporting our mission in this next chapter as chairman emeritus.”
As part of the planned transition and following the merger with Springboard Hospitality, Brad Rahinsky, former president/CEO, Hotel Equities, has assumed the title of co-chairman. Springboard’s former president, Ben Rafter, was appointed Hotel Equities’ CEO earlier this month.
“Fred’s legacy is nothing short of remarkable,” shared Rafter. “His vision, values and tireless dedication have helped shape not only Hotel Equities, but the broader hospitality industry. As we move forward following our merger, we do so standing on the foundation Fred built—one rooted in integrity, service and a deep commitment to excellence. I’m honored to carry that legacy forward and grateful for the opportunity to continue learning from Fred in his new role.”
Cerrone’s career is marked by industry milestones, including being named Sheraton’s youngest-ever GM at age 21 and later becoming one of Marriott’s first franchise partners. Known for his ability to inspire others and cultivate leaders, he has spent decades championing growth, not just in the business, but in the people behind it, according to the company.
“Fred is more than a founder—he’s a trailblazer, mentor and the compass of this organization,” said Rahinsky. “He built the company on the foundation of servant leadership and his impact is lasting and far-reaching. His influence will continue to shape who we are and how we lead.”
