Raines acquires Springbridge Development

Raines, a hospitality management, investment and development group, has acquired SpringBridge Development LLC, a development firm based in Florence, SC.

Following the recent rebrand and services expansion of Raines, this acquisition adds to the group’s in-house development offerings and contributes to its comprehensive approach towards hospitality, commercial real estate and historic rehabilitation services, the company reports. Born of a long-standing partnership, SpringBridge has been providing development services to Raines’ client portfolio since 2013 and, following a seamless transition phase, SpringBridge’s capabilities and offerings are now available under one roof with Raines.

Prior to this acquisition, SpringBridge Development assisted in spearheading the revitalization of the downtown Florence area and the development of Hotel Florence, as well as developing more than 10 select-service hotels across North and South Carolina. Their focus and involvement in historic rehabilitation and construction management are just two aspects of business that Raines is looking forward to absorbing into its portfolio of capabilities, the company reports.