FLORENCE, S.C., March 14, 2023 /PRNewswire/ — Raines, a totally built-in lodge improvement, administration, and funding firm, has acquired HP Resorts, a full-service, third-party lodge administration firm, leading to operational growth all through the southeast and southwestern United States. The monetary phrases of the transaction usually are not being publicly disclosed.

“Belongings alone won’t get Raines to the place it must be as an organization,” mentioned Gray Raines, managing accomplice of Raines. “Along with buying third-party administration contracts, Raines is including skilled principals, trusted partnerships, and operations, gross sales and advertising, and human sources groups to its arsenal of skilled hospitality professionals. By choosing, growing, and empowering expertise diligently, we’re positioning ourselves to higher obtain our firm targets and ship to our stakeholders.”

The acquisition expands Raines’ footprint geographically past the Southeast, including properties within the Southwest, together with Texas and Oklahoma. On account of the partnership, Raines provides not solely its first IHG properties but in addition its first unbiased property. The addition of HP’s unbiased and soft-branded properties will develop Woven by Raines, a specialised division of the corporate offering a singular improvement and administration strategy to boutique lodges, to a portfolio of eight lodges.

“This acquisition is extra than simply including property to our portfolio,” mentioned David Tart, managing accomplice of Raines. “It is about empowering us to execute on our imaginative and prescient, meet our long-term targets, attain new heights, and unlock new alternatives for our staff, buyers, homeowners and strategic companions. With this acquisition, we’re not solely including HP’s experience and capabilities to our portfolio, however we’re additionally gaining a staff of proficient people who share our values and dedication to offering distinctive hospitality.”

HP’s principals and government staff have joined the mixed firm. Kerry Ranson, who co-founded HP and led HP as CEO for a few years, is now a Raines accomplice, serving as the corporate’s president of operations.

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“Just a little over 20 years in the past, I, together with Joe Powers and Mike Hines, based HP Resorts with a imaginative and prescient of working a lodge administration firm dedicated to growing profitable, long-term relationships,” Ranson mentioned. “It offers me nice pleasure to say we completed that and extra. Through the years, with the assistance of outstanding, result-oriented hospitality professionals, we grew our portfolio of branded full-service and select-service properties, unbiased properties, and boutique experiences all through the Southeast and Southwest, and generated vital returns for our homeowners. This acquisition marks a brand new chapter in HP’s historical past, and the corporate’s legacy now lives on by the shared values, rules, and imaginative and prescient we’ve got with Raines.”

With the addition of HP’s lodges, Raines now manages 49 properties in eight states throughout seven manufacturers. Working as Raines, the mixed firm maintains places of work in Florence and Charleston, SC, overseeing day-to-day operations of the whole portfolio.

Entry high-resolution pictures of the corporate’s companions right here.

About Raines 
Raines is likely one of the main hospitality administration, improvement, and funding organizations providing a complete strategy to its spectacular property portfolio and shopper base. Led by managing companions, Gray Raines and David Tart, the award-winning firm is understood for its operational expertise, success with historic properties, and experience with the world’s main manufacturers, resembling Hilton, Marriott, Hyatt, Alternative, IHG and Wyndham. That includes quite a lot of properties, together with notable boutique lodges, The Foundry Lodge in Asheville, NC and Lodge Florence in Florence, SC, Raines at present has 49 lodges and 5,204 keys all through the Southeast. Inside the Raines group, quite a lot of specialty divisions provide curated and strategic programming, together with Woven, a boutique lodge sector, and Array, which focuses on industrial actual property and workplace properties. Raines is headquartered in Florence, SC, with a secondary regional workplace in Charleston, SC.

Media Contact: 
CJ Arlotta
CJ Media Options, LLC for Raines
C: 631-572-3019
[email protected]

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SOURCE Raines