Hotel Equities and Springboard Hospitality have merged operations and portfolios.
The strategic merger is effective as of May 1, and both companies will continue to operate under their own names.
Hotel Equities is an Atlanta-based hotel ownership, management and development firm, bringing 200 properties to the mix. Springboard is a third-party management company with headquarters in Los Angeles and Honolulu and has 51 hotels and resorts in 14 states.
The merger combines the companies’ respective and complementary areas of expertise, a news release states. Hotel Equities is known for its management of branded select- and full-service hotels, and Springboard for operating independent, lifestyle and resort properties. Combined, they’ll operate a portfolio of hotels and resorts across the U.S., Canada, the Caribbean and Latin America in urban, resort and outdoor destinations.
Ben Rafter, CEO of Springboard, is now the CEO of the combined company. Brad Rahinsky, formerly president and CEO of Hotel Equities, is the company’s chairman. Al Smith, Hotel Equities’ president of hotel operations, is the chief operating officer, and Rob Robinson, executive vice president of Springboard, will transition to the role of president of Springboard.
“This next chapter for the combined company establishes scale with expanded regional insight and entrepreneurial agility to support owners across every asset class,” Rahinsky said in the news release.
The new company will start with what both do best: revenue generation and technology innovation, Rafter said in the release.
“We’ve earned our reputation by unlocking new revenue opportunities, embracing technology to stay ahead of the curve and tailoring creative solutions for each asset,” he said. “From there, our combined expertise allows us to move faster, think more creatively and deliver long-term value in ways that legacy operators simply can’t.”
The merger creates “meaningful scale” with an expanded regional insight and agility, according to the news release. The company’s services will include operations, revenue management, marketing, food and beverage strategy, capital planning and development.
The company will share further news about hires and expanded services over the coming months as it moves toward the next phase of growth.