ATLANTA — Considering the headwinds hotel developers are facing, including high construction costs, Grey Raines, CEO and managing partner at Raines Co., said he's looking for properties that have a unique story.
"I think that traditional development is the toughest it's been in my career. So, we're looking for those opportunities. We're looking for that edge that allows us to build new hotels, to renovate old properties, convert," he said during a video interview at the 2026 Hunter Conference. "We're just having to dig a little deeper than we ever have."
The key to crafting the perfect story for a hotel is in the team, Raines said. How much time his company puts into its projects is what sets it apart.
"We start so far in advance to build that narrative and to build a story that the guest will embrace, and that's for everything from interior design to branding to our expertise," he said.
It is this mindfulness that brands sometimes miss, and it leaves money on the table, Raines said.
"Being able to curate the story and truly focus on what the guest wants and needs, it allows us to drive a hotel that really doesn't have a rate ceiling," Raines said.
One example of Raines Co.'s vision for bringing to life storytelling hotels is its recently opened Lantern Hotel Columbia, which operates in a historic fire station that Raines Co. renovated and restored. The hotel also rolled out a unique employment strategy for its on-property team, which consists of about 50% students and 35% individuals with a disability.
"It comes back to the mission," Raines said. "So partnering with the University of South Carolina Life Program, creating opportunities for students with intellectual disabilities, giving them an opportunity within the amazing world of hospitality — not just a job but a career path. And it's not just the impact for the students, it's the impact for their families that make it so powerful."
The city of Columbia is growing a lot, Raines said, and some other markets that he sees a lot of opportunities in include parts of North Carolina and Charleston.
Even with growth on the horizon, it's a challenging environment to develop hotels, Raines said. He's keeping a close eye on what's happening in the world while making sure operations is focused on the basics.
"We pay attention every day to how our world's changing, but at the same time, it's core fundamentals for us. We watch our leverage points, we make sure we have the right partners, the right investors, and again, we're not we're not looking for short-term impact," he said. "Everything we're doing is paying attention to how this affects us long term."
For more from Raines Co.'s Grey Raines, watch the video or listen to the podcast embedded above.