ATLANTA, Georgia—Hotel Equities announced that its founder, Fred Cerrone, has decided to retire effective November 22, 2025, concluding his 58-year career in the hospitality industry. As founder and chairman emeritus, he remains a guiding presence for the firm.
“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 latest news of its merger with Springboard Hospitality, Brad Rahinsky, former president and chief executive officer of Hotel Equities, has assumed the title of co-chairman. Springboard’s former president, Ben Rafter, was appointed Hotel Equities’ chief executive officer earlier this month.
“Fred’s legacy is nothing short of remarkable,” said 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.”
Fred Cerrone’s career is marked by several milestones, including being named Sheraton’s youngest-ever general manager at age 21 and later becoming one of Marriott’s first franchise partners.
“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.”
