Hotel Equities and Springboard Hospitality have announced a strategic merger that will see Springboard CEO Ben Rafter become CEO of the combined company with Brad Rahinsky, former president and CEO of Hotel Equities, assuming the role of chairman.
The merger was effective May 1. Terms of the deal were not disclosed.
The merger brings together two organizations, each with its own expertise. Hotel Equities’ management portfolio lies mostly in branded, select- and full-service assets, while independent, lifestyle and resort properties compose Springboard Hospitality. The combined company will operate a broad portfolio of properties across the U.S., Canada, the Caribbean and Latin America spanning urban, resort and outdoor destinations.
Hotel Equites operates close to 200 hotels. Springboard Hospitality manages 51 hotels.
“This next chapter for the combined company establishes scale with expanded regional insight and entrepreneurial agility to support owners across every asset class,” said Rahinsky.
“We start with what both companies do best: revenue generation and technology innovation,” said Rafter. “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. 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.”
Al Smith, Hotel Equities’ president of hotel operations, will assume the newly created role of COO and Rob Robinson, executive vice president of Springboard Hospitality, will transition to the role of president of Springboard Hospitality.
