FLORENCE, SC — September 6, 2024 — Raines, a leading hospitality management, development, and investment organization, has added Hotel Theo, a Tapestry Collection by Hilton property, to its management portfolio. Formerly known as Hotel Magnolia, Hotel Theo is now part of Woven by Raines, the lifestyle division of Raines. The property is owned by TCOR Hotel Partners and TriGate Capital.
Located at 535 Gravier Street, New Orleans, LA, 70130, between the French Quarter and the Warehouse District, Hotel Theo is an ideal spot for travelers looking to immerse themselves in the culture of The Big Easy and enjoy key attractions. The property itself also offers historic charm. It was originally built in the late 1800s and has been home to businesses such as an apothecary and bottling operations for Barq’s soft drinks.
Today, the 101-key Hotel Theo offers modern amenities such as luxury linens, customized bulk bathroom amenities, premium high-speed internet, on-site fitness center, and 600 square feet of meeting space. The onsite restaurant, The Lyons Corner, is named for I.L. Lyons & Co., Wholesale Druggists, Importers and Manufacturing Chemists, the first business to be associated with the hotel’s address.
“Adding Hotel Theo strengthens our presence in New Orleans and further accelerates our growth in the Southeast,” said Kerry Ranson, president of operations and partner at Raines. “This project in particular was an ideal fit for our skillset. Our existing presence in New Orleans, our history of successful Hilton transitions, and our focus on the lifestyle sector all coalesced as we worked with TCOR and Trigate on this conversion. Our team can’t wait to begin offering tailor-made experiences to guests at Hotel Theo.”
Raines has added more than 20 properties to its management portfolio since the start of 2024, including 16 hotels in a landmark deal with Atlantic Hotels Group. Raines has been dedicated to holistic, sustainable growth, especially in the lifestyle sector, where they continue to expand their lifestyle division, Woven by Raines. In 2023, the company commemorated its 35th year in the hospitality industry and acquired third-party management company HP Hotels, among other accomplishments.
