Atlanta, GA – April 29, 2015 – Hotel Equities recently announced its selection as the management firm for a portfolio of 21 hotels located in Texas and Oklahoma. The portfolio is owned by Premier Hospitality Management, Inc. Hotel Equities assumes management on May 1, 2015, taking its overall portfolio to 90 hotels in 14 states.
Raj Patel serves as President and CEO of Premier, a firm he founded 23 years ago. Premier’s portfolio features nine hotel brands and two independent full service hotels totaling 2,166 guest rooms. The portfolio is represented with premium brands such as Marriott, Hilton and IHG.
“We’re excited to announce the partnership we’ve created with industry leader Hotel Equities.” said Raj Patel, President and CEO of Premier Hospitality Management, Inc. “For the past 23 years, we have worked to build a strong portfolio of properties. I am confident that Hotel Equities will take the management of these assets to the next level and that will allow us to focus on future growth and development opportunities.”
With the addition of 21 hotels to its portfolio, Hotel Equities will create a regional office in Texas to support its operators as they oversee each discipline that impacts the business.
“We’re honored to be able to partner with Premier Hospitality,” said Brad Rahinsky, President and COO of Hotel Equities. “Our values and priorities are in alignment. That was a critical component of all discussions and we felt it was key to ensuring both parties’ future success. We’ve been very impressed with what Premier has accomplished over the last 23 years and excited to be chosen as partners. We’re confident in our ability to take the strong platform that Raj and his team have created and elevate those accomplishments to the next level. This partnership will create additional opportunities for our three key stakeholders; our guests, our associates and our investors. We look forward to a long, mutually beneficial journey.”
Hotels represented in the Premier portfolio include; SpringHill Suites in Oklahoma City, OK; the Hilton Garden Inn in Norman, OK; the Hampton Inn in Plano, TX; the Holiday Inn & Suites in Tulsa, OK; The Norman Hotel in Norman, OK; and the Hotel At Wichita Falls in Wichita Falls, TX.
“We are excited to work with Raj as he continues to grow Premier,” said Joe Reardon, Vice President of Marketing and Business Development for Hotel Equities. “He has proved his ability to identify the right market, the right location and the right brand to put together successful deals. Our new partnership will allow Raj to focus on his passion that is development, while we create additional value in the existing portfolio and in new opportunities.”
