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HP Hotels Acquired by Raines, Founder Becomes President of Operations
Hoover, AL-based hotel management company HP Hotels has been acquired by Raines, a hotel development, management and investment company.
HP Hotels’ principals and executive team have joined the combined company; Kerry Ranson, who co-founded HP Hotels and served as CEO, is now a Raines partner and the company’s president of operations.
“Assets alone will not get Raines to where it needs to be as a company,” said Grey Raines, managing partner of Raines. “With this acquisition we’re also gaining a team of talented individuals who share our values and commitment to providing exceptional hospitality.”
With the addition of HP Hotels, Florence, SC-based Raines now manages 49 properties in eight states across seven brands. As a result of the partnership, Raines adds both its first IHG properties but its first independent assets. The addition of HP Hotels’ independent and soft-branded properties will grow Woven by Raines (a specialized division for boutique hotels) to a portfolio of eight hotels.
- ◦Sale/Acquisition
