Equities

Hotel Equities Forms Strategic Alliance with Sethi

Atlanta, Nov. 30, 2021 (GLOBE NEWSWIRE) — Today, Hotel Equities (“HE”) and Sethi Management (“Sethi”) announced the formation of a strategic alliance whereby HE will provide operational oversight, resources, and national support to all hotels within the Sethi portfolio. Hotel Equities began transitioning Sethi’s hotels into its portfolio in late October and will be fully integrated by December 1. 

Sethi is based in Carlsbad, California and has a 40-year history as successful owners and operators of more than 75 businesses across a diversified management portfolio including retail, restaurants and hotels. By combining resources with HE, Sethi’s associates and stakeholders benefit from a powerful operational engine leveraging expansive efficiencies within both companies. The alliance accelerates strategic growth for both HE and Sethi through a focus on hotel development and acquisitions. Sethi’s hotel portfolio consists of award-winning Hilton, Marriott and Hyatt products demonstrating Sethi’s proven leadership in hotel management. 

“We’re honored to partner with a group that has such a stellar reputation within our industry,” said President and CEO of HE, Brad Rahinsky. “JP Sethi has decades of knowledge and experience operating best-in-class hotels led by his commitment to his associates. The alignment we share around servant leadership and investor returns is identical. We are very excited to help grow their portfolio.“

Similar to HE’s company culture largely based on its foundational twelve value statements, Sethi’s excellent reputation can largely be attributed to its own core company values prioritizing open and free communication, guest & associate satisfaction, fair return on corporate investments and growth, and accountability.

“When we consider a strategic partnership, it begins with the ownership, the people, and fully understanding the culture in place today and determining if a strategic alliance makes sense for both organizations,” said Chief Development Officer for HE, Joe Reardon. “This alliance made sense on many levels and allows Sethi to focus energies against acquisitions and development while allowing HE to implement best-in-class systems and processes to drive performance. We could not be more pleased about our growth with Sethi in Southern California which also allows them to further explore opportunities across the United States together with HE.”  

“I am positive that the HE and Sethi partnership will be a strong force,” said Sethi’s COO, Ganisha Sethi. “With our joint knowledge and experience, we will be unstoppable and that excites me beyond words.”

The insight, resources, and strong expertise Sethi brings to the table will continue to help HE grow and strategize in the coming years for their key stakeholders.

About Hotel Equities
Hotel Equities is an award-winning full-scale hotel ownership, management and development firm with a portfolio of 210+ hotels and projects throughout the United States and Canada. Fred Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO. Hotel Equities is an affiliate of 33 Degrees, an integrated management platform combining market knowledge and industry experience across a broad range of CRE assets including office, restaurant, retail, mixed-use and multi-unit residential. For more information on Hotel Equities, visit www.hotelequities.com.

About Sethi Management
The Sethi Family has successfully owned and operated over 75 businesses across a diversified portfolio, which includes convenience stores, hotels, restaurants, tanning salons, and commercial real estate. They specialize in managing hospitality and retail businesses efficiently while optimizing profitability and nurturing loyalty with their investors, franchise partners, guests, and associates. Sethi Management continues to strive for success by building its management structure, developing its executive team, and staying loyal to its values. For more information on Sethi Management, visit www.sethimanagement.com.


        

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Check Also
Close
Back to top button