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Hotel Equities added four new-build hotels in Texas: The Tru by Hilton in Cypress, the Home2 Suites by Hilton in Richmond, the Holiday Inn Express in Katy and the La Quinta Inn & Suites in Spring.
Each of the hotels are owned and being developed by Noble Merchant Properties based in Sugarland, Texas. Three of the hotels are under construction and the Holiday Inn Express will break ground in the summer of 2019.
“We are pleased to partner with this ownership group for the success of the hotels,” Joe Reardon, SVP of business development and marketing for Hotel Equities, said in a statement. “We are thankful to be in a position to be selective with our stakeholders to ensure we are aligned in our core values. We identified this owner as a partner with whom we can build a long-lasting relationship. We see the opportunity to add value in all facets with these hotels. With 26 hotels in Texas and a regional team in Houston, we are able to provide optimum value to predevelopment, construction and quick ramp to market. From build-out and design, to presale, to open and operating, our team’s expertise and oversight ensures success.”
“In addition to considering performance results when exploring management companies, it was important to understand their beginnings and reputation,” Chris Merchant, president of Noble Merchant Properties, said in a statement. “After visiting Hotel Equites’ corporate headquarters in Atlanta, it was clear that they have the CULTURE we were seeking in a partner.”
Hotel Equities is an Atlanta-based full-scale hotel ownership, management and development firm operating more than 100 hotels throughout North America. Frederick W. Cerrone serves as founder and chairman, and Brad Rahinsky serves as president and CEO.