logo
logo

Raines Acquires Hp Hotels To Accelerate Strategic Growth And Expand Property Management Capabilities

Mar 14, 2023•over 2 years ago

Acquiring Company

Raines

Acquired Company

HP Hotels

HotelReal EstateHospitality

Description

Raines, a fully integrated hotel development, management, and investment company, has acquired HP Hotels, a full-service, third-party hotel management company, resulting in operational expansion throughout the southeast and southwestern United States. The financial terms of the transaction are not being publicly disclosed.

Company Information

Company

Raines

About

Raines is one of the leading hospitality management, development, and investment organizations offering a comprehensive approach to its impressive property portfolio and client base. Led by managing partners, Grey Raines and David Tart, the award-winning company is known for its operational experience, success with historic properties, and expertise with the world's leading brands, such as Hilton, Marriott, Hyatt, Choice, IHG and Wyndham. Featuring a variety of properties, including notable boutique hotels, The Foundry Hotel in Asheville, NC and Hotel Florence in Florence, SC, Raines currently has 49 hotels and 5,204 keys throughout the Southeast. Within the Raines organization, a variety of specialty divisions offer curated and strategic programming, including Woven, a boutique hotel sector, and Array, which specializes in commercial real estate and office properties. Raines is headquartered in Florence, SC, with a secondary regional office in Charleston, SC.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed