Dive Brief:
- Arkansas-based Pinnacle Hotel Group’s portfolio and development pipeline will be integrated into Hotel Equities’ management platform as part of a strategic partnership between the two companies, according to a Hotel Equities release obtained by Hotel Dive.
- Effective May 1, 12 Pinnacle-owned properties under brands by Marriott International, Hilton and IHG Hotels & Resorts will be added to Hotel Equities’ management portfolio.
- The strategic partnership builds on a relationship established through the recently opened AC Hotel by Marriott Kansas City Downtown, which Pinnacle owns and Hotel Equities manages. Going forward, the partnership is intended to further strengthen both companies’ “growth and expansion efforts,” according to the release.
Dive Insight:
Hotel Equities will use Pinnacle’s added support and resources to drive performance, enhance guest experiences and optimize operational efficiencies, according to the announcement. Pinnacle, meanwhile, will tap into Hotel Equities’ scale, resources and expertise to support portfolio expansion and create more career opportunities for its team members.
“Hotel Equities offers a scalable future and we’re confident this partnership will drive meaningful results for our hotels, associates, and guests while also creating new opportunities for our team members to grow their careers,” said Chet Patel, principal of Pinnacle Hotel Group, in a statement.
Partnerships are part of Hotel Equities’ growth strategy. Since 2021, the firm has partnered with Colorado-based Greenwood Hospitality, North Dakota-based National Hospitality Services, Tennessee-based Maximum Hospitality, Maryland-based Coakley & Williams Hotel Management, Washington-based The Hotel Group and Florida’s Trust Hospitality.
The Pinnacle partnership “is another example of HE growing smart with the right partners,” said Joe Reardon, chief development officer, in a statement. “We are selective about who we align with and Pinnacle’s strong acumen in developing hotels and their vision for the future is representative of the type of engaged, forward-thinking owner partners we seek.”
Hotel Equities’ portfolio currently spans 300 hotels, resorts and outdoor hospitality destinations across the U.S., Canada, the Caribbean and Latin America.
In 2024, the firm named Eric McCarthy-Zink CFO and Aik Hong Tan chief investment officer.
