Dive Brief:
- Hospitality management company Raines added the rebranded Hotel Theo in New Orleans to its portfolio, bolstering its lifestyle holdings, the company announced Monday.
- The Tapestry Collection by Hilton property, formerly Hotel Magnolia, is now part of Woven by Raines, the management company’s lifestyle division that launched in 2021.
- With the hotel, Raines continues its focus on “holistic, sustainable growth, especially in the lifestyle sector,” according to the company. Florence, South Carolina-based Raines joins other hospitality companies expanding in the fast-growing hotel segment.
Dive Insight:
Situated between New Orleans’ French Quarter and Warehouse District, Hotel Theo offers 101 guest rooms with modern finishes and amenities including a fitness center and 600 square feet of meeting space. The historic property also includes The Lyons Corner restaurant, named after I.L. Lyons & Co., Wholesale Druggists, Importers and Manufacturing Chemists, the first business associated with the property’s address.
Raines adds Hotel Theo to a management portfolio spanning upwards of 50 hotels across the country. The company has brought more than 20 hotels under management since the start of this year alone, including 16 through a deal with Atlantic Hotels Group, according to Hotel Management.
Hotel Theo joins Raines’ lifestyle division, Woven, which launched in 2021 to offer “a full-service approach to operating boutique hotels,” Lodging Magazine reported in March of that year.
Raines is one of several hospitality management companies expanding in the lifestyle sector, as travelers increasingly seek the unique experiences, design and food and beverage offerings found at lifestyle hotels.
In May, First Hospitality added three Hilton lifestyle hotels to its portfolio. Highgate brought several lifestyle hotels under management in January. And last year, Hersha Hospitality Management launched a division dedicated to the luxury and lifestyle segment.
Hotel companies Hyatt and Hilton, meanwhile, have expanded their lifestyle portfolios and pipelines through acquisition in recent months to keep up with changing traveler demand.
