Raines, a hotel development, management, and investment company, has announced the addition of two properties to its management portfolio.
The expansion includes Springhill Suites Cheraw in Cheraw, South Carolina, and Hilton Garden Inn University District Greenville in Greenville, North Carolina, according to a press release of Raines posted on Hospitalitynet.org.
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These two properties are majority-owned by private, boutique investment company Co-X Holdings.
Co-X Holdings co-founder Paul Adkison said: “Raines is simply the best at what they do.
“They’re known for maximising ROI for owners while also delivering memorable guest experiences, all while strategically growing their own portfolio of properties, and their command of the Southeast is unmatched. All of this and more is why we put them at the helm of these properties.”
A 102-key hotel, the Springhill Suites Cheraw offers amenities such as complimentary breakfast, guest laundry, a fitness centre, an outdoor pool, and an on-site restaurant.
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By GlobalDataIt also features a restaurant, Dizzy’s Bar and Grill, which pays homage to the renowned jazz musician Dizzy Gillespie.
Planned to be opened later this year, the Hilton Garden Inn University District Greenville marks Raines’ inaugural venture in the Greenville market.
Located within walking distance of Eastern Carolina University, the hotel will feature 101 guestrooms, a meeting space, a fitness centre, a sundry shop, and a rooftop bar and restaurant.
Being developed by Clarendon Properties, the property will stand as the tallest building in downtown Greenville upon completion.
Raines managing partner Grey Raines said: “We are thrilled to welcome these two properties into our management portfolio following a milestone year.
“Our strong presence in the Southeast, deep experience with F&B outlets, and strong momentum made us the perfect fit for these properties. We look forward to expanding our presence in the region and continuing to maximise returns for the properties we oversee.”
Last year, Raines acquired HP Hotels, a full-service, third-party hotel management company, for an undisclosed amount.
Raines also opened the Waynesville Inn & Golf Club and launched another property.
Raines’ current portfolio includes 49 hotels and 5,204 keys across the southeastern US.
