Hotel Equities (HE), a hotel ownership, management, and development company, has announced a strategic partnership with US-based private equity company PPC Enterprises.
This collaboration is set to invest in future mergers and acquisitions (M&A), strategic alliances, joint ventures (JVs), as well as acquisitions.
Hotel Equities said that the partnership aligns well with the companies’ business strategies.
The formal commencement of the partnership is the culmination of nearly a year of planning and evaluating the companies’ shared commitment to growth.
The partnership is further expected to accelerate HE’s development pipeline and enhance its position as a key partner for hotel owners and developers.
Following the latest collaboration, both HE and PPC are now focusing on growth by nurturing talent and creating career advancement opportunities for HE employees.
Moelis & Company and Latham & Watkins provided financial and legal advisory services, respectively, to HE.
PPC’s financial advisor and legal counsel for the partnership were Jones Lang LaSalle Securities and Covington & Burling, respectively.
Hotel Equities president and CEO Brad Rahinsky said: “This partnership creates a uniquely powerful platform for Hotel Equities to further expand our footprint via strategic growth and meaningful investment into our industry-leading talent, infrastructure, training and BI [business intelligence] tools. PPC’s confidence in HE and our partnership is a strong endorsement of our capabilities.”
Based in New York City, PPC was founded by former senior partners of Kohlberg Kravis Roberts & Co.
The company invests in various sectors including business and financial services, industrial services, and healthcare services.
Meanwhile, HE has a portfolio of approximately 300 hotels and resorts across the US and Canada.
PPC principal Ben Salzman said: “We are confident that our partnership will create new opportunities to further improve HE’s industry-leading service and performance, expand capabilities, and enhance their infrastructure. We look forward to achieving new milestones and creating lasting value for their partners.”
Last August, HE entered a strategic partnership with Maximum Hospitality, a hotel operator, developer and investor, to improve the management of Maximum’s hotel portfolio.
