Hotel Equities and Coakley & Williams Hotel Management formed a strategic alliance in which Hotel Equities will provide operational oversight and national support to all hotels within the Coakley & Williams portfolio.
The alliance provides Coakley & Williams with additional resources, including Hotel Equities’ operational platform, sales and revenue generation expertise, hospitality training platform and proprietary business intelligence tools.
Hotel Equities was founded by Fred Cerrone in 1989. Cerrone today serves as chairman of its board of directors. Brad Rahinsky serves as HE’s president and CEO. As of June 30, Hotel Equities had 16,895 rooms and 155 properties in its portfolio.
“This alliance was primarily driven by a shared vision of values and culture,” said Rahinsky. “Servant leadership to both our guests and our associates is at the heart of everything we do. Our industry-leading teams, tools and training programs will assist the Coakley Williams team in elevating their performance across all [key performance indicators]. The alliance allows Coakley & Williams to stay intact and independent but benefit from Hotel Equities’ tremendous talent pool and industry-leading performance.”
C&W is a third-generation company founded in 1961. Gary Williams serves as C&W’s senior advisor, and his son, Mark Williams, serves as president. Mark Williams will continue to have oversight of the C&W portfolio. As of June 30, the company had 3,383 rooms and 30 hotels in its portfolio.
“Our alliance with Hotel Equities allows us to preserve our name and legacy and that’s extremely important as we continue to grow,” said Mark Williams. “We are creating a more powerful engine together and our clients and associates will immediately benefit from the additional resources made possible through the alliance.”
“We have always been and will continue to be focused on aligning with the right partners and we place a critical emphasis on ensuring we check all boxes starting with culture preservation,” said HE Chief Development Officer Joe Reardon. “We could not be more excited to support and drive C&W’s success and further support their great reputation in the industry. C&W has a proven platform on the REO/special servicer side of the business with deep relationships. This model makes incredible sense as we integrate the regional support from C&W and plug in our processes, relationships, training platform, procurement scale and proprietary systems.”