Raines has added the Fairfield Inn & Suites by Marriott Pensacola (Fla.) West I-10 to its portfolio of hotels. This deal is the fully integrated development, management and investment company's first property in Florida. Season 21 owns the property.
“Being a major force in hospitality in the Southeast, Raines has had its eyes set on expanding to Florida for a while now,” Raines Managing Partner Grey Raines said in a statement. “We were waiting for the right property and partner, and we found both in this latest deal. We are thrilled to be working with Season 21’s leaders and appreciate the opportunity.”
This is the first time Season 21 and Raines are doing business together. Season 21 approached Raines about managing the Fairfield Inn & Suites after the company's leaders met for the first time earlier in the year.
With the addition of the newly opened property, Raines has 22 properties in its portfolio, nine of which are Marriott properties, including two other Fairfield assets. This property is the company's sixth third-party management agreement.
The 87-room property is a short drive from Pensacola Bay Center, National Naval Aviation Museum, Saenger Theater and downtown Pensacola. Upgrades to the guestrooms and public spaces and improvements to the property’s curb appeal are expected.