Atlanta-based Hotel Equities (HE) announced Kelowna BC-based Braemar Group as its strategic partner to operate six hotels located in British Columbia, Saskatchewan, and Alberta.
The hotel portfolio consists of four premier Choice branded hotels and one Best Western Plus currently open and operating, as well as a TownePlace Suites by Marriott hotel expected to open in Q3 2019.
The hotel portfolio has a combined total guestroom count of 596 and growing, with future development projects in the pipeline. To accommodate Braemar Group’s plans for further portfolio expansion, they partnered with best in class owner, operator, and developer; Hotel Equities. Hotel Equities recently opened a Canadian office encompassing all disciplines including operations, sales and marketing, revenue management and accounting to support their growth in the market.
“We continue to expand our Canadian hotel portfolio with owners with whom we are aligned, who seek a strong managing and development partner,” said Joe Reardon, chief development officer for HE. “We recently celebrated the opening of our Canadian office and, with a regional team in the country, we have the ability to immediately grow revenue and optimize our owner’s top-line and profitability. We look forward to adding value for our new partners at Braemar Group and we welcome the new team of associates to the Hotel Equities’ family.”
Since deciding to shift focus to development and portfolio growth, Braemar Group selected Hotel Equities as the management partner for their hotel assets. The new partnership is expected to facilitate Braemar Group’s portfolio expansion.
“Hotel Equities’ presence in the market was immediately felt through their ability to capture business,” said Rod Hazard, president of Braemar Group. “Their performance results and the impact their culture brings to the communities they serve are both characteristics we were seeking in a partner. The partnership also affords us the ability to offer our associates added benefits and resources, such as continued education through their learning and development programs. We look forward to working with their team of professionals to take our portfolio to the next level.”
