Raines To Operate 16 Assets For Atlantic Hotels Group

The hospitality management, development and investment company, Raines has entered into a joint venture with Atlantic Hotels Group that adds 16 properties to the Raines’ management portfolio and expands the company’s operations into the Texas market.

The new additions to the Raines management portfolio include Hilton, Marriott and IHG hotels in the Dallas and Waco, Texas, markets. Raines has established an office in Dallas and is sharing office space with Atlantic Hotels Group in order to be close to the new hotels and provide a launchpad for further expansion in the region. Several members of the Atlantic Hotels Group executive team will join the Raines team.

This deal was spearheaded by Kerry Ranson, partner and president of operations at Raines, and Perry Molubhoy, CEO of Atlantic Hotels Group. The two men have known one another for the better part of 20 years and had worked together in “multiple peer groups,” as Ranson described it. “Getting to know someone, you start to see similarities as far as beliefs in how things work in our business,” he said. As the COVID-19 pandemic began to ease, the two men began discussion opportunities to work together. “It took two years of discussions and … making sure all those pieces could come together,” he recalled. Seeking a partner with infrastructure in place that could help Atlantic Hotels Group grow the company’s management side, Molubhoy warmed to the idea of collaborating with Ranson.

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