Springboard Hospitality You can also find out more about the following: Hotel Equities Skift reports that both companies have entered into a strategic merger agreement. This will result in a combined entity managing more than 250 properties throughout the U.S.A. Canada, Latin America and the Caribbean.
Private companies did not disclose financial terms. The deal, which was signed on 1 May, does not need regulatory approval.
The deal combines Hotel Equities’ focus in branded properties and Springboard’s expertise in independent hotels and lifestyle hotels. For the time being, both company names will be kept separate. Ben RafterFormerly CEO of Springboard Hospitality and now CEO of Hotel Equities and Springboard
Rafter said that the merger was not done to create synergies. This merger is different from many other industry consolidations, which focus on size. It emphasizes complementary strengths.
The combined entity offers services to hoteliers, including operations, revenue management and marketing.
Manage Branded Hotels
Hotel Equities, also known as HE by insiders, hires, manages and trains over 11,000 staff at more than 200 hotels. It prides itself on its quality training programs. in collaboration with several schools.
The company is growing steadily. It signed 66 deals in the last year. first new hotel development in the U.S. Virgin Islands in over 30 yearsHampton by Hilton St. Thomas
Marriott has selected Hotel Equities as the management company for its newly acquired Postcard Cabins brand. These properties aim to be unique-looking, minimalistic cabins an hour and half outside major cities.
The Postcard Cabin locations are generally geographically spread out and have only a small number of units.
“The challenge for the operational team will be to efficiently manage all locations,” Rafter said. Hotel Equities, he added, has a wide network of offices. They are also experienced in managing remote operations.
Storytelling Skill
Springboard’s entire identity is built around authentic experiences, not just a token “VP of Lifestyle” as a typical hotel management firm might do to look hip.
In the case of an owner who wants to develop a luxury hotel in a city, inside, for example, a former notary, a typical operator may simply post some Instagram ads acknowledging its history. Rafter’s group goes further, he says. “We would research the entire building’s history.”
To help with marketing, you could stamp each invoice that is given to the customer to echo the historical significance of the building.
Our team would write a guide relevant to the demographic of the area and train the staff at the front desk to memorize the guide so that they could offer suggestions to guests when asked.
Cultural Fit
Brad RahinskyFormer Hotel Equities CEO and President, Al Smith, will now serve as Chairman. Al Smith, Hotel Equities president of hotel operations becomes the brand’s Chief Operating Officer, while Rob Robinson, Springboard Hospitality’s executive vice president, is named president.
Rafter is an expert in growing and selling companies. Amazon purchased Innerlinx. Later called Livebid. Aqua Hospitality was his last hotel company. Marriott Vacations Worldwide bought its 58-property collection.
Rafter replied to a query about possible challenges of cultural integration by stating, “As a tech startup guy myself, I have created a start-up environment at Springboard.” Rafter explained that as management companies expand, it becomes more difficult to maintain agility. We want to have that nimbleness, that entrepreneurial culture.
Rafter stated that “management companies need disruption.” The hotel industry has become a bit boring. We want innovation and the controlled chaos it brings.
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