Raines acquires HP Hotels

Raines has acquired HP Hotels, a full-service, third-party hotel management company, resulting in operational expansion throughout the southeastern and southwestern United States. The financial terms of the transaction are not being publicly disclosed.

"Assets alone will not get Raines to where it needs to be as a company," said Grey Raines, managing partner at Raines. "In addition to acquiring third-party management contracts, Raines is adding experienced principals, trusted partnerships, and operations, sales and marketing, and human resources teams to its arsenal of experienced hospitality professionals. By selecting, developing and empowering talent diligently, we are positioning ourselves to better achieve our company goals and deliver to our stakeholders."

The acquisition expands Raines' footprint geographically beyond the Southeast, adding properties in the Southwest, including Texas and Oklahoma. As a result of the partnership, Raines adds not only it