NEW YORK — Capstone Equities, a New York-based private equity firm, announced that it will self-manage its portfolio of hotels with the launch of Rebel Hospitality.
With the goal of aligning asset financial performance and owner interests, this self-management model epitomizes the investor-centric mindset of Capstone Equities, according to the firm. Rebel Hospitality offers transparency between operations and investment teams with a technology-oriented management platform that can also be applied in partnership with other hotel owners or investors.
Brian Sparacino has been named president and chief executive officer of the newly formed Rebel Hospitality. Sparacino was formerly managing director with Evolution Hospitality, and previously spent more than a decade in various senior leadership roles with Interstate Hotels & Resorts, which included overseeing Blackstone owned portfolios, and creating and leading Interstate’s independent lifestyle division, INTRIGUE Hotels & Resorts.
“The formation of Rebel Hospitality was driven by Capstone’s unwavering passion to be best-in-class asset managers that deliver paramount returns to our investors and partners,” said Josh Zamir, co-founder and managing principal at Capstone Equities. “In conjunction with Brian’s leadership and expertise, we have crafted a powerful management paradigm that leverages unique technologies to achieve peak performance of our assets and those of our partners.”
Rebel Hospitality blends progressive technologies with management excellence to create a one-stop, full-service hospitality management biome spanning operations, revenue management, procurement, human resources, marketing distribution, and investment and development partnerships. The technology, expertise, and fee transparency create a niche hotel management platform that is philosophically aligned with hotel investment strategies.
Rebel Hospitality is launching with a hospitality portfolio that includes 1,100 rooms in New York City, with the Rebel Hospitality platform implemented at The NYMA Hotel and the Hotel @ Fifth Avenue, and additional hotels and partnerships anticipated to be announced in Q2 2021.
As the New York travel industry has been severely impacted by the global COVID-19 pandemic, Capstone moved to secure base business for its New York City assets, ensuring that two properties are currently running at or near 100-percent occupancy rates, with the third significantly out-performing market averages, all while adhering to local, state, and federal safety guidelines for guests and employees.