ATLANTA—Atlanta-based Hotel Equities has added four new-build hotels in Texas to its portfolio: Tru by Hilton in Cypress, Home2 Suites by Hilton in Richmond, Holiday Inn Express in Katy, and La Quinta Inn & Suites in Spring. The hotels are owned and being developed by Noble Merchant Properties based in Sugarland, Texas. Three of the hotels are currently under construction and the Holiday Inn Express will break ground in the summer of 2019.
The company says that the addition of this diverse group of hotel brands is a complement to Hotel Equities’ growing Texas portfolio, which currently has 26 hotels. “We are pleased to partner with this ownership group for the success of the hotels,” Joe Reardon, SVP of business development and marketing for Hotel Equities, says. “We are thankful to be in a position to be selective with our stakeholders to ensure we are aligned in our core values. We identified this owner as a partner with whom we can build a long-lasting relationship. We see the opportunity to add value in all facets with these hotels.”
Chris Merchant, president of Noble Merchant Properties, adds, “In addition to considering performance results when exploring management companies, it was important to understand their beginnings and reputation. After visiting Hotel Equites’ corporate headquarters in Atlanta, it was clear that they have the culture we were seeking in a partner.”
Photo: Rendering of new-build Home2 Suites by Hilton-Richmond, Texas
