ATLANTA, GA (May 19, 2015) – Atlanta-based Hotel Equities (HE) www.hotelequities.com recently promoted Joe Reardon to the position of Senior Vice President of Marketing and Business Development
Mr. Reardon leads the development team in evaluating market studies, analyzing feasibility and reviewing third party and acquisition opportunities. His responsibilities include working with all major brand development teams in addition to his work with existing and new owners to identify the best use for land acquisitions and for repositioning opportunities. Hotel Equities now has responsibility for 90 hotels in its 14-state portfolio with representation in 28 brands that include a mixture of select service, full service, independent and resort properties.
“Joe’s passion, commitment and results over the last year and a half have been inspiring,” said Brad Rahinsky, President and Chief Operating Officer of Hotel Equities. “He continues to elevate the Development Department and other areas for which he has oversight and responsibilities. His level of energy, follow-through and perseverance to get the job done is peerless. He has been a tremendous addition to the Hotel Equities team and its impressive growth.”
Mr. Reardon joined Hotel Equities in the fall of 2013 when the firm held 40 hotels in its portfolio. Since that time, the firm has grown to include a total of 90 hotels in 14 states. The portfolio saw a 14.5% year-over-year RevPAR increase, surpassing its competitive set by 10.3% in RevPAR growth and experiencing its strongest profit margins since the firm’s inception 26 years ago. Last month, Hotel Equities’ partnership with Premier Hospitality added the management of 21 additional hotels in Texas and Oklahoma.
“I am honored to serve Hotel Equities and spearhead the strategic growth of this culture-based organization of seasoned leaders,” said Mr. Reardon. “I believe Hotel Equities is one of the best in the business as it relates to adding value quickly to our owners by identifying the right brand in the right market, providing the best top line and bottom line results but most importantly creating a unique and very trustworthy “hands-on” relationship with our owners and strategic partners. I am excited to continue this mantra with an aggressive growth platform going forward.”
“I think we have created the best-in-class development organization with our CIO Dennis Meroney, VP Financial Analysis; Jeff Shockley, VP of Acquisitions and Financial Analysis; and Garfield Campbell, Regional Director of Development,” continued Mr. Reardon. “Our full service development platform assists our owners in sourcing the cap stack for a project, in providing realistic, data-driven analysis and in getting the right brand in place. We currently have over seven full service hotel re-position opportunities in development. Our firm’s skill set will enable us to ensure that our portfolio is well balanced with full service and resort hotels vs. select service.”
Mr. Reardon brings more than 25 years of experience in the hospitality industry to his new post. He came to Hotel Equities from Noble Investment-Interstate Hotels where he served five years as Vice President of Sales & Marketing and managed a nationwide portfolio of hotels.
Beginning his career with Marriott International in sales and marketing, Mr. Reardon transitioned to Operations as General Manager in various locations, but later moved back to sales where he was promoted to Regional Director of Sales & Marketing for Residence Inn and participated on the brand team. He later serviced in several Director of Marketing roles for Marriott International in full service as well as the resorts division.
Over a 17-year span, he earned prestigious awards from Marriott International for work in select service, full service and resort hotels, including the Director of Marketing of the Year and the General Manager President’s Cup. With a proven track record of transforming sales cultures and systems to drive top line revenues, Mr. Reardon possesses the ability to develop strong teams and create opportunities that have a positive impact on market share and profitability. He holds a B.S. degree in Business Administration & Tourism Management from North Carolina State University.