18 February 2020
Hotel Equities Partners with Olympic Wrestler Turned Hotelier, Lincoln McIlravy; Assumes Management of Four Hotel Portfolio
Citing a perfect cultural alignment as the key deciding factor, Hotel Equities (HE) has partnered with Lincoln McIlravy, former Olympic wrestler turned Hotelier and his hospitality company, Serve 20:28. HE has assumed management of McIlravy’s portfolio of hotels in Iowa and Nebraska.
McIlravy, along with his wife and partner, Lisa, believe HE’s culture of investing in people through community learning and development as well as other shared values is what will make the partnership successful.
“When we talked with Joe [Reardon] and Brad [Rahinsky] about getting the best out of others for their benefit and the benefit of the company… that was in line with what we believe,” said McIlravy. “We are so grateful to be able to partner with HE and showcase the ability to execute on that.”
Chief Development Officer for HE, Joe Reardon, shares that sentiment. “It has to be a symbiotic relationship in order to be successful,” said Reardon. That realization happened quickly, he added, referencing the first time he and Brad Rahinsky, HE’s president and CEO, broke bread with Lincoln and Lisa. “It was apparent from our initial visit that they [the McIlravy’s] were a team we wanted to work with. That type of alignment enables us to join together to become a driving force in hospitality. We couldn’t be happier to partner with Lincoln and Lisa and their exceptional team at Serve 20:28.”
Along with that strong cultural fit, HE will also bring its team development and support-training platforms as it commences hotel management at the four hotels managed by Serve 20:28, something McIlravy and his wife say will be vital.
“We’ve always believed that it’s really important for the success of our people and their careers to develop and enjoy their growth,” he stated. Adding that they believe HE’s hotel management will allow for more employee opportunities to learn, teach and execute properly is also why they are “so excited about partnering with HE.”
HE has an extensive offering of industry leading hotel management training programs available to associates, students and recent college graduates interested in continuing their growth in the hospitality industry.
HE assumed management of the four hotel portfolio mid-January including the Homewood Suites by Hilton Iowa River Landing and Home2 Suites by Hilton Iowa City in Coralville, Iowa; the Staybridge Suites in Des Moines, Iowa; and the Hampton Inn South Heritage Park in Lincoln, Nebraska. Moreover, the partnership looks to benefit future properties as well.
Plans are in place for McIlravy’s newest hotel, a seven-story, premium branded 112-room lifestyle/extended stay hotel in Des Moines, to have a target opening by Summer 2021.
In regard to Serve 20:28’s future portfolio growth and development, discussions about exclusive project investment with HE are in the works.