O’Stean new CDO at Hotel Equities

ATLANTA – Hotel Equities has announced the appointment of hospitality veteran Greg O’Stean as its new chief development officer (CDO), and the promotion of Joe Reardon to vice chairman.

O’Stean, CDO at Aimbridge Hospitality for four years until January 2024 and for the last year CEO of Dubai’s United Hospitality Management, will lead HE’s development platform with plans to accelerate strategic growth initiatives and help expand the company’s global footprint.

“We’re thrilled to welcome Greg to the team,” said HE President and CEO Brad Rahinsky. “His proven success in driving results make him a perfect fit to build on the momentum Joe helped create.”

“I’ve long admired the trajectory Hotel Equities has been on,” O’Stean said. “This is a company with an exceptional culture and a leadership team that knows how to grow the right way. I’m excited to get started and contribute to the next phase of expansion.”

Reardon, who has overseen Hotel Equities’ business development efforts for the past 11 years, will be fully focused on strategic partnerships as the new vice chairman. He said his relational leadership style helped grow the company from a Southeast-based operator to a global hospitality firm managing more than 200 open and operating hotels, resorts, and outdoor hospitality destinations. HE’s portfolio today stands at more than 300 properties.

“Joe’s legacy is one of vision, grit, and heart,” Rahinsky said. “His leadership has not only helped grow our company but has also helped define our culture. Joe’s belief in doing the right thing—always—has earned the respect and trust of our team, our partners, and the industry at large. His drive, passion and dedication to HE, our key stakeholders and our strategic growth initiatives during his tenure put him in a league of one. I’m incredibly grateful for his friendship and am excited to see his continued success.”

Last month, Hotel Equities signed a strategic partnership with Little Rock, Arkansas-based Pinnacle Hotel Group to integrate eight more of Pinnacle’s current hotel portfolio as well as 12 under development into Hotel Equities’ management platform effective May 1. This moved HE's portfolio size to 304 hotels.

This partnership builds on an existing relationship, as HE already manages for Pinnacle the recently opened AC Hotel by Marriott Kansas City Downtown. A Hotel Equities representative told Hotel Investment Today that moving forward they will certainly consider joint venture opportunities with Pinnacle if the deal makes sense. “HE benefits from the portfolio expansion, but also by adding strong industry leaders to help steer the ship with immense expertise, especially on the development side of the business,” the HE representative said.