Hotel Equities founder Fred Cerrone to retire
Hotel Equities has revealed that its founder, Fred Cerrone, will retire effective Nov. 22, concluding a 58-year career in the hospitality industry. Upon his retirement, he will become chairman emeritus of the company.
Over the last 36 years, Cerrone, known as “Coach” by his team and industry peers, has led Hotel Equities from a single-property operation into one of the industry’s most respected hospitality platforms, with a portfolio spanning the U.S., Canada and the Caribbean and Latin America (CALA) region.
“As I prepare to step away from daily operations, my heart is full,” said Cerrone. “It’s been a joy and a blessing to serve alongside such an extraordinary team. While my role is evolving, my commitment to Hotel Equities remains steadfast. I look forward to supporting our mission in this next chapter as chairman emeritus.”
As part of the planned transition and following the merger with Springboard Hospitality, Brad Rahinsky, former president/CEO, Hotel Equities, has assumed the title of co-chairman. Springboard’s former president, Ben Rafter, was appointed Hotel Equities’ CEO earlier this month.
by Adam Perkowsky