Raines, a management company, has welcomed Fairfield Inn & Suites by Marriott Pensacola West I-10 to its expanding portfolio of branded and independent properties in the Southeast. This deal marks the fully integrated development, management, and investment company's first hotel in Florida. Season 21, LLC owns the property.
According to Grey Raines, managing partner at Raines, the company has had its eyes set on expanding to Florida for a while now.
"We were waiting for the right property and partner, and we found both in this latest deal. We are thrilled to be working with Season 21's leaders and appreciate the opportunity."
This is the first time Season 21 and Raines are venturing into business together. The company's leaders met for the first time earlier this year when Season 21 approached Raines regarding the management of Fairfield Inn & Suites by Marriott Pensacola West I-10.
The addition of the newly opened Fairfield Inn & Suites by Marriott Pensacola West I-10 brings Raines' portfolio to 22 properties, nine of which are Marriott properties, including two other Fairfield assets. This property marks the company's sixth third-party management agreement.
Enhancements to the guestrooms, public areas and the property's curb appeal are expected.
