Twenty-eight years ago, Fred Cerrone decided to turn his vision into a reality and establish Hotel Equities. Our Founder and Chairman was a former award-winning hotel general manager in his early 20's, and he used his knowledge of the industry to create a company that served the needs of associates, guests, and investors more efficiently.
Through the years, Hotel Equities has become a trusted business partner, known for our ability to build equity and generate upside potential. We have a team of associates who appreciate our people-centric culture and are passionate about their work. In turn, this helps us build strong relationships that facilitate expansion, new construction and rebranding or re-use development. Satisfied guests frequently rave about our uncompromising service and return for more. For all these reasons, we have received industry recognition for management and service excellence, year after year. Marriott International named Hotel Equities the recipient of its prestigious "Spirit to Serve Award" for community service" for the second time in 2016. The award recognized the company's values as expressed through employee volunteerism plus in-kind and cash donations. Hotel Equities is also a winner of the Hilton Connie Award.
We understand the importance of smart investments and we know that our associates are our most valuable asset. That is why we developed a world-class hotel management training curriculum. We value the individual and reward diligence. The payback is undeniable, as Hotel Equities' turnover rate is lower than the industry average.