Business magnate Fred Cerrone, founder of Hotel Equities, to step down after 36 years of spearheading the organization.
In the world of hospitality, few names carry as much weight and respect as that of Fred Cerrone. The co-founder and driving force behind Hotel Equities, a best-in-class hospitality operator and developer, is set to retire effective November 22, 2025.
Fred Cerrone's career in the hospitality industry spans an impressive 58 years. He began his journey as Sheraton's youngest-ever general manager at the tender age of 21 and rose through the ranks to become one of Marriott's first franchise partners. Over the decades, Cerrone has developed or acquired more than $4 billion in hotel assets, playing a key role in launching and expanding several major hotel brands including Marriott, Hilton, Hyatt, and Wyndham.
Cerrone's influence is far-reaching and lasting. Known affectionately as "Coach," he is recognised for his visionary leadership and commitment to integrity, service, and excellence. These values have shaped not only Hotel Equities but also the broader hospitality industry. Upon retiring, he will serve as chairman emeritus, continuing to guide and influence the firm’s mission.
Hotel Equities, originally a single-property operation, has grown under Cerrone's leadership into a respected hospitality platform with a portfolio across the U.S., Canada, the Caribbean, and Latin America. The company is built on the foundation of servant leadership, as stated in a recent announcement.
Brad Rahinsky, former President and CEO of Hotel Equities, has assumed the title of Co-Chairman. In a heartfelt tribute, he referred to Cerrone as a trailblazer, mentor, and the compass of Hotel Equities. Ben Rafter, former President of Springboard Hospitality, has been appointed as the new CEO.
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As Cerrone steps into retirement, his legacy will continue to shape who Hotel Equities is and how they lead. His contributions include establishing and expanding Hotel Equities into a leading hospitality management and development company, being a pioneering young general manager and early Marriott franchise partner, developing a hotel asset portfolio exceeding $4 billion, influencing major hotel brands and shaping industry practices with a focus on integrity and service, and leaving a lasting legacy acknowledged by successors who continue to build upon his foundation.
[1] Hotel Equities Press Release
[3] Hotel Management
[5] Hotel Business
[1] Fred Cerrone's retirement from Hotel Equities, a leading hospitality management and development company, marks the end of a glorious career spanning 58 years in the industry. His legacy of entrepreneurship, leadership, and commitment to finance, integrity, and service will continue to guide Hotel Equities.
[3] With Cerrone stepping down as the driving force behind Hotel Equities, leadership roles are passed on to Brad Rahinsky, former President and CEO, who will serve as Co-Chairman, and Ben Rafter, the new CEO. The transition signifies a new chapter in the company's small-business journey.
[5] The retirement of hospitality icon, Fred Cerrone, from Hotel Equities, has captured the attention of both domestic and international business publications, including Hotel Management and Hotel Business. The industry keenly observes the implications of this seminal event on the future of Hospitality.
