Norwalk, Connecticut-based HEI Hotels & Resorts has promoted Clark Hanrattie, a longtime partner of the firm, to CEO and managing partner, according to a news release.
Hanrattie will begin his role at the hotel investment and management company on July 1, succeeding Anthony Rutledge, who served as CEO since 2012, per the release. Rutledge will remain a significant owner and “engaged partner” at the firm after the transition date.
“I am honored to assume the role of CEO and managing partner with HEI,” Hanrattie said in a statement. “Anthony is someone who I deeply respect. He has had an immeasurable positive impact on my life and career. Together with Rachel Moniz and Dan Walworth, along with many other key leaders across the HEI team, we look forward to building on HEI’s legacy as an industry leading company with strong and aligned personal relationships across our institutional investment community, brand partners and associates.”
Rutledge added in a statement that Hanrattie’s “relentless passion and deep experience” will drive HEI “to new heights.”
Hanrattie, who served as partner at HEI for 23 years, has been “instrumental in the acquisition, revenue management, and expense management of more than 175 hotels, with transaction value exceeding $9 billion,” per the release. He began his more than 30-year career at Olympus Real Estate, where he climbed the ranks to become a partner at the firm, leading hotel investment and asset management activities.
In 2004, he joined HEI shortly after its formation to strengthen its owner/operator business model and played an integral role in driving growth of its portfolio from 35 to more than 100 hotels, per the company.
According to HEI, Hanrattie will continue to focus on growing the firm’s real estate value and driving HEI’s returns to its owners and branding partners. Former CEO Rutledge helped HEI grow its real estate value of its third-party hotel and/or joint venture assets under management from $2 billion in 2012 to over $20 billion today.
“Hiring, retaining, and developing the very best people in our industry continues to be a major contributor to our owner/operator business model and the outsized returns to our ownership and branding partners,” Hanrattie said in a statement.
HEI owns or operates more than 100 luxury, upper upscale and upscale hotels and resorts in the U.S. Its brand partners include Marriott International, Hilton, Hyatt Hotels, IHG Hotels & Resorts, Choice Hotels International and Wyndham Hotels & Resorts.
