Raines, a prominent name in the hospitality industry, has further expanded its reach by acquiring the management rights of Hotel Theo, a captivating property nestled in the heart of New Orleans. This addition marks a significant step in Raines’ strategic growth, adding another gem to its already impressive portfolio. Hotel Theo, previously known as Hotel Magnolia, has now found its place under the umbrella of Woven by Raines, the lifestyle branch of the company. The hotel, owned by TCOR Hotel Partners and TriGate Capital, boasts a rich history, dating back to the late 1800s when it housed various businesses including an apothecary and the original bottling operations for Barq’s soft drinks.
Situated between the iconic French Quarter and the vibrant Warehouse District, Hotel Theo provides guests with an ideal location to experience the unique charm and bustling energy of New Orleans. Its 101 rooms are adorned with upscale amenities, including luxurious linens, eco-friendly bathroom products, complimentary WiFi, a convenient on-site fitness center, and versatile meeting spaces spanning 600 square feet.
The hotel’s restaurant, The Lyons Corner, pays homage to I.L. Lyons & Co., a prominent pharmaceutical company that once occupied the hotel’s address. This dedication to local history and heritage is a hallmark of Hotel Theo’s identity.
Raines has been on a rapid growth trajectory throughout 2024, adding over 20 new properties to its management portfolio. This includes a significant deal with Atlantic Hotels Group, which brought 16 hotels under their management. The company’s focus on the lifestyle hospitality sector, spearheaded by Woven by Raines, reflects their forward-thinking approach and commitment to innovation within the industry.
2023 marked a pivotal year for Raines, as they celebrated 35 years in the hospitality industry. Among their key achievements was the acquisition of HP Hotels, a third-party management firm, further solidifying their position as a leader in the sector. Raines continues to demonstrate its dedication to growth and diversification, solidifying its reputation as a key player in the evolving hospitality landscape.
