Newly Rebranded Hotel Theo in New Orleans, LA, Joins the Raines Management Portfolio  

FLORENCE, SC — September 5, 2024 — Raines, a leading hospitality management, development, and investment organization, has added Hotel Theo, a Tapestry Collection by Hilton property, to its management portfolio. Formerly known as Hotel Magnolia, Hotel Theo is now part of Woven by Raines, the lifestyle division of Raines. The property is owned by TCOR Hotel Partners and TriGate Capital. 

Located at 535 Gravier Street, New Orleans, LA, 70130, between the French Quarter and the Warehouse District, Hotel Theo is an ideal spot for travelers looking to immerse themselves in the culture of The Big Easy and enjoy key attractions. The property itself also offers historic charm. It was originally built in the late 1800s and has been home to businesses such as an apothecary and bottling operations for Barq’s soft drinks. 

Today, the 101-key Hotel Theo offers modern amenities such as luxury linens, customized bulk bathroom amenities, premium high-speed internet, on-site fitness center, and 600 square feet of meeting space. The onsite restaurant, The Lyons Corner, is named for I.L. Lyons & Co., Wholesale Druggists, Importers and Manufacturing Chemists, the first business to be associated with the hotel’s address. 

“Adding Hotel Theo strengthens our presence in New Orleans and further accelerates our growth in the Southeast,” said Kerry Ranson, president of operations and partner at Raines. “This project in particular was an ideal fit for our skillset. Our existing presence in New Orleans, our history of successful Hilton transitions, and our focus on the lifestyle sector all coalesced as we worked with TCOR and Trigate on this conversion. Our team can’t wait to begin offering tailor-made experiences to guests at Hotel Theo.”  

Raines has added more than 20 properties to its management portfolio since the start of 2024, including 16 hotels in a landmark deal with Atlantic Hotels Group. Raines has been dedicated to holistic, sustainable growth, especially in the lifestyle sector, where they continue to expand their lifestyle division, Woven by Raines. In 2023, the company commemorated its 35th year in the hospitality industry and acquired third-party management company HP Hotels, among other accomplishments. 

About Raines   

Raines is one of the leading hospitality management, development, and investment organizations offering a comprehensive approach to its impressive property portfolio and client base. Led by managing partners, Grey Raines and David Tart, the award-winning company is known for its operational experience, success with historic properties, and expertise with the world’s leading brands, such as Hilton, Marriott, Hyatt, Choice, IHG and Wyndham. Featuring a variety of properties, including notable boutique hotels, The Foundry Hotel in Asheville, NC and Hotel Florence in Florence, SC, Raines currently has 56 hotels and 6,078 keys throughout the Southeast. Within the Raines organization, a variety of specialty divisions offer curated and strategic programming, including Woven, a boutique hotel sector, and Array, which specializes in commercial real estate and office properties. Raines is headquartered in Florence, SC, with a secondary regional office in Charleston, SC.  

About Tapestry Collection by Hilton 

Tapestry Collection by Hilton is a gathering of independent hotels, each with an original, vibrant personality. Every hotel’s unique story comes to life through elevated design and food & beverage inspired by the locale, offering guests authentic experiences across an array of destinations worth exploring. Tapestry Collection hotels create vibrant experiences for work and play, providing amenities and on-property experiences that meet daily needs and are tied to the destination. With over 135 hotels in 16 countries and territories, Tapestry Collection by Hilton offers a unique blend of local charm and Hilton hospitality standards, ensuring a memorable stay for every guest 

About TCOR  

TCOR was formed in late 2017 by Tom Corcoran, Debbie Feldman and Joe Corcoran as a branded select service hotel acquisition platform. TCOR is based in Dallas, Texas and has six hotels located in Texas, Florida, Maryland, Colorado and New Orleans.