After spending nearly seven years with hospitality management, development and investment group Raines, Kristen B. Myers was recently promoted to VP of investments. Although not a Raines by blood, she considers herself an integral part of the family. We caught up with Myers about her new role, the company’s current projects and some personal goals she has for herself.
—Abby Elyssa
You’ve been with Raines for some time now. What’s kept you with the company?
Starting with Raines in my 20s, I was hungry to learn and “climb the ladder,” so growth opportunity has always been important from the beginning. Though growth still remains a high priority for me, the culture of the organization is unmatched and is the main contributor to my loyalty to the company. Without such a strong base, our growth trajectory would simply not exist. I quite often get mistaken as a member of the Raines family, and that speaks volumes. I was brought in as “one of their own” from the start, and the level of trust they instilled in me from the beginning sparked my confidence and my trust in them. I tell the family frequently that they can’t get rid of me even if they tried.
How has Raines’ leadership and company culture helped to develop your career and personal growth?
I was brought in under a unique situation where there were less than six people at the corporate level, three of which being a Raines family member. I was extremely fortunate for my daily interaction with the principals of the company and overall exposure to the industry from many different views. I was involved in many decisions and gained a lot of experience early on. Their trust in me to be part of the family and willingness to have me ask (quite literally) a million questions as an outsider looking in still sticks with me. Grey [Raines, the company’s president] took me under his wing and exposed me to everything he was involved in while taking the time to explain different processes or decisions he was making. The love for the industry and the authenticity from all the leadership at the company truly fostered my personal growth and desire to continue to grow while fostering others as well.
What are some goals for 2022 and the new role?
Throughout the remainder of the year, we will continue to source deals efficiently while remaining hyper-focused on possible acquisitions. A main goal of mine for 2022 is to enhance investor relations. This includes equity management, frequent reporting, communications/outreach and business planning.
What about some long-term plans (professional and personal)? What do you hope to accomplish?
Outside of authentic growth of the company via development, acquisitions and management opportunities, I hope to continue building out long-term partnerships. We are selective about who we bring in, and I feel this truly sets us apart. Building long-term relationships takes time, and I’m excited to see where that takes us. Personally, a long-term goal of mine is to set a good example for my three-year-old daughter. She is watching my every move, and it’s sometimes terrifying to know that I have a shadow at all times. I want her to see what her mom is capable of doing professionally while having a home life simultaneously. I want to light a fire under her, and show her and others that we can in fact have it all and succeed.
What current challenges is the industry facing and how do you plan on helping Raines overcome those?
Construction costs and lending remain at the top of the list regarding challenges. I play a critical role in overall deal structure and bringing these deals to our principals and partners. Though I can’t change the cost of construction, I can help us take an alternative look at the types of assets we are looking to build/obtain to see what makes the most economical sense for the markets we are entertaining. I also communicate regularly with both regional and national lenders—as well as brokers—to see what everyone’s appetite is. Communication and knowledge are critical.
How are you utilizing the latest tech at Raines?
I launched IMS (a RealPage platform) at the beginning of 2022. It was a bit of an undertaking, but it’s been rewarding on so many levels. This platform is used as our investor portal where we are able to streamline reporting, documentation and track the success of our investments. As we continue to grow, we felt that it was crucial to not only offer a more sophisticated tool for our investors, but also to streamline our investment portfolio as a whole. The platform continues to grow and offers new tools and services frequently.
What’s on the horizon for Raines? Any exciting news you can share?
We are thrilled to be moving forward on our development pipeline this year. We have several large projects underway and continue to vet additional opportunities throughout the Southeast. In the Carolinas, we are well underway with the Waynesville Inn & Golf Course in Western North Carolina and excited to add this style project to our portfolio (our first golf course renovation). We are also nearing a construction start for a historic project in downtown Wilson, NC, as well as a Hilton project in North Augusta, SC. We are fortunate to work with some of the best in the industry to make this possible during such unprecedented times.
What’s the best piece of advice you’ve received?
Never miss an opportunity to learn. In this ever-changing environment, it’s now more important now than ever to focus on learning opportunities and growth. Hospitality is unique in the fact that true “hospitality people” love to network and learn from each other. It’s one of my favorite aspects of this industry. I’ve learned so much from simply networking and chatting with others in different aspects of the industry. Knowledge is key and will in turn help with decision making and confidence along the way.
What advice do you have for aspiring hospitality professionals?
Find a mentor. We can learn a lot from those who have gone before us. It is not something that will happen overnight, but if you find someone whose success is driving results you want, learn from them. A simple conversation can go a long way. Most importantly, persevere. It takes courage and confidence to push through the stigmas to gain respect.
What do you wish you could go back and tell your younger self?
Don’t take life so seriously. If there’s anything we have all learned in the past two-plus years, it’s that we have to be able to pivot and adapt to survive—both in life in general as well as the industry. I’ve battled with a type A personality for as long as I can remember, and I’m famous for my magnitude of checklists. I’ve learned (or more so been forced by my toddler) to embrace the chaos and focus more on the “now” vs. the “what ifs.” Another important message I’d pass to my younger self would be to be your own brand. It’s okay to not fit the mold and model that others expect from you.
Is there anything the industry may not know about you?
A lot of people assume I’m from the Carolinas (guess I picked up the accent). I’m actually a Hurricane Katrina transplant, born in New Orleans and raised there for a good part of my life. The majority of my family still lives there, and it will forever be home. My love for food started there, and the Cajun comes out from time to time. Fun fact: I’m also a twin.
