NORTHBROOK, IL—Lane Industries Inc. has formed a partnership with the leadership team of Lane Hospitality as a result of their investment in the companys hotel ownership and management business.
The transaction closed on Oct. 29 of this year. Going forward both Lane Industries and the companys management team said they expect to align ownership interests and make future capital investments in the business.
Bill DeForrest, president and CEO of Lane Hospitality, is part of the new partnership. “Having known and worked with the Lane family for a significant part of my career, it is a privilege to now be a partner with them and my colleagues at Lane Hospitality.”