1980

Despite the US-prime rate peaking at 21.5% at the end of 1980, it would become a busy decade of growth for Raleigh. 

The early-1980s saw an expansion of Raleigh’s hotel operations, with the company acquiring and reinventing the Stephen F. Austin Hotel in Austin, Texas and in taking a lead role in the restoration of the Hotel Jerome in Aspen, Colorado.  Additionally, the company was brought in by the Kaempfer Company, the developer of the Regent International Hotel in Georgetown, Washington to assist in repositioning that hotel which was experiencing significant operating losses.  Unfortunately, the financial challenges faced by that property were too formidable to overcome, even with the considerable experience of the Raleigh team.