Acquired in 2015, the 161 key property was nine years old and in need of renovation. There was no full time General Manager and they were facing a decline in Business Transient revenues with a departure of Heinz from the market; all this in a year anticipated to grow revenue by $544,000 over prior year.
- Implemented strong cost saving efforts
- Recruited a seasoned General Manager to lead the property
- Established sales goals
- Trained and managed the revenue management efforts
- 161 guest rooms
- 2,000 sq. ft. of meeting space
- Full service Connections Restaurant
- June 2015 had the property ranked 2 of 5 hotels in RevPAR, implemented sales and revenue strategies increased ranking to 1 of 5 in RevPAR indexing well above market share.
- Year one saw total hotel revenue grow $89,000 over prior year and GOP percentage grew from 35.9% to 41.1%, beating the stretch budget.
- IBITDA percentage grew to 20.2%, from 16.1%.