Ownership of the hotel was seeking a strategic rebranding of the asset with a goal to minimize capital expenses and drive cash flow for a planned disposition.

• Based on a deep understanding of the Hilton brand standards, the hotelAVE asset management team helped negotiate the Hilton PIP and obtain brand waivers that resulted in a renovation plan that enhanced the asset in the most cost-effective manner possible
• Once the renovation was complete the hotelAVE team developed and implemented a plan to improve the hotel’s profitability

Renegotiated Property Improvement Plan (PIP)

• Reduced Hilton PIP by more than $500,000
• Reduced project management and professional fees by $200,000

Increase RevPAR performance

• Improved index by 8% prior to renovation
• Accelerated RevPAR performance post renovation and rebranding
• Achieved RevPAR penetration index of 116% in year one, exceeding underwriting pro forma
• Six months after renovation achieved #1 RevPAR ranking

Improved Profitability

• As a fully renovated Embassy Suites, grew gross operating profit by more than 25%
• The owner was able to sell the property at a premium to the market on a per key basis