hotelAVE assumed asset management upon opening for the 200-room full-service Hilton Hotel in Brooklyn, NY. Ownership’s goal was to quickly achieve targeted RevPAR ranking, optimize the Food & Beverage operating model, and achieve NOI targets. Additionally, ownership’s objective was to refinance the existing debt within 3 years.

• hotelAVE created a roadmap to achieve the #1 RevPAR ranking within the competitive set, including strategic analysis of optimal mix, segmentation penetration, and channel opportunities
• Evaluated and implemented changes to the F&B operating model
• Rightsized and repositioned the food & beverage concept and transitioned the lease arrangement to hotel operations

Improved Financial Performance

• Achieved #1 RevPAR ranking within the first 15 months of opening
• Achieved top ten guest ranking in Trip Advisor within seven months of opening
• Exceeded underwriting generating sufficient cash flow to pay debt service without using loan reserve funds
• Achieved high 40s gross operating profit margin which is above average for a full-service hotel

Exceeded Owner’s Objectives

• Refinanced 14 months ahead of schedule and exceeded owner’s return expectation

Received Hilton’s Best Commercial Hotel of the Year Award 2018 for the Americas.