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Hilton Brooklyn Hotel exceeds underwriting projections and achieves #1 RevPAR ranking within 15 months

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.

Plan of Action

  • 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

Service: Asset Management

hotelAVE Results

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.

Key Contacts

Romy Bhojwani

Executive VP

John Paulsen

Vice President