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Perry Lane Hotel, a luxury boutique property in Savannah, exceeds financial expectations and receives coveted industry awards

hotelAVE was engaged to create and execute an asset management plan that included underwriting and positioning the first luxury hotel in the Savannah market with a goal to achieve #1 RevPAR ranking. Our team was also tasked with developing a pre-opening strategy with the operator to support ownership’s objectives.

Plan of Action

  • Performed a market positioning review of the proposed hotel and all food & beverage outlets and, in conjunction with Operator, created proactive strategies to capture demand
  • Conducted a deep dive analysis into the hotel competitive set, closely monitoring weekday/weekend and transient/group performance
  • Created a performance-based compensation plan to ensure alignment between Ownership’s performance objectives and the hotel executive team’s incentive bonus plan

Service: Pre-Opening and Ongoing Asset Management

hotelAVE Results

Exceeded Owner’s Performance Objectives

  • Achieved fair share penetration within 9 months of opening
  • Exceeded targeted RevPAR Index for the first full year of operation by over ten points

Named to Acclaimed Industry Award Lists upon Hotel Launch

  • Named to Marriott’s ‘Best New Hotel Openings Globally
  • Named to Travel + Leisure’s ‘2019 It List – The Best New Hotels in the World’, through the targeting of PR opportunities
  • Named to the Condé Nast ‘Best New Hotels in the World Hot List’
  • Peregrin named ‘Best Rooftop Bar,’ by 2018 Foodie Awards
  • Named to TripAdvisor’s 2020 Top 25 best Hotels in USA

Key Contact

Silvie Cohen

Vice President