Austin Marriott at The Capitol
- Increased NOI by $1.7 Million or 62% in first 3 years since takeover despite a 38% increase in supply and no change in product condition.
- Worked with regional team to increase BAR pricing strategies that have resulted in a 26% increase in the property's weekend ADR over the past two years.
- Instituted weekly cost containment meetings due to lack of focus on controllable costs. Incremental flow has since been positive.
- Conducted competive shop of F&B menus, gift shop, and parking gargage pricing that resulted in price increases to market levels.
- Identified a significant inter-company overpayment to Marriott through review of trial balance reports that resulted in a $70,000 reimbursement to owner.
Read hotelAVE’s asset management success stories at the Doral Tesoro or Mansion on Peachtree hotels or learn more about hotelAVE’s Asset Management services.