Welcome to our blog! We’ll break down industry data, offer profitability tips and share expert advice to benefit hotel owners and operators alike.
It’s also important to research trends that might impact the transaction market. A quick search of Costar will offer a list of other properties that have transacted within the market and reveal how the market is pricing deals along with the cap rates involved.
And remember, it’s important to remain vigilant. Evaluate the hotel’s current position within that market every year, as the hotel market is dynamic and constantly changing. You should always be prepared to sell even if you’re not planning to place the property on the market. This will help ensure your hotel is always in a strong competitive position.
We’ve now shared with you our six Crown Jewels! If you follow these steps, increasing profitability is well within reach.
Starwood Capital Group has closed a $225 million deal to purchase the St. Regis Princeville Resort on the island of Kauai in Hawaii. The group plans to invest $100 million to reposition the 251-room property as a wellness resort under the 1 Hotels brand and will rename the resort, 1 Hotel Hanalei Bay.
During renovation, the hotel will be called Princeville Resort and will be operated by SH Hotels & Resorts.
The 1 Hotel brand is a luxury lifestyle concept that launched in 2015 and now has properties in Manhattan, Brooklyn and South Beach, Florida. For more on this transaction, read the Hotel News Now article.
The U.S. hotel industry reported positive year-over-year results in the three key performance areas during the week of 4-10 November 2018. The industry recorded the following:
• Occupancy: +0.7% to 69.0%
• Average daily rate (ADR): +1.0% to US$129.95
• Revenue per available room (RevPAR): +1.6% to US$89.68
Overall, 13 of the Top 25 Markets reported a RevPAR increase.
*Data source: STR
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