Charleston, SC – Through a combination of strategies, properties managed by Charlestowne Hotels enjoyed a cost of reservations far lower than that experienced by most other hotels. These strategies include a combination of cultural shifts through leadership that injects a diligent approach to booking channel management from the revenue manager to the front desk staff.
Charleston, SC – Charlestowne Hotels is reporting that its hotels under management in the second quarter of this year enjoyed RevPAR growth of 10.04% compared to the same quarter one year ago. Smith Travel Research recently released US second quarter RevPAR results indicating year-over-year growth of 6.5%. Comparing Charlestowne Hotels’ managed properties growth and that of the US,
In January 2014, leading industry analysts forecasted RevPAR growth for the year at 5.3% (STR) and 6.6 % (PKF). While initial focus was on the significant difference of these projections, the end story was on how significantly the industry outperformed both projections, closing 2014 with a RevPAR increase of 8.3%. And, while impressive, Charlestowne Hotels
Charlestowne Hotels' revenue performance continues to stem from impressive rate growth, with third quarter numbers exceeding previous results and industry averages. Yesterday, STR reported a national average daily rate (ADR) change of 5.2 percent for the trailing three months, while hotels within the Charlestowne portfolio experienced an average increase more than double the U.S. at
Impressive ADRs Continue to Drive RevPAR Growth The third quarter of 2014 is off to a strong start, as the U.S. hotel industry continues to report an increase in all three key performance metrics, according to STR. While the industry's occupancy growth is comparable with the hotels in the Charlestowne portfolio, the year-over-year increase in
Charlestowne Hotels On Track to Double Industry's RevPAR Growth 5 Consecutive Years As many industry leaders predicted, an increase in all three key performance metrics have been reported during the first 6 months of 2014. Although the U.S. average in occupancy, average daily rate (ADR) and revenue per available room (RevPAR) show positive results, the
Last month, hotels within the Charlestowne portfolio experienced an average year-over-year RevPAR growth of 16.8% compared to the national average of 10% which was recently reported by STR. Although Charlestowne Hotels shares similar results in occupancy growth, the variation in average daily rate is clearly the driving factor of the significant increase in RevPAR. The
Last Tuesday, Smith Travel Research released a national average RevPAR growth in April of 7.4%, which is significantly less than the 15.2% Charlestowne Hotels experienced. The growth within Charlestowne’s portfolio was predominantly driven by an overall increase in ADR, averaging $18.28 higher than 2013. A methodical, yet aggressive approach to push rate in 2014 contributed
Being developers and hotel owners themselves, Charlestowne Hotels understands the inherent risks that owners face, as well as the importance of adaptability and expertise in each project. Its current portfolio includes AAA Four-Diamond hotels, boutique historic inns, beachfront condominium hotels, deluxe mountain inns, resorts, and branded full-service and limited-service properties.