What hoteliers need to know before putting their properties in the hands of a professional manager
In the two years since the start of the global COVID-19 pandemic, the U.S. hotel industry has made significant progress toward recovery. U.S. hotels recaptured 83 percent of pre-pandemic RevPAR levels in 2021, and are expected to surpass the pre-pandemic comparable in 2023 on a nominal basis, according to STR and Tourism Economics’ latest forecast released earlier this year. Occupancy will likely exceed 2019 levels next year as well. Amid this resurgence in demand and revenues, hoteliers are looking to strategically position their assets and align themselves with the right partners to make the most of the opportunities ahead. This year, LODGING takes a look at more than 50 management companies that are working to help hotels recover and thrive in 2022 and beyond.
Charlestowne Hotels
Charlestowne Hotels specializes in lifestyle, adaptive reuse, collegiate, branded and soft-branded hotels, and condo properties spanning a range of markets including urban cities, secondary cities, and resort destinations. The company, which manages a portfolio of 50+ hotels, includes a food and beverage division with more than four dozen outlets. Charlestowne treats each property as its own brand, working with owners and on-site teams to develop revenue optimization, operation systems, creative programming, and strategic marketing synergies that elevate the property and enhance the guest experience.
| Total Rooms Managed | 4,744 |
|---|---|
| Total Properties Managed | 56 |
| Third-Party Rooms Managed | 3,584 |
| Third-Party Properties Managed | 47 |
| Total Gross Revenue | $196,000,000 |
| Contact | Michael Cady, mcady@charlestownehotels.com |
