April Results – Strong Start to Q2
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 to five of the hotels reporting an increase of $30 or higher. ]
Over the last four years, Charlestowne Hotels has consistently doubled the industry’s growth, and most recently reported a RevPAR increase of 14% for the first quarter. Progressive marketing and distribution strategies, as well as the expansion of the company’s Revenue Optimization team, are the driving force behind these impressive results.
Staying on track to beat the national RevPAR growth in 2014, would make it five consecutive years of Charlestowne Hotels outperforming the US market.