Charlestowne’s Performance Outpaces National Results for Third Consecutive Year
Charlestowne Hotels announces mid-year RevPAR growth that is double the national average increase of 5.6% which was recently reported by Smith Travel Research (STR). A year over year (YOY) comparison of properties under the management of Charlestowne Hotels during the first six months of 2012 and 2013 shows an average RevPAR increase of 11.10%.
Additionally, properties new to the company’s portfolio experienced a YOY change averaging a 16.88% RevPAR increase during the same period.
President & COO Michael Tall attributes this achievement to the comprehensive plan and coordinated efforts of the revenue and marketing managers as well as the onsite management teams. “We made a commitment to carefully and strategically grow Charlestowne Hotels by recruiting and developing the finest talent in the industry with a strong focus on revenue management and online marketing. This, combined with a strong operations team, is the reason our clients’ hotels are enjoying such outstanding revenue growth which has also resulted in strong NOI growth.” states Tall.
Wesley Bloomfield, senior marketing manager mentions “As we continue to monitor and adapt to the various marketing trends and technologies, our results over the first half of the year indicate that our strategies are performing successfully. With an emphasis on ecommerce and integrated marketing campaigns, our hotels are being exposed to a larger audience and have therefore resulted in an increase in revenue.”