A year over year comparison of properties under Charlestowne Hotels’ management showed an average revenue per available room (RevPAR) increase of 11.67% compared to the national average reported by Smith Travel Research (STR) of 5.7% in 2013. These results are attributed to an increase in both occupancy (4.5%) and average daily rate (6.7%). In addition, seven of the properties within the portfolio concluded the year with a RevPAR increase greater than 15%.
“Most markets across the country are seeing an increase in RevPAR and many hoteliers seem to be showing a sense of optimism,” states President & COO Michael Tall. “Our strategic approach to topline revenue generation, followed by exceptional service within operations, has allowed our properties to dramatically outperform their comp set year after year. The initiatives that were set forth in 2013 demonstrate the foreknowledge within our organization which resulted in RevPAR growth more than double the national average.”
ABOUT CHARLESTOWNE HOTELS
Charlestowne Hotels is a full-service hospitality management company offering innovative, yet proven, expertise in hotel management. Founded in 1980 by CEO Everett L. Smith, Jr., Charlestowne Hotels has become one of the top ranked management companies in the US.
Charlestowne’s proficiency in managing a diverse portfolio of properties, including AAA Four Diamond hotels, luxury boutique inns, resorts, condo hotels and branded properties, has led to numerous industry accolades including Condè Nast Magazine “Gold List” and “Readers’ Choice Award,” Top 100 Hotels in the US” by Travel + Leisure, TripAdvisor’s #1 and #2 Luxury Hotel in the US, Smith Travel Research's "Best Performing Hotel in the US,” as well as other national media and travel industry honors. In addition, hotels managed by the company have outperformed the national average revenue per available room (RevPAR) growth by 30% or more since 2009.