Last Tuesday, Smith Travel Research released April’s national average revenue per available room (RevPAR) growth of 7.4%, which is dramatically less than the 15.2% that Charlestowne Hotels experienced. The growth within Charlestowne’s portfolio was predominantly driven by an overall increase in average daily rate, 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 overall increase of 14% for the first quarter of 2014. 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.
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.