DALLAS—-Dallas-based Prism Hotels & Resorts, an award-winning, full service hotel management, investment, and advisory services company, has been honored by Hyatt Hotels Corporation as the winner of the 2017 Operating Excellence award for full service. Prism President & CEO Steve Van accepted the award at the 2017 Americas Owners Conference Awards, held at The Hyatt Regency Coconut Point Resort.
The Operating Excellence award recognizes a management company for its outstanding achievement in hotel operations, and for helping Hyatt on its path to becoming the most preferred hotel company, through excellent franchise partners. Specifically, Prism’s role in managing the company’s largest franchise in North America, the 580-room Hyatt Regency Los Angeles International Airport, and producing best-in-class results led to this prestigious Hyatt recognition. Selection criteria for the award includes design capability, exemplary service, occupancy growth, Average Daily Rate growth, market share ranking, and Net Promoter Score.
“It has been an incredible journey for our entire Prism team, transforming the LAX property into the largest Hyatt Regency franchise in North America,” Van said. “In less than one year since we’ve rebranded, we’ve hit the ground running with incredible financial results and stellar guest feedback. We are proud to receive this exciting recognition, as it is a true testament to our Prism culture, our great people and our depth of experience that we’ve delivered this level of results for our ownership and for Hyatt.”
Prism’s results speak for themselves. The hotel has grown occupancy and ADR to surpass their LAX competitors in RevPar, has advanced over 200 spots in TripAdvisor in just two years—beating some of LA’s most respected hotels—and has consistently been in the top percentile in Hyatt’s guest service scores, starting while still under construction.
"We greatly value our franchise partnership with Prism Hotels & Resorts; Prism helped us proudly reintroduce a full-service hotel experience to the place of Hyatt's founding 60 years ago: Los Angeles International Airport," said Jim Chu, global head of select service and franchise strategy, Hyatt.
“The Prism team oversaw the transformation of Hyatt Regency Los Angeles International Airport into a thoughtfully designed, well-appointed new full-service hotel at the best location in the market. In addition, Prism in the last year has grown the hotel’s occupancy by more than 20 percentage points — an astounding jump. We are honored to recognize Steve Van and Mitra Van of Prism for their commitment to excellence in 2017 — and always.”
Hyatt recognized 10 of the company’s top owners, operators and developers at its recent conference for owners throughout the Americas, with award categories honoring strategic partners, developers of the year, best projects and best new hotels.