RECEIVERSHIP

RECEIVERSHIP


Limited Service Hotel in Orlando, FL

  • Background: In February 2010, Driftwood took over management of the 135-room select-service Hawthorn Suites. Our team was challenged with a deteriorated product, stagnant sales and a failed revenue management strategy.
  • Action: In 2012, we completed a $3 million renovation, conversion and the implementation of cost controls to a Staybridge Suites.
  • Results: Through the renovation, conversion, and the implementation of operating cost controls, we created an increase of NOI from $523,000 in TTM December 2011 to $1,281,109 in TTM April 2016.  From year-end 2011 to 2015, RevPAR improved from $49.57 to $80.44 and ADR grew from $76.52 to $90.90.  The hotel was even awarded InterContinental Group’s “Best Renovation” in 2012.