Full-Service Hotel in Houston, TX
- Background: Driftwood Hospitality acquired 420-key full-service top brand hotel located in the primary market of Houston, TX, minutes away from the airport.
- Action: Our revenue management and sales team took an innovative approach to optimize business segmentation, targeting business with higher rates to drive business to channels with lowest fees. The team also developed an e-commerce presence, used unique grassroots sales tactics to develop relationships with nearby demand generators, and used OTA optimization to fill room nights with highest possible capture rate.
- Results: In just the first three years under Driftwood’s management, the hotel increased revenue from 64.1% (2013) to 75.1% (2014) to 80.8% (2015), increased ADR from $98.47 (2013) to $115.12 (2014) to $127.94 (2015) and grew NOI by 295%. Overall, we outpaced our competitive set’s RevPAR growth by more than 27%, increased NOI margin by 17%, and increased RevPAR by 18.8%.