Charlestowne Hotels Reports 'Significant' RevPAR Growth
Wednesday February 5th, 2014 - 9:01AM O
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CHARLESTON, SC—Charlestowne Hotels reported a year-over-year comparison of properties under its management showed an average 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 ADR (6.7%), according to the company.
In addition, seven of the properties within the portfolio concluded the year with a RevPAR increase greater than 15%, according to the company.
“Most markets across the country are seeing an increase in RevPAR and many hoteliers seem to be showing a sense of optimism,” stated President/COO Michael Tall. He indicated the company's strategic approach to top line revenue generation and initiatives that were set forth in 2013 resulted in the increased RevPAR growth.
Charlestowne Hotels has a diverse portfolio of properties, including AAA Four Diamond hotels, luxury boutique inns, resorts, condo hotels and branded properties.
Tags: Charlestowne Hotels • RevPAR • Hospitality • Management Companies •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.