Alliance Hospitality Reports Strong First Quarter Growth
Wednesday May 22nd, 2013 - 1:19PM XO
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
RALEIGH, NC—Alliance Hospitality, a management company based here, has reported strong Q1 growth.
According to data released by Smith Travel Research (STR), the company’s revPAR increased 5.8% compared to last year, surpassing the competitive set for Q1 2013. Year to Date through April the growth continues with Alliance Hospitality revPAR increasing 8.9% over last year and 6.7% over the competitive set as a portfolio.
According to the company, the majority of growth was fueled by strategic positioning of rates with Alliance teams and revenue management in a strong occupancy demand quarter. Alliance contributed an NOI growth of 36% more than this time in 2012.
The company recently partnered with Otis and Clark properties to oversee four Marriott select-service properties in St. Louis, MO, as asset managers and recently added a Choice property in Christiansburg, VA.
Tags: • Hospitality • Management Companies • Quarterly Results •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.