Alliance Hospitality Reports Strong First Quarter Growth
Wednesday May 22nd, 2013 - 1:19PM XO
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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 •
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.