Wednesday May 22nd, 2013 - 1:19PM
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.