This week’s Partner News is highlighted by Hospitality Ventures Management Group (HVMG) reporting portfolio GOP that more than doubles the industry average, Peachtree earning a Hilton Legacy Award and ProfitSword adding a VP, engineering. Read about all that and more below.
HVMG portfolio GOP more than doubles industry average
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management and investment company, continues to generate industry-leading gross operating profit per available room (GOPPAR) and gross operating Profit (GOP) margins as measured by STR data. From June 2020 through March 2021, HVMG’s consolidated portfolio produced a GOPPAR of $15.13 and a GOP margin of 27.3%, compared to industry averages of $7.62 and 11.8%, respectively, for the same period. In the upper-upscale segment, the results were even more dramatic as HVMG’s GOP margin for the 10 month period was 27.2% vs. the industry average of 3.2%.
In March, HVMG’s portfolio-wide GOP margin was 42.6% compared to the industry total of 30.9%. In the upper-upscale segment, the company’s hotels achieved a GOP margin of 42.7% vs. the industry total of 24.1%, and a $108.30 total revenue per available room compared to the industry average of $72.12.
Peachtree Hotel Group recognized with 2020 Hilton Legacy Award
Peachtree Hotel Group has been recognized with the 2020 Hilton Legacy Award for North America Conversion for its Cumberland House Knoxville, Tapestry Collection by Hilton in Tennessee. The annual awards program celebrates owners and development partners in the Americas for contributions toward brand excellence and development efforts.
The Legacy Awards recognize the passion, creativity and innovative spirit of Hilton’s partners who are committed to quality projects that meet or exceed brand standards and have a positive impact on communities around the world. The leadership of Hilton’s development and brand teams select the winners based on strict criteria including, but not limited to, hotel quality and commitment to guest experience.
Jason Wallace joins ProfitSword
ProfitSword has appointed Jason Wallace as VP, engineering. Following ProfitSword’s continuing expansion due to the industry’s need for solutions that can instantly determine real-time business performance, he will play a central role in ensuring that the company’s customers continue to have access to the advanced tools they need to adapt to sudden shifts in market conditions.
In his new role, Wallace will leverage his more than 15 years of expertise in IT, software development and data management to spearhead ProfitSword’s vision and strategy in meeting hospitality’s latest business intelligence needs and priorities. Wallace’s efforts will specifically focus on providing leadership and expert guidance for ProfitSword’s development teams, as well as for the company’s technical, data and systems integration services.
Prior to joining ProfitSword, Wallace served as technical lead/assistant director for master data management at EY, a tax, transaction and advisory services firm. He previously served as director, development for Brown Bag Marketing and Vetlocity.
Florida resort adopts BeyondTV’s myRemote
Hotel Internet Services (HIS) has successfully implemented the BeyondTV virtualized remote feature, myRemote, at Shephard’s Beach Resort in Clearwater, FL.
The myRemote feature offers guests a user-friendly experience with personal device-based control over virtually all BeyondTV and guestroom television functions. This includes powering televisions on or off, adjusting volume, changing language settings, switching between streaming services and requesting hotel amenities or information.
Since deploying the feature and alongside a spike in 1,264 reservations for the 150-room resort in April, Shephard’s Beach Resort has averaged 126 myRemote interactions daily. In just one month alone, such interactions come to a total of 3,800 while resulting in zero calls for support.
Minor Hotels sustains adaptability with SiteMinder Multi-Property
Minor Hotels and SiteMinder have worked together since 2013, but the launch of SiteMinder Multi-Property has helped the hotel chain centralize functions at a crucial time. The solution removes complexity for revenue teams and boosts efficiency by enabling hotel groups and chains to manage and distribute their rates centrally.
Minor plans to open 17 properties this year and the company believes Multi-Property will be a key solution, as the chain expands, in setting up new hotels quickly as well as training new staff. Multi-Property is not only expected to boost the bottom line but also get Minor’s teams working together even more closely. Tighter knit teams will bring additional value, while owners will see immediate gains from rates and promotions pushed out centrally, more regularly and in an accurate and timely manner.