Hotel owner, operator and developer Hotel Equities has reported noteworthy performance growth in 2023 year to date, significantly surpassing 2019 benchmark levels.
By focusing on key performance indicators (KPIs), the company has achieved performance results surpassing 2019’s enterprise RevPAR by 20% and 2022’s by 26%.
These achievements can be attributed to several initiatives implemented by the company’s revenue generation team led by Kevin Fraser, SVP, sales & revenue generation, and Bill Stachler, VP, revenue optimization.
“Our team is united in our focus on finding the right business, at the right time, at the right price point while continuing to shift market share away from our competition and providing service that is realizing strong customer retention,” said Fraser.
Stachler added, “With our strong occupancy premiums, we will continue to look at ways of maximizing our ADR across all market segments.”
Recognizing and adapting to trends and changes in guest behavior influence performance and that’s a significant part of HE’s strategy, according to Stachler. He also acknowledged the value of the company’s investment into its business intelligence tools, being a noteworthy advantage lending his team the ability to make game-time decisions based on real-time data and performance.
