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Case Studies

Holiday Inn Express and Suites New Orleans Airport South

Opportunity

Rebranding of an Underperforming Asset

Action

Situation

The 128 key Ramada - New Orleans Airport was sold to investors who hired Expotel to research the best available brand flag for the property and to negotiate franchise licensing terms. Expotel would then be tasked with completing a major PIP for conversion of the hotel into a Holiday Inn Express and to manage the property with the goal of retaking market share and returning the hotel to profitability after only breaking even the year before the sale.

Action

Expotel Hospitality deployed its best up-and-coming managers with strong IHG experience to take over management of the property and to implement Expotel's systems and operating procedures. At the same time, a task force was assembled to execute the renovation plans. Expotel's decades of experience as an owner and developer of hotels enabled it to bring a talented project team to ensure a swift, efficient, and economical renovation was completed that made significant positive guest impact.

Outcome

During the first nine months, Expotel was able to grow the hotel's revenues 218% and in the first full year after the transaction the hotel enjoyed an increase in NOI of 550%. Improvements in revenue management, sales, and operations enabled the owners to enjoy net income even while under renovation and before the conversion to Holiday Inn Express was completed. As shown in the chart below, the hotel enjoyed dramatic increases in revenues and profitability.

Results

  
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Maison St. Charles

Opportunity

Turnaround of the Maison St. Charles

Action

Situation

The 128 key New Orleans Garden District hotel, Maison St. Charles, was not meeting the profitability expectations of the owners. The ownership had lost confidence in their management at the time, Aimbridge Hospitality, and so they decided to make a change.

Action

Expotel Hospitality was engaged by the owners to take over operation of the Maison St. Charles. Expotel approached the asset in a much more entrepreneurial way than the much larger, former operator implementing creative sales & marketing, aggressive revenue management and e-commerce strategies, and a focus on guest experience that drove more positive online reviews. Simultaneous to revenue growth, Expotel focused on reducing both departmental and undistributed expenses.

Outcome

Improved revenue management and e-commerce strategies made an immediate impact growing revenue 29% in the first year followed by 32% in the second year. While revenue grew, the expenses were reduced resulting in GOP growth that was doubled every year the first three years.

Results

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Sheraton Crescent Phoenix

Opportunity

Repositioning of 342 Key Conference Hotel in Phoenix, Arizona

Action

Situation

The Sheraton Crescent Phoenix had just sold, and the new owners elected not to keep Starwood Management and engaged Expotel to renovate the property and remain as operator. The property had recently a major piece of government contract business to a newer competitor and was finding it difficult to find new business or take market share.

Action

Expotel Hospitality immediately implemented an aggressive direct sales program and quickly lined up commitments contingent upon completion of the renovation. At the same time, a task force was assembled to execute the renovation plans. Expotel's decades of experience as an owner and developer of hotels enabled it to bring a talented project team to ensure a swift, efficient, and economical renovation was completed that made significant positive guest impact.

Outcome

Eighteen months after the transaction had closed and Expotel had stepped in, the property rose form #72 of 149 hotels on TripAdvisor to #17. The renovation successfully completed, Expotel's sales force secured major new clients including Honeywell to more than replace the previously lost government business. In spite of room revenue declines during the renovation in year two as shown in the graph below, Expotel was able to maintain steady Gross Operating Profit and then grew both revenues and profits tremendously in the first year immediately following the renovation.

Results

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Holiday Inn New Orleans Airport North

Opportunity

Planning and Completion of a New Hotel Development Project

Action

Situation

Expotel's client wished to invest capital into a low-risk hotel development project in the greater New Orleans hotel market that would produce a high rate of return on investment (ROI). The investor contacted hotel companies in the New Orleans area, and recognizing Expotel's decades of hotel planning and development experience, chose Expotel to advise and consult on the hotel planning and development followed by opening the hotel and operating it long term.

Action

Expotel Hospitality leveraged its extensive network of contacts to find hotel sites, evaluate hotel sites, and recommend to client the most strategic hotel site. Expotel suggested a TIFF to provide favorable tax advantages and improve cash flow for the future hotel. Expotel's team completed application for and successfully attained a substantial TIFF from the local government. Expotel supported the investor throughout the design process by providing technical review of design choices and offering ideas for innovation and cost savings. Expotel led the entitlement and permitting efforts, franchise application and compliance, and ultimately completing the project and getting a certificate of occupancy so that the property could open.

Outcome

The new 121-room Holiday Inn opened in June 2017 and quickly ramped up to profitability. Shortly after opening, Expotel identified a regional, fast casual restaurant chain to lease the restaurant space and turn an unprofitable F&B outlet into a profit center. The hotel quickly rose to top ranking on TripAdvisor and in IHG brand guest satisfaction scores.

Results

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