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ADR Up 4.2%, Occupancy at 79.6% |
| ASHEVILLE, N.C. (November 4, 2002) – The Grove
Park Inn Resort & Spa reports a record-breaking third quarter in 2002.
“We are extremely pleased with our revenue performance given the current
economic climate,” said Director of Sales and Marketing Jay Boyd. “We are
truly fortunate that The Grove Park Inn Resort & Spa is an excellent
drive-to destination for major metro areas like Atlanta, Charlotte and
Raleigh-Durham, all within a 300-mile radius.”
Total revenues for the resort were 15-percent higher than the previous best third quarter in 2001. “Major contributors to our revenue were our world-class spa and the restored Donald Ross golf course, both in high demand by our guests,” said Boyd. “Occupancy was strong and our ADR (average daily rate) experienced a 4.2 percent increase over the previous best third quarter in 2001. The resort’s third quarter occupancy rate remains strong, finishing with a very robust 79.6-percent. “Overall, the record third quarter speaks volumes about the quality people who work at The Grove Park Inn Resort & Spa,” remarked Boyd. “It’s a clear indication that our culture, values and overall vision is helping us reach the ultimate goal of becoming one of America’s truly legendary resorts.” “I believe that the underlying factor for our success is our staff’s ability to provide the guests with an outstanding resort experience,” states resort Vice President and General Manager, J. Craig Madison. “Our shareholder culture, values and overall vision is guiding us to our ultimate goal of becoming one of America’s truly legendary resorts. Our guest ratings remain strong and our repeat customer base is growing.” The Grove Park Inn Resort & Spa is a subsidiary of Sammons Enterprises based in Dallas, TX. The Grove Park Inn Resort & Spa is employee-owned whose ultimate goal is to become the largest such workplace in the country. The company envisions this goal by pioneering an industry-leading business, using high ethical standards, producing solid financial performance and a true Employee-Shareholder culture where every employee makes a difference. This employee-owned philosophy was succinctly phrased recently by Executive Housekeeper Wendy Avery, a winner in a recent essay contest for all Sammons Corporation employees. “Our success is not only measured in our accomplishments, but also in our character,” wrote Avery. “Employee-shareholders make a difference when they feel that they have been empowered to make a difference. Here at The Grove Park Inn Resort & Spa, we feel that empowerment.” The Grove Park Inn Resort & Spa has a local economic impact of approximately $400-million annually, according to the North Carolina Travel and Tourism Department. The Grove Park Inn is also on the National Register of Historic Places and is a member of the National Trust for Historical Preservation’s Historical Hotels of America. |
| Contact:
The Grove Park Inn Resort & Spa Jay Boyd, Director of Sales & Marketing (828) 252-2711 Ext. 5000 www.groveparkinn.com |