Richfield to Reposition, Manage Property
support the Pittsburgh property through sales, e-marketing and revenue
management in order to increase top-line revenues
DENVER — November 1, 2004 — Richfield Hospitality, Inc., a company that provides a full complement of successful management services to a broad range of limited-service, full-service and resort hotels, has been retained by RIYA Pittsburgh LLC to manage its Four Points by Sheraton hotel in Pittsburgh, Pa.
Under the direction of Steve Cook, Richfield Director of Operations, and Scott Hall, property general manager, the 153-unit property will immediately undergo an extensive $1.5 million interior and exterior renovation, including all guestrooms, public spaces and 4,500 square feet of pre-function and banquet space.
“Richfield is pleased to continue its long-standing relationship with Starwood Hotels & Resorts Worldwide Inc. -- the Pittsburgh property is the third Four Points by Sheraton property within our portfolio,” said Aik Hong Tan, Richfield President. “Richfield’s distinctive understanding of the various franchise systems has lead to our success in maximizing our clients’ return on investment through the various brand programs and initiatives.”
Tan said that by taking full advantage of the resources available to RIYA Pittsburgh LLC through Richfield’s more than 30 years of proven, professional hotel management--including instituting specific marketing initiatives and revenue management strategies at the property level and implementing more-prudent forecasting processes--hotel owner Daxesh Patel in conjunction with Gary Patel will soon see the Four Points hotel thriving in the marketplace.
“Richfield’s reputation is impeccable,” Patel said. “Owners of some of the other hotels managed by Richfield have told us that the company is on the cutting edge of hotel-management innovation – generating quick results and identifying new investment opportunities. That’s exactly the type of business partner we needed to run our hotel.”
One of the first tasks that Richfield is challenged with is to strategically reposition this property in the marketplace and ramp up revenues, Cook said. In addition to its property-improvement plan, Richfield will implement a strategic revenue-management program and e-commerce initiative.
“Richfield’s dedicated Revenue Management and E-commerce Division is key in achieving these types of results for our client hotels because they focus daily on revenue yield techniques and maximizing revenues through all channels of distribution,” Cook said. “By using Richfield’s revenue-management approach, properties have seen RevPAR contributions increase by as much as $8 to $10. More important, many times these results were achieved within 60 days.”
Another way that Richfield plans to assist the Four Points Pittsburgh in increasing top-line revenues is through the hands-on services provided by Suzan Collins, newly appointed Corporate Director of Sales and Marketing. Collins will supervise the Four Points Pittsburgh property, along with eight other hotels, to ensure that they are consistently delivering results. She will evaluate market performance to assist in developing sales and e-marketing strategies for the property, measure the overall effectiveness of revenue-producing departments within the hotel, and ensure that such strategies are followed to ensure that RevPar indexes are being maximized.
“The travel industry – corporate business travel in particular – is changing,” Collins said. “The economy has been a challenge, to say the least, and has made identifying market trends quickly, even more important. In order to maintain or increase top-line revenues, we believe that we must provide as much support and training as possible for our hotels by developing and implementing creative ways to introduce and sell each property within each distinct market.”
Collins concurred with Cook, saying that Richfield’s dedicated Revenue Management and e-Commerce Division will clearly help the Four Points Pittsburgh to meet its immediate and long-term goals.
“Richfield’s strength in distribution management and on-line intelligence is just one of the many reasons why I joined the Richfield team, and why Richfield is beginning to see an influx in new management contracts from industry segments across the board,” she said.
All in the family
One of Richfield’s keys to success comes from hiring its executive managers from within – oftentimes at the property level. Prior to joining Richfield, Collins served as director of sales and marketing for one of Richfield’s properties in Los Angeles. In this role, Collins worked with e-commerce partners to significantly increase annual room revenues from $138,000 in 2002 to more than $1 million in 2003. Her 20-year hospitality sales career includes positions at The Radisson Hotel Maingate in Anaheim, Calif., and The Westin Bonaventure in Los Angeles.
Four Points General Manager Scott Hall also has been a valued Richfield employee for nearly 10 years, previously serving as general manager of The Wisp Mountain Resort Hotel, also a Richfield managed hotel, and several others.
“As a dedicated Richfield employee, I know that the right team is in place from a corporate and property perspective to reposition this hotel in the marketplace,” Hall said. “I am thrilled to be managing the Four Points Pittsburgh and know from experience that we will meet the owners’ objectives in a very short period of time.”
About Richfield Hospitality, Inc.
Richfield Hospitality, Inc., provides a full complement of successful management services to a broad range of limited-service, full-service and resort hotels. The company achieves superior operating results through intense focus of its strong commitment to guests, employees and owners. Through Richfield’s Operations Division, hotels can achieve significant buying power through Source, a procurement entity offering operating supplies and FF&E at discounted rates. Through Richfield’s Human Resources Division, hotels can have access to insurance and on-line risk management services. In addition, Richfield’s sister company Sceptre provides global reservations distribution, channel management and e-distribution advisory services. For more information on the recent growth of Richfield, and to look at its impressive portfolio of hotels, please visit www.Richfield.com.. Richfield Hospitality, Inc. is headquartered in Denver with approximately 1,000 employees. The company's shareholders include City e-Solutions Limited (CES) listed on the Hong Kong Stock Exchange, and Millennium & Copthorne Hotels plc, a U.K.-based company listed on the London Stock Exchange, operating 91 hotels worldwide.
Terri X. Radcliffe
Richfield VP, Sales & Marketing
5775 DTC Boulevard, Suite 300
Greenwood Village, CO 80111
Phone: (303) 220-2309
|Also See:||Revenue-Management Efforts Propel Top Line at Richfield-Managed Hotels / July 2004|
|Richfield Assumes Management of San Leandro Hilton Garden Inn / April 2004|
|Staybridge Suites Cherry Creek Signs Richfield Hospitality Inc./ March 2004|
|Richfield Readies Nashville Quality Inn & Suites for Repositioning and Grand Opening / March 2004|
|Richfield Releases Impressive Results for Diverse Portfolio of Managed Hotels / June 2003|
|Richfield Pursues Equity Investments / October 2003|