News for the Hospitality Executive
Aimbridge Hospitality Awards Properties, Personnel for
Patti Patenaude and Dave Pappas Named ‘GM of the Year’
DALLAS, TEXAS — MAY 6, 2008 — “Take Aim5” was the theme for the fifth annual Aimbridge Hospitality Management Conference, recently held in Glendale, Calif. More than 220 general managers, director of sales, catering managers, revenue managers, and corporate staff convened at the Hilton Glendale to celebrate five years of outstanding growth – building its portfolio from 8 hotels in 2003 to 50 hotels in 2008 – and fortify its solidarity.
“Five years ago, the hospitality industry was in turmoil – we were 1.5 years out from Sept. 11 and owners were faced with declining revenue growth,” Aimbridge Hospitality Chairman Les Bentley told attendees. “We knew, however, that turmoil provides the best opportunity for growth, and capital markets gravitate to those companies that perform – and with your assistance, we performed magnificently!”
Dave Johnson, Aimbridge Hospitality President and CEO, reported the company has doubled in size each year since its start, thanks to its dedicated property managers (including all revenue generators), talented corporate team members, and valued capital partners and brand affiliates. Vince Cuce, Aimbridge Hospitality Senior VP Finance, said the company opened with $5 million in revenue and today revenues top $298 million – a 71% revenue increase from 2007, and a minimum 50% growth in revenues each year beginning 2003.
Aimbridge Hospitality presently owns or operates 44 branded and independent
hotels that are open or expected to open, and six properties are in development.
Revenue-management expertise, strategic e-marketing programs, rate-quoting
empowerment, brand resource support, a proactive sales culture, and cross-selling
opportunities have all been contributors to its success.
People, Properties Honored for Contributions
To recognize the outstanding performance at the property level, 33 awards for exceptional performance were presented during the event.
“2007 Hotel of the Year” was presented to the Doubletree Hotel San Pedro in California, honored for achieving a 60.6% RevPAR growth, 28.2% food & beverage growth, and an 86.6% growth in profits. The Phoenix Inn Suites Hotel Tigard in Oregon also shares this title due to its 22.4% RevPAR growth and 66.9%t profit growth. Both properties ranked in the Top 10% of Aimbridge’s Employee Opinion Results, and each received the “President’s Award” for market share excellence.
“General Manager of the Year” was awarded to Patti Patenaude of the Hilton Garden Inn - Dallas Market Center, and to Dave Pappas of the Phoenix Inn Albany in Oregon. Patenaude was recognized for her outstanding property turn-around effort. In nine months she converted a deficit to a year-end finish of 5.4% revenue growth and a 9.3% GOP growth. This represents a total 128.6% positive flow through of new profit over the prior year. In addition, she increased service scores from 10% to 50% within her first 90 days at the property. Pappas was honored for helping in the promotion of five of his employees and for increasing total revenues by $450,000. The properties GOP was up $312,000, representing a 53% increase over the previous year. Both hotels received the “President’s Award” for market share excellence.
“President’s Award” is bestowed on property’s that have exemplified market share excellence. Winners include: Doubletree Hotel Brookfield, Doubletree Hotel Charlotte, Doubletree Hotel Schaumburg, Embassy Suites Dublin, Embassy Suites Tampa, Marriott Chicago at Burr Ridge, Phoenix Inn Vancouver, Wyndham Hotel – O’Hare, Wyndham Garden Hotel Overland Park, Doubletree Hotel Novi, Hilton Glendale, and Embassy Suites, Deerfield.
Additional honorees included:
About Aimbridge Hospitality
Aimbridge Hospitality is a hotel real estate and management company created to identify investment opportunities throughout the United States. Aimbridge provides management, asset management, capital renovation, supervision, accounting and consulting services for its strategic partners. Aimbridge currently operates hotel properties in the Embassy Suites, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Sheraton, Hyatt and Wyndham brands. Aimbridge also manages a number of independent hotels, including the Phoenix Inn & Suites brand of hotels and has several projects under development in the Starwood, Marriott and Hilton enterprises. For more information on Aimbridge Hospitality, please visit the company’s Web site at www.aimbridgehospitality.com.
|Also See:||Aimbridge Hospitality to Manage aloft Chicago O’Hare for Continental Properties Company Inc. / April 2008|
|Apollo Real Estate Investment Fund V, L.P., Aimbridge Hospitality, L.P. and JF Capital Advisors, LLC Complete Merger with Eagle Hospitality Properties Trust, Inc. / September 2007|