News for the Hospitality Executive
Raleigh, NC (AllianceHospitality.com) October 31, 2012 - Alliance Hospitality, a leading 3rd party hotel management company based in Raleigh, North Carolina, today announced very strong fiscal results for last quarter. According to data released by Smith Travel Research, Alliance Hospitality revenue per available room increased 6.4-‐percent compared to last year, surpassing both the U.S. hotel market average growth of 5.2-‐percent and the competitive sets growth of 0.9-‐percent for the quarter. The revenue growth of Alliance Hospitality hotels was fueled by a 1.4-‐percent rise in occupancy coupled with a 5.0-‐percent lift in average daily rates.
The increase in revenue occurred across multiple vertical and geographic markets, however a significant portion of the increase is attributed to an 18.7% increase in revenue from transient negotiated accounts and a 17.2% increase in revenue from group business at the hotels. These two segments combined represent more than one-‐third of the revenue generated for the quarter. Ryan Gosdin, Vice President of Sales & Marketing commented, “We are very pleased to report our exceptionally strong operating results generated through solid rate growth and aggressive targeting of business travelers and group business at our hotels. The power of our industry-‐leading sales platform at Alliance Hospitality is evident by our increases in market share and through our persistent strength in group booking pace.”
Solid top-‐line revenue performance allowed the organization to increase gross operating profit for the portfolio by 6.9-‐percent for the quarter. This improvement in operating margins allowed net income to rise by 18.6-‐percent compared to the same period last year. Alliance Hospitality implemented a state-‐of-‐the-‐art hotel accounting platform with cloud-‐based technology earlier this year that provides instant access to current financial data to the hotel management team and the corporate support staff, further improving the operational efficiency and increasing margins at the hotels.
Remarking on the third-‐quarter fiscal performance of the Alliance Hospitality portfolio of hotels, Rolf Tweeten, Chairman and CEO said, “As the economy continues along its prolonged recovery path and demand from business and leisure travelers grows, we recognize the importance of strategic revenue management combined with a knowledgeable and competent sales and operations teams. I am confident that my team will continue to push our hotels to exceed industry benchmarks and surpass the expectations of our owners and investors.” For more information on Alliance Hospitality, please email email@example.com.
About Alliance Hospitality
Alliance Hospitality is an innovative next-‐generation hospitality management company, headquartered in Raleigh, North Carolina. Alliance was founded in 2003 to manage lodging assets for institutional investment groups, individual owners and lenders. Alliance Hospitality provides value by developing the highest caliber hospitality professionals, and through implementing proprietary tools and unique processes to create a comprehensive hospitality management system. The Alliance portfolio of full-‐service, extended stay, all-‐suite, and select service hotels includes hotels operating under agreements with Marriott, Hilton, IHG, Carlson, Wyndham, Choice, and Starwood as well as Independent hotels.
This press release contains "forward-‐looking statements" that involves risks, uncertainties and assumptions. Forward-‐looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. These forward-‐looking statements include the quotations from management in this press release, as well as any statements regarding Alliance Hospitality's strategic plans and future guidance. Forward-‐looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Since forward-‐looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-‐looking statements. Important factors that could cause actual results to differ materially from those in the forward-‐looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions. Any forward-‐looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
2012 Alliance Hospitality Mgt. LLC. All rights reserved. ©
Prompts Alliance Hospitality Move to New Headquarters in Downtown
Raleigh; Top hospitality management company, Alliance Hospitality,
positions for growth with expanded offices in downtown Raleigh. /
Hospitality Surpasses Industry Expectations with Fiscal Performance
Released in 2011 Financial Results; Portfolio of Alliance Hospitality
managed hotels surpasses results of competitors with 19.8 percent
higher growth in revenue per available room for the year and exceeds
U.S. Average RevPAR Growth by 18.3 percent. / January 2012
Hospitality to Manage the 156-suite Comfort Suites Atlanta Downtown
Convention Center in Georgia / January 2012
Hospitality to Manage the 110-room Hilton Garden Inn Kankakee in
Illinois / November 2011
Hospitality Inc. Purchases the 64-room Best Western Plus Franklin Park
Suites - Polaris in Columbus, Ohio / October 2011
Hospitality Chosen to Manage the 142-room Hilton Garden Inn Shreveport
in Louisiana / August 2011
and Alliance Hospitality Open the New 104-room Holiday Inn Express in
Columbus, Ohio / August 2011
|IHG to Open Newly Renovated 87-room Holiday Inn Express Medical District in Springfield, Missouri Owned by JKD, Inc. and Managed by Rolling Oaks Hospitality; Property will Showcase Features of the Brand's Worldwide Relaunch Program / August 2011|
Hospitality Names Steve Huey as Director of Sales at the Doubletree by
Hilton Dallas Market Center in Texas / July 2011
|Luckey’s Management, Inc and IHG Complete Renovation and Re-Launch Project for the New 77-suite Holiday Inn Express Fort Lauderdale Airport-West, formerly the Comfort Suites, in Davie, Florida / July 2011|
|Jayson's LTD and IHG Open the 104-key New-build Holiday Inn Express San Antonio NW Near SeaWorld in Texas / June 2011|
|Pinnacle Hospitality Partners & IHG Open the Holiday Inn Express Nashville West I-40/Whitebridge Rd, Formerly the Baymont Inn, Following $1.5 million Enhancement / June 2011|
|Best Rest Management and IHG Open the 123-room Holiday Inn Express San Diego Airport - Old Town Following a $2 million Conversion / June 2011|
Hospitality Management Names Barry Shatoff of Hilton Garden Inn New
York General Manager of the Year and Stacey McGee of Hilton Garden Inn
Atlanta North/Alpharetta Director of Sales of the Year / March 2011
LLC Selects Alliance Hospitality Management to Operate the 156-room
Clarion Hotel and the 65-room Holiday Inn Express in Kalamazoo,
Michigan / February 2011
|D&D Lodging Selects Alliance Hospitality to Operate its Hilton Garden Inn in O’Fallon, Illinois / April 2010|