Alliance Hospitality Shares 2013 Results and Provides the Hotel Management Company’s Outlook for '14
March 25, 2014 3:52am
Rolf Tweeten, Chairman, reports another great year for Alliance Hospitality as the managed portfolio of hotels outpaced the growth experienced by competitors and hospitality industry norms for 2013.
March 25, 2014 - Alliance Hospitality has released operating results for 2013. The Company's results included the following:
Alliance Hospitality RevPAR Growth 6.3%
Competitive Set RevPAR Growth* 2.5%
US Average RevPAR Growth* 5.4%
Alliance Same-Property EBITDA Growth 12.5%
Data provided by Smith Travel Research
"We're very pleased with the superior performance of our hotels in 2013. This was a milestone year as Alliance Hospitality celebrated its 10th anniversary of operating as a third-party management company. We are very proud of this accomplishment in a business environment where many names have changed, Alliance Hospitality has remained focused on its mission to provide the highest caliber of hospitality management services to our investors, owners, and institutional partners," said Rolf Tweeten, Chairman of Alliance Hospitality. "Our experience with superior quality hotel assets in high barrier to entry markets and hotel brand repositioning will prove even more valuable as we move into 2014 and beyond under the new leadership and direction of industry veteran EJ Schanfarber, who earlier this year accepted the role of President & CEO of Alliance Hospitality. Our knowledgeable and accomplished associates have always been our most prized asset at Alliance Hospitality, and EJ will capitalize on this core strength as we enter the largest cycle of new hotel acquisitions and development our organization has experienced yet."
Based on the Company's 2013 results, and the continued improvement in the operating performance of the Company's hotels, Alliance Hospitality projects 2014 will experience the highest annual increase in gross operating profit margin. This record-setting pace will establish a new benchmark for the hospitality industry as average daily rate levels normalize from the extended economic downturn previously experienced.
"The fundamental economic drivers of the hospitality industry strengthened further in 2013, as demand outpaced supply by a significant margin, allowing for significant premiums in average daily rates across all industries," said EJ Schanfarber, President & CEO. "Alliance Hospitality has always been recognized as a leader in the hospitality sector with its superior competitive performance. As we move throughout 2014, the portfolio growth through our institutional investors and equity partners in prime urban markets will enhance the prestige of the Alliance Hospitality name. The continuing improvement of the U.S. hotel industry, particularly with corporate group and business transient segments, combined with limited supply increases in premium markets will allow for record results in 2014. Competitive performance will be the key factor in delivering the best financial results for hotels, which is and continues to be Alliance Hospitality's greatest strength."
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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, Choice and Starwood as well as independent hotels.
Contact: Rolf Tweeten
+1 9196019589 or 9197911831
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