BPM & Company targeted the investment after its analysis showed that the existing property manager was not fully capitalizing on the diversity of demand generators in and around Southern Pines. New property level management, an investment in on site sales and a $2.35 million renovation of both the rooms and the public space completed within 24 months of acquisition allowed the team to maximize the Hotets potential.
BPM & Company targeted the investment after its analysis showed the existing Manager was not taking full advantage of the IHG system's potential production, was not executing on property lever sales opportunities and was following a revenue management strategy that did not reflect the rate elasticity in the market. Asset level changes were effectuated by a new property level management with a strong back ground in working with IHG (Griffin Hotel Management), an investment in in-market sales with The Sales Office, and a $1.1 million room & public space renovation completed within 24 months of acquisition propelled the asset to deliver in its potential.