Holiday Inn Express & Suites
Algonquin, Illinois
Core Competencies
Acquisition | Construction & Renovation | Asset Management | Hotel Management
Challenges
Acquisition of an underperforming, tired product during a recession period
Solutions
- Elevated the product offering by installing in-house maintenance and engineering plans, bringing the hotel into compliance with IHG
- Implemented an in-house IT team to upgrade all technology infrastructure, streamlining costs
- Contested significant property taxes and negotiated property insurance through a master policy to drive significant cost savings
Results
- Renovation of the Year for North America Award, 2011
- Increased revenues from $1.2 million to $2.2 million and NOI from $300K to $700K
- Grew market share by 120% in the first 90 days since acquisition
- Created engaged employees through stronger training programs