Kimball Investment and Woodbury Corporation Open New TownePlace Suites by Marriott in Downtown Salt Lake City

USA, Salt Lake City, Utah. January 29, 2019

Kimball Investment Company and Woodbury Corporation today announced the opening of a new TownePlace Suites by Marriott in downtown Salt Lake City.

Located at 135 West 200 South, the 95-suite hotel is situated directly across from the main entrance of the Calvin L. Rampton Salt Palace Convention Center, making it an ideal and convenient option for the hundreds of thousands of visitors that attend conventions, exhibitions and other events at the center each year. It is also at the core of the central business district, and within walking distance from many of the downtown area's other attractions, including Temple Square, the Eccles Theater, the Gallivan Center and the Vivint Smart Home Arena.

“This exciting Marriott extended-stay hotel is in an ideal location and has wonderful amenities,” said Guy Woodbury, senior vice president of hospitality at Woodbury Corporation. “Whether it's for a one-night stay or a month-long trip, this new TownePlace Suites is perfect for people who are coming in for training classes, consulting projects, conventions, or who just want to see the sights of Salt Lake City.”

Designed for travelers who need accommodations for longer stays—or who just crave the comforts of home—this new property offers suites with fully-equipped kitchens that feature stainless steel appliances and quartz countertops, as well as separate living and sleeping areas. Most rooms also include the Home Office™ Desk, designed to provide guests with plenty of storage and flexible space to spread out and make it their own. Additionally, all service team members are thoroughly trained on the local area, and a large TowneMap® helps guests instantly acclimate to Salt Lake City by featuring great places to eat, play and explore.

“We are excited to introduce the TownePlace Suites brand to the downtown Salt Lake City area,” said Diane Mayer, vice president and global brand manager of TownePlace Suites. “We want to go above and beyond and do everything we can to make our guests feel comfortable by providing a seamless residential atmosphere with a friendly staff. That is what our brand is all about, and this property is a great example of that.”

Kimball Investment orchestrated this development and partnered with Woodbury Corporation, which will manage the hotel. Beecher Walker Architects designed the project and Rimrock Construction was the general contractor.

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Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.