AECOM Capital and Combined Properties Partner With Pendry Hotels to Develop Pendry West Hollywood

USA, Orange County, California. January 30, 2019

AECOM Capital, the investment arm of AECOM, and Combined Properties, a full-service real estate firm, announce the construction of Pendry West Hollywood and the Pendry Residences West Hollywood by Montage Hotels & Resorts, an approximately 300,000-square-foot development encompassing a full city block along the famed Sunset Strip in West Hollywood. Scheduled to open in 2020, the development occupies a prime location on Sunset Boulevard, providing guests and residence owners alike unparalleled views of Los Angeles and immediate access to West Hollywood's premier high-end dining, shopping and nightlife hotspots.

Located at the intersection of Sunset Boulevard and Olive Drive in the heart of the iconic Sunset Strip, Pendry West Hollywood will consist of 149 luxury guestrooms as well as 40 private residences. Guests and residence owners will have exclusive access to hotel amenities, including a private membership club, multiple chef-driven food and beverage outlets, a rooftop pool and bar, a multi-purpose live entertainment venue, a screening room, bowling alley, Spa Pendry and state-of-the-art fitness center. 

“We are excited to partner with Combined Properties and Montage International to introduce Pendry West Hollywood, destined to be a new icon on one of the world's most famous streets in Los Angeles, our headquarters' city,” said Michael S. Burke, chairman and CEO, AECOM. “West Hollywood is undergoing a cultural revival. We plan to leverage our design, development, and construction expertise to create an exclusive owner and guest experience unlike any other in the area.”

“We have assembled an extremely talented team - all of whom are intimately connected to the project and the Los Angeles market,” added Ronald S. Haft, chairman of Combined Properties. “We're passionate about designing a community experience for locals by locals and envision the project as a hospitality and entertainment anchor of West Hollywood's reputation as a world-class creative destination.”

“We are pleased to join forces with AECOM Capital and Combined Properties to bring Pendry Hotels to West Hollywood,” said Alan J. Fuerstman, founder, chairman and CEO of Montage International. “Pendry West Hollywood is destined to be an iconic hub on the renowned Sunset Strip, marrying the gracious service of Pendry with the vibrant and dynamic culture of the community.” 

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Revenue Management: Focus On Profit

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.