Developed and Owned by Baywood Hotels, Homewood Suites by Hilton Austin Downtown Opens in Central Texas

USA, McLean, Virginia. February 05, 2019

Homewood Suites by Hilton, part of Hilton's (NYSE: HLT) All Suites portfolio, announced today its newest property, Homewood Suites by Hilton Austin Downtown. Designed for guests who want to travel on their own terms, Homewood Suites by Hilton Austin Downtown offers guests all the comforts of home, whether they are traveling for work or enjoying a well-earned getaway. With 150 new suites, the hotel is a great addition to the city's thriving tourism, which has seen a 14.9 percent increase in traveler growth for the first two quarters of 2018 compared to the same time last year*.

“Located in the heart of the state capital, Homewood Suites by Hilton Austin Downtown is near top dining, shopping and business districts in the city,” said Rick Colling, global head of Homewood Suites by Hilton. “With offerings such as spacious suites and complimentary breakfast, this hotel provides a new extended-stay lodging option that guarantees convenience, comfort and value-added incentives for all types of visitors.”

Developed and owned by Baywood Hotels, Inc, Homewood Suites by Hilton Austin Downtown offers a combination of studio and one-bedroom accommodations, featuring fully-equipped kitchens and separate living and sleeping areas. Guests are also provided all the essentials needed for a smart, reliable and convenient stay including complimentary daily full hot breakfast, evening social Monday-Thursday, Wi-Fi and a grocery shopping service**. Homewood Suites by Hilton Austin Downtown also makes it easy for travelers to unwind with an outdoor rooftop pool with a view and fitness center. The property also offers 884 square feet of flexible space that is ideal for meetings and social events.

Located at 78 East Ave., Homewood Suites by Hilton Austin Downtown offers guests convenient access to local restaurants and is half a mile away from the Austin Convention Center. Guests can also check out the famous 6th Street Entertainment District just a mile away, and the property is a short drive to the University of Texas at Austin, the Texas Capitol and several parks and museums. Guests explore the biking and hiking trails at Lady Bird Lake or walk nearby to Rainey Street with unique food and beverage venues.

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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.