Hawkeye Hotels Acquires SpringHill Suites Shreveport-Bossier City/Louisiana Downs

USA, Bossier City, Louisiana. February 05, 2019

Iowa-based firm Hawkeye Hotels has acquired the SpringHill Suites Shreveport-Bossier City/Louisiana Downs, a Marriott hotel in Bossier City, LA. This is the company's third Louisiana property. Hawkeye Hotels also acquired the Hilton Garden Inn in Baton Rouge and the Hotel Modern in New Orleans, which will soon re-brand as a Holiday Inn Express.

Located within three miles of both Barksdale Airforce Base and the Cyber Innovation Center, the property sits in front of Harrah's Louisiana Downs Casino and Racetrack. It is visible from both Interstates 20 and 220. The Red River District and the Louisiana Boardwalk are also in close proximity.

"This is the third Louisiana region where we have had the chance to work, and it has been a pleasure to develop a partnership with the city and other local stakeholders," said Samir Patel, Senior Development Manager for Hawkeye Hotels. “We see this particular SpringHill Suites as an exciting opportunity to help the Bossier City area continue to meet high demands for lodging."

With 150 guestrooms across 81,600 square feet, the SpringHill Suites also includes an indoor pool, fitness center, business center and free high-speed wireless internet. Hawkeye Hotels plans to oversee minor indoor renovations, in addition to surface repairs to the building's exterior.

Bossier City is the sister city of Shreveport, which lies just across the Red River. The Shreveport-Bossier City community is home to a large number of health systems, such as the Louisiana State University Health Sciences Center Shreveport, and several educational institutions, such as Louisiana State University Shreveport, Centenary College of Louisiana and Northwestern State University. The area also serves as a major hub for the film industry.

SpringHill Suites by Marriott is the upper moderate tier, largest all-suites style brand and consistently ranks among the top Marriott brands in guest satisfaction.

The transaction was brokered by Avison Young of Toronto.

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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.