Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR

USA, Chicago, Illinois. February 05, 2019

Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. 

This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional management the buyer should be ideally positioned to further penetrate the market and expand its presence along the Oregon coast. 

“The Southern Oregon coast continues to experience growth due to an expanding Oregon population and escalating costs in coastal California. Retirees and leisure travelers from neighboring states are seeking similar characteristics to coastal California communities and the Southern Oregon coast offers this at a fraction of the cost. In addition, southern Oregon populations continue to expand adding further demand for accommodations along the coast”

This transaction contributes to PLA's activity in the Western U.S. and represents the sixth closing in recent months with two additional deals that also closed in Q4 2018.

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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.