PNK Group Investments Begins Construction on Cambria Hotel Los Angeles - Spring Street in Downtown Los Angeles

USA, Rockville, Maryland. February 06, 2019

 Choice Hotels International, Inc. (NYSE: CHH) is excited to announce that PNK Group Investments has begun construction on the Cambria Hotel Los Angeles - Spring Street in Downtown Los Angeles. Slated to open in 2020, the 13-story, 180-room hotel is the adaptive reuse of a Historic Core District building built in 1927 that was once the office for the Los Angeles Police Department Vice Squad.

Located at 419 S. Spring Street, the hotel will be situated along Gallery Row, one of the city's top arts attractions, and within walking distance to Little Tokyo's shopping boutiques and trendy restaurants. The hotel will be close to a number of cultural and entertainment options, including Grand Central Market, Museum of Contemporary Art, The STAPLES Center, Dodger Stadium, L.A. Live, and the Regent Theatre DTLA.

"Downtown Los Angeles has experienced major revitalization in the past decade, making Spring Street an ideal location to meet the renewed interest in the growing area. Choice is committed to expanding the Cambria Hotels brand throughout L.A. and this hotel joins the already open Cambria Hotel LAX, with several other new construction hotels in development in Anaheim, Burbank, and Calabasas," said Janis Cannon, senior vice president, upscale brands, Choice Hotels. "With the recent relocation of high-profile company headquarters like Spotify and Warner Music Group, as well as the increase in local attractions, Downtown Los Angeles has reinvented itself as a destination for business and leisure travelers. We're excited for this Cambria Hotel adaptive reuse project to be a part of the renaissance."

PNK Group Investments was founded in 1982 and is based in Hollywood, Calif. The company engages in the acquisition, construction, renovation, and operation of hotels throughout California and Texas.

"Greater Los Angeles has always been a popular travel spot for U.S. and global travelers, and the Downtown area of this vibrant city is quickly becoming a top destination in its own right. The Los Angeles Convention Center attracts more than 2 million visitors annually and the city is exploding with new restaurants and shops catering to a diverse population," said Sagar Kumar, managing member of PNK Group Investments. "We cannot wait for guests to experience the one-of-a-kind transformed Cambria Hotel Los Angeles - Spring Street and all of the upscale amenities offered."

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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.