MCR Acquires 160-Room Hilton Garden Inn Providence Airport/Warwick at Rhode Island’s T.F. Green International Airport

USA, New York City, New York. July 23, 2018

MCR, the seventh-largest hotel owner-operator in the United States, has acquired the 160-room Hilton Garden Inn Providence Airport/Warwick at Rhode Island's T.F. Green International Airport (PVD), which serves 4 million passengers annually.

Since 2017, T.F. Green International Airport has added six new
carriers, many overseas routes and nearly 8 percent more passengers.
Ranked the sixth-best U.S. airport in 2018 by Money magazine,
PVD was praised for its on-time arrival rate of 82 percent. The
airport's growth is nonstop: In 2021, JetBlue founder David Neeleman is
expected to launch his start-up airline, Moxy, at T.F. Green.

The Hilton Garden Inn Providence Airport/Warwick is a 10-minute walk
to T.F. Green's terminal, which offers domestic service from Allegiant,
American, Delta, Frontier, JetBlue, Southwest and United. Norwegian
Airlines flies to Ireland, Northern Ireland and Scotland. Azores
Airlines provides seasonal service to Ponta Delgada and beyond.

“Rhode Island may be the smallest state, but it has one of the best
airports,” says Tyler Morse, CEO and Managing Partner of MCR. “Twenty
five percent of the U.S. population lives within 500 miles of PVD — and
when they're passing through Providence, we welcome them all at The
Hilton Garden Inn Providence Airport/Warwick.”

For those looking to get away from it all a little closer to home, the hotel is connected to the Iron Works Tavern, a community favorite housed in the historic 1867 R.I. Malleable Iron Works Factory building. There, locals and business travelers visiting the nearby offices of MetLife, UPS and Swarovski North America can raise a glass of Rise pale ale from the award-winning local Whalers Brewing Company.

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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.