Phoenix American Hospitality Adds Residence Inn by Marriott Cape Canaveral Cocoa Beach to Growing Portfolio

USA, Dallas, Texas. April 08, 2019

Phoenix American Hospitality has acquired an interest in a new hotel, the Residence Inn by Marriott Cape Canaveral in Cocoa Beach, Florida, and took over management of the property on March 28, 2019. With the addition of this hotel, Phoenix American Hospitality now owns 17 hotels nationwide. All 17 hotels are managed by PAH Management.

Located just one mile away from Port Canaveral, the Key West style hotel is conveniently located near popular South Florida attractions, including Cocoa Beach Pier, Kennedy Space Center, NASA and Canaveral National Seashore.

In addition, PAH Management will begin a $4.5 million property-wide renovation. The renovation will include the revitalization of all guestrooms, public areas, lobby, exterior areas updates and a new expanded fitness facility. The property updates are slated to begin Fall 2019 and will be completed early 2020.

"We are very excited to add another Florida property to our growing portfolio," said Perch Nelson, President of Phoenix American Hospitality."We look forward to a successful partnership and enhancing the performance of each property."

The Residence Inn by Marriott Cape Canaveral Cocoa Beach is located at 8959 Astronaut Boulevard, Cape Canaveral, FL 32920. For more information, please click here.


/ SLIDES

About PAH Management

Media Contact:

Amy Wood
Account Coordinator
MCA Group
T: 214-654-0402
E: Amy@mcaprgroup.com
W: http://www.mcaprgroup.com

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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.