Lifsey and Pinnacle Plan June 2019 Opening of Current, a New-Build Boutique Hotel as Part of Marriott’s Autograph Collection

USA, Tampa, Florida. May 13, 2019

Development company, Lifsey Real Estate & Holdings, and Pinnacle Hotel Management announced today the opening of their joint venture - the new-build Marriott Autograph Collection Hotel - Current. The contemporary boutique hotel, specifically designed to offer guests sweeping views of the Bay from every room, is projected to start taking reservations this summer.

Current is a ten-story, 4-star hotel with 180 luxuriously appointed guest rooms. Amenities include but are not limited to a water-facing 9th-story fitness center, infinity-style pool, a full-service restaurant, Tampa Bay's tallest rooftop bar, and a 2,300 square-foot ballroom. Guests also have access to a private beach with complimentary water sports equipment and firepits.

The restaurant, Julian, is housed in the first-floor lobby area and named after the Lifsey family patriarch, Julian Lifsey. It will offer lunch and dinner, featuring internationally-inspired small plates with a focus on incorporating the freshest local ingredients available. The hotel is also home to Rox, a rooftop lounge on the 10th floor, overlooking Tampa Bay's skyline, with a floor-to-ceiling glass atrium, and open-air terrace.

Chef Andrew Basch, former executive chef of the Marriott Suites Sand Key and Watercolor Grill House, leads all culinary activity throughout the hotel. With more than 20 years in the hospitality industry, Basch challenges mainstream food and beverage concepts, serving innovative, carefully crafted dishes and creating memorable dining experiences for guests and visitors.

"Current has been a very personal, longstanding project for myself and my family, and we are proud to finally see our vision come to life," said President of Lifsey Real Estate & Holdings, Stan Lifsey. "It's rooted in history but also embraces the present by staying current, and that's what makes it a stand-out in the Tampa Bay area."

True to its name and design, Current is home to a rotating art gallery showcasing local artists' work. All art is curated by the Lifsey family, and seven pieces by the late Theo Wujcik are currently on display and throughout the hotel, as well as a sculpture by Mark Aeling with MGA Sculpture Studio. The first exhibit will feature work by abstract expressionist Alberto Murillo, whose art is also featured in a number of selected collections including the Givenchy Family Collection, among others.

Current embraces the Tampa Bay community every chance it can, incorporating local elements into the hotel itself. Oxford Exchange, a dining and retail establishment near Downtown Tampa, has curated the hotel's retail space, and local coffee roaster Buddy Brew will manage Current's lobby coffee bar.

Offering guests panoramic views of Tampa Bay, Current is ideally situated on the edge of Tampa's business district, approximately five minutes from the Tampa International Airport and ten minutes from Downtown Tampa. Its positioning allows easy access to the area's many idyllic beach destinations and corporate headquarters in Clearwater and St. Petersburg.

"An urban oasis, Current is authentically unique, showcasing Tampa Bay's best assets." said Pinnacle's Vice President of Operations John Marks. "We are proud to be a part of a development that values and supports this community and its economy."

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Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.