CoralTree Hospitality Group to Manage The Eddy Hotel in Golden, Colorado

USA, Denver, Colorado. June 25, 2019

Tom Luersen, president of CoralTree Hospitality Group, today announced that the company has been selected by Confluence Companies to manage The Eddy Hotel in Golden, Colo. Construction will begin shortly on the 49-room boutique hotel, which is expected to open summer 2021.

"This is an exciting new project for CoralTree," said Luersen. "Golden is an incredibly vibrant community - it's truly the gateway to the Rockies. With the whitewater playpark downtown, an emerging food scene and a welcoming spirit, it's the perfect place for a hotel like The Eddy. We are thrilled that Confluence selected us to help see the vision of The Eddy come to life."

The four-story hotel is located on the site of the old Golden Brick Works that dates back to the 1860s. The Eddy will capture the look and feel of the original brick works exteriors that the blend both a historic and industrial feel to provide a resort-like atmosphere. The interiors will be a mix of contemporary and vintage to create an updated yet very authentic local aesthetic. Conveniently located in Golden, the property will provide panoramic views of the Rockies.

The property also will offer flexible, customized meeting and event space for intimate gatherings and relaxed meetings. A locally sourced grab and go food service will be available in the lobby, which is designed to be an energetic gathering place. The Eddy will offer a bar that opens on to an outdoor patio. The property will include a fitness center as well as a rooftop garden and hot tub with views of the surrounding mountains. Accommodations will feature customized pantries on each floor and a variety of room styles so that each stay is unique and each room its own experience. This includes several rooms that feature bunk beds making it a convenient stay for families and friends traveling in groups.

The name, The Eddy Hotel, pays homage to the outdoor lifestyle that Golden is known for. Clear Creek runs through the heart of Golden and the whitewater playpark has become a draw for outdoor enthusiasts around the world. Eddies are a feature of rivers where the water is either calm or moving in the opposite direction to the flow of the river. Eddies provide a refuge for river enthusiasts, such as kayakers and whitewater rafters, to rest and scout the river below. The eddy is an apt metaphor for the City of Golden, which serves as a respite from the hustle-and-bustle of downtown Denver, while serving as a comfortable base for residents and visitors alike to plan their next adventure.

Confluence Companies is a vertically integrated developer, builder and property management company based in Golden, Colo. Confluence sets itself apart with its desire to create exceptional places to live, work and play. The company develops places that are sustainably designed, built with lasting quality and tell a story. Confluence takes pride in designing communities with an active lifestyle in mind with resort style amenities, concierge level of service, and lock and leave convenience.

Launched in January 2019, CoralTree Hospitality Group is a wholly-owned subsidiary of Los Angeles based Lowe. With 3,800 employees nationwide, Colorado-based CoralTree delivers distinctive, memorable experiences that celebrate the surroundings, culture and community of each property. The 15 hotels and resorts currently managed by CoralTree Hospitality Group include independent, branded and soft-branded properties such as Terranea Resort on the Southern California coast, the El San Juan Resort in Puerto Rico, Hotel Lincoln in Chicago and Hotel Talisa in Vail, Colo.

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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.