Sam Moon Group Begins Construction of Hyatt House in North Houston’s Metropark Square

USA, Dallas, Texas. June 26, 2019

Sam Moon Group announces the commencement of construction for a Hyatt House extended stay hotel at the Metropark Square mixed-use development in Shenandoah, Texas. The 5-story, 148-room hotel is slated to open in November 2020.

The hotel developer is Sam Moon Group; contractor is VCC and architect is Type Six. The senior lender for the project is Veritex Community Bank and Bedrock Group raised EB-5 Funds for the construction of the Hyatt House Metropark Shenandoah/The Woodlands.

"We are excited for the closing of financing and to begin construction with our partners VCC on Hyatt House Metropark Shenandoah/The Woodlands," said Shane Williams, vice president of construction, Sam Moon Group. "Hyatt House is one of the best extended stay upscale brands and we cannot wait for future guests to experience true luxury in Shenandoah and The Woodlands area."

Joining a slate of highly anticipated restaurant, retail, and entertainment offerings, Hyatt House Metropark Shenandoah/The Woodlands will feature residentially inspired studios, one- and two-

bedroom suites with fully equipped kitchens and separate living guestrooms, a fitness room, and a pool. The extended stay hotel will boast amenities and services including indoor and outdoor social spaces, an H BAR with craft cocktails and freshly prepared meals, a lounge resembling living spaces of today's modern home and several multi-purpose areas.

"Sam Moon Group was very excited to team up with Veritex Community Bank in the early stages of this project," said Williams. "We developed a great relationship with Jason Worley, senior vice president of Veritex. We saw early in the loan origination that Worley and Veritex would be great partners to work with and we look forward to working with them again on future projects."

The hotel will be part of Metropark Square, an upscale development north of Houston in Shenandoah and The Woodlands trade area. Metropark Square recently opened a new 10-screen AMC movie theater and will also include a Dave & Buster's, a central green space area that will include a pavilion to host various events throughout the year, residential housing, restaurants and retail.

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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.