Maverick Hotels and Restaurants to Manage Crowne Plaza Chicago SW Burr Ridge

USA, Chicago, Illinois. July 15, 2019

Maverick Hotels and Restaurants, a full-service third-party hotel management company, announced today that it has been awarded the management contract for the Crowne Plaza Chicago SW Burr Ridge hotel in Burr Ridge, IL. Robert Habeeb, Founder and CEO of Maverick, made the announcement.

Located at 300 S Frontage Road, the newly renovated hotel features modern guest rooms complete with premium bedding, blackout drapes, 43-inch LCD televisions with premium channels, large desks with ergonomic chairs and free Wi-Fi internet access.

Other highlights include the hotel's popular Sip & Savor restaurant and bar which features a full bar and offers a complete hot breakfast buffet and creative, chef-driven cuisine; fully equipped health and fitness center; a sparkling atrium indoor swimming pool; and 8,000 square feet of meeting and banquet space.

The hotel is close to a variety of restaurants, unique shopping, world-class spas, and just minutes from downtown Chicago and both O'Hare and Midway airports and offers shuttles to the airports and surrounding areas.

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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.