Banyan Investment Group Acquires and Will Operate 110-Room Courtyard by Marriott Houston Pearland in Texas

USA, Houston, Texas. July 17, 2019

Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas.

"We continue to seek institutional quality assets, such as the Courtyard by Marriott Houston Pearland, in major markets with numerous demand generators," said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. "The hotel benefits from its location within Pearland Town Center, a popular mixed-used development with 937,000 square feet of open space location within the South Houston marketplace that includes 140 specialty stores, 234-unit apartment complex building and more than 50,000 square feet of office space. The hotel requires minimal capital expenditures, and we are confident the property will achieve its economic objectives with immediate cash flow."

Situated in the Pearland Town Center at 11200 Broadway Street in the "Energy Capital of the World," the five-story hotel is just 15 minutes from NRG Stadium (home of the NFL's Houston Texans) and within 20 minutes of the Texas Medical Center, downtown Houston and William P. Hobby International Airport. All guest rooms, which underwent a recent renovation in 2016, contain luxurious linens, pillow-top mattresses, complimentary high-speed Internet access, refrigerator work desk, 32-inch HDTV and microwave. The hotel also provides meeting space for up to 60 people, business center, 24/7 fitness center and outdoor pool. Guests are invited to dine at The Bistro, serving breakfast and dinner daily, or to pick up quick bites and coffee at the hotel Starbucks.

"Home to some of America's largest corporations, including Philips 66 and Sysco, Houston is well on its way to becoming the third largest city in the United States," Chopra added. "We appreciate the economic diversity provided by South Houston's submarkets, and Pearland particularly stood out due to its standing as the fastest growing suburb in one of the fastest growing MSAs in the country."

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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.