Cambridge Landmark Expands Hospitality Portfolio With Acquisition of Historic Boutique Hospitality Property, The Citizen Hotel in Sacramento, CA.

USA, Miami, Florida. August 19, 2019

Cambridge Landmark, a hotel-focused private equity company, recently announced that it has closed on the acquisition of The Citizen Hotel, a renowned 196-room boutique hotel located in Sacramento, CA. The hotel has been part of the Marriott Autograph Collection since 2015, and will retain that designation under its new ownership.

"This acquisition demonstrates Cambridge Landmark's focus on ownership-driven hotel investment with assets in prime U.S. domestic markets," said Pedro Miranda, co-managing partner. "This historic property in downtown Sacramento continues the growth of our portfolio," added Joao Woiler, co-managing partner.

The Citizen Hotel is a 196 room boutique property with more than 9,000 square feet of function space. The exterior of the building is an early 1900's classic design by architect George Selland. The interiors celebrate the history of California with unique decor that is whimsical with modern amenities. No two rooms are alike and all offer a different perspective of downtown Sacramento. The Citizen Hotel also features a farm to fork destination restaurant, Grange Restaurant & Bar, which has received national accolades and a Michelin Plate award.

Built in 1926 as one of Sacramento's earliest high rises, this one-time insurance building was reborn as The Citizen Hotel. Distinguish and refined, The Citizen enjoys a prime location just a short walk to the California State Capitol, and there is even a lending library with politically themed films.

Cambridge Landmark purchased the property from Platinum Equity and the terms of the transaction were not disclosed.

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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.