AWH Partners Acquires Newly-Renovated DoubleTree by Hilton Albuquerque

USA, New York City, New York. September 02, 2019

AWH Partners, LLC, a privately held real estate investment, development and management firm, announces the acquisition of DoubleTree by Hilton Albuquerque, marking more than a dozen Hiltons and over 1,500 DoubleTree keys acquired across the United States - and the first hotel purchased in the growing New Mexico market - for the investment firm. Located in the heart of Albuquerque's Central Business District, the newly-renovated DoubleTree is the only hotel directly connected to the 300,000 square-foot Albuquerque Convention Center, giving the property a strategic competitive advantage over other full-service hotels in the area. Spire Hospitality, AWH's full-service hospitality management company, is now managing the 295-room DoubleTree Albuquerque and will begin implementing core strategies, leveraging the ownership and management companies' breadth of experience with the brand to grow operating revenues and profit margins.

"DoubleTree Albuquerque completed a multi-million-dollar renovation in 2018, including all guestrooms, public spaces and meeting rooms, and offers exclusive access to the Albuquerque Convention Center, which also recently completed a $23M+ restoration," says Russ Flicker, principal of AWH Partners. "The product and its location, coupled with the robust market growth, a healthy convention calendar and the hotel's proximity to tourism hot spots in Albuquerque, indicate we will continue seeing the significant upward momentum this property has seen since its renovation."

Poised in the heart of downtown, DoubleTree by Hilton Albuquerque's contemporary design features nuances of the Southwest with enviable views of the Sandia Mountains beyond the metropolitan location. The urban, full-service Hilton provides 8,100 square-feet of flexible meeting and ballroom space, along with direct, underground access to the expansive Albuquerque Convention Center. Icon Bistro invites guests for New Mexican-inspired breakfast classics, while the menu at Lounge 201 serves up lunch and dinner options in a modern, relaxed setting perfect for gatherings with friends, families and colleagues.

"Market research shows Albuquerque growing at a rapid rate, with an increasing concentration of high-tech companies moving to the destination, including a new 300-acre Facebook campus and a new Netflix production hub. More than 3,100 new high-tech related jobs have been added to the area in the last 18 months," says Chad Cooley, principal, AWH Partners. "This economic development and the draw of the beautiful locale is driving significant hotel demand. We're thrilled to establish AWH Partners presence in this alluring destination."

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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.