Creating a New Face in DTLA
The Background: A mature, underperforming 434-room Downtown Los Angeles niche property that was built in 1977 had become stale. Interstate Hotels & Resorts management oversight began in 2011, and with a large-scale renovation, the property was upgraded, and repositioned in 2012 with a respected corporate brand.
- Renovate property to drive higher rates.
- Reposition property to capture more business.
- Effect all upgrades in an efficient, cost-effective way.
- Increase profitability.
- $16 million in capital and brand improvements made.
- Revenues and cash flow increased.
- Property operations performance improved.
- Hotel successfully repositioned through marketing campaigns.
- New F&B concept adds $3 million in revenue.
- Excellent cash flow trajectory forecasted.
- Prior prospect of potential foreclosure ended.
- Operational management leadership reinvigorated.
- Overall employee culture improved.
41.4% (2012), 40.2% (2013), 18.0% (2014), 14.4% (2015), 20.06% (2016).