Exceeding Pro Forma Expectations for a New-Build Hotel
Interstate successfully opened a ground-up, new-build, 175-room premium select service brand hotel that serves as the flagship lodgings in a Bay Area development project. We launched the property on time and achieved a strong market presence from the start, exceeding all first-year financial expectations.
First year GOP projection exceeded by a half basis point
Increased total revenue of $1.5M over the projected budget
Exceeded ADR by 13% beyond projections
Exceeded RevPAR by 21% of first-year and 4% of five-year projections