With 61,984 guestrooms managed in the U.S. as of Dec. 31, 2011, Interstate Hotels & Resorts tops Hotel Management's 2012 Top Third-Party Management Companies survey. The company added 15,244 guestrooms to its third-party-managed portfolio in 2011, and its revenue associated with the portfolio in 2011 was $2.5 billion.
Rounding out 2012's top ten:
2. Pillar Hotels & Resorts (23,167 guestrooms)
3. GF Management (21,006)
4. White Lodging Services Corp. (20,092)
5. Pyramid Hotel Group (17,318)
6. TPG Hospitality (16,709)
7. Crescent Hotels & Resorts (14,574)
8. Remington (14,196)
9. Davidson Hotels & Resorts (13,464)
10. Island Hospitality Management (10,847)
If the recession taught management companies one thing, it was how to survive. Now operators are drawing on those skills to manage their current challenges— increasing sales efforts while slowly raising rates, dealing with capital expenditures and controlling costs.
“2011 was a choppy, challenging year from an operating perspective,” said Michael George, president and CEO of Crescent Hotels & Resorts (No. 7 on this year's list). “We don’t see a drastic change now in the operating environment. It’s great to see metrics improving, and you would think that works to your advantage, but we know it is still very price-sensitive out there, very competitive and still very much a buyer’s market.”
George and other third-party management company executives speak out about 2012's management trends in this month's issue of Hotel Management.Click here for the full story.
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