Sheraton Northbrook

Investment Summary

Acquired in 2015, the 161 key property was nine years old and in need of renovation. There was no full time General Manager and they were facing a decline in Business Transient revenues with a departure of Heinz from the market; all this in a year anticipated to grow revenue by $544,000 over prior year.

Strategy

• Implemented strong cost saving efforts
• Recruited a seasoned General Manager to lead the property
• Established sales goals
• Trained and managed the revenue management efforts

Table Notes

• 161 guest rooms
• 2,000 sq. ft. of meeting space
• Full service Connections Restaurant

Execution Overview

• June 2015 had the property ranked 2 of 5 hotels in RevPAR, implemented sales and revenue strategies increased ranking to 1 of 5 in RevPAR indexing well above market share.
• Year one saw total hotel revenue grow $89,000 over prior year and GOP percentage grew from 35.9% to 41.1%, beating the stretch budget.
• IBITDA percentage grew to 20.2%, from 16.1%.