Courtyard by Marriott

Gastonia, North Carolina

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Reversal of Market Share Losses at the Courtyard by Marriott, Gastonia, North Carolina

  • In 2015, acquired for $12.1M, a location-advantaged asset adjacent to a regional medical center. Property had experienced steady market share losses to a local competitor.
  • Completed a targeted $1.38M renovation, executing a complete guest room soft good renovation replacing carpet, vinyl, upholstered furniture, mattresses and bedding.
  • Overhauled hotel operations and hired the leading Director of Sales in the local market.
  • Physical renovation and new sales leadership reversed market share losses and drove 30% revenue growth during the holding period, more than 10X the revenue growth rate of the peer index.
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