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Success Stories

Courtyard by Marriott, Thousand Oaks

Property Type: Full Service

Location: Thousand Oaks, CA

Number of Guest Rooms: 120 Rooms

RevPAR: Increased 9% over prior year

BACKGROUND:

The Courtyard by Marriott Thousand Oaks has 120 rooms along with 3,000 square feet of meeting room space which includes a gym, jacuzzi, and full service restaurant. Built across from Amgen, the hotel is the first choice for Amgen business travelers in the area with over 8,000 room nights annually. With an innovative customer-focused design, guests are able to experience a comfortable and productive stay. Courtyard Thousand Oaks hotel is conveniently located within 20 miles of Malibu Beach, Santa Monica and The Channel Islands.

APPROACH:

  • Addressed occupancy concerns the hotel experienced and implemented revenue management strategies to drive performance
  • Recruited, hired and trained a Front Office Supervisor and Chief Engineer to assist in maintenance, sales and guest satisfaction
  • Executed inspection and cleaning of all HVAC units
  • Created a Director of Sales position to manage the sales department and provide support for revenue management
  • Implemented weekly revenue management meetings to ensure RevPAR optimization
  • Performed market analysis to evaluate competition and increase e-commerce opportunities

PERFORMANCE SUMMARY:

  • Total Revenue increased 10% year over year
  • Realized a 6% increase in GOP and NOI over the prior year
  • Increased RevPAR 9% over the prior year and led the market in RevPAR index¬† for 12 months
  • Improved customer experience after expediting all necessary repairs throughout the property
  • AAA inspection completed with three star rating maintained