As some of you know, my wife and I recently welcomed a new baby boy to our family. As I’ve discovered, one of the most gratifying parts of parenthood is watching your kids thrive – whether they’re 2 months or 20 years old.
I’m finding the same is true of running my own business. Seeing something we’re building on our own thrive and grow is more satisfying than anything else I’ve done in my career. But growth takes time – meaning demonstrable results do too. As they say, the proof is in the pudding – and it’s been a challenge to watch Prosper grow and not be able to shout the results to the world.
Well, consider the pudding served. Thanks to official STR results, we can unequivocally say that on average Prosper hotels outperformed the market December YoY to the tune of +2.7 RPI (RevPAR Index), +.9 ARI (Average Rate Index) and +1.8 OCI (Occupancy index).
Even better, our hotels in challenging markets are stemming losses at significantly better rates than their competitors, meaning they’re coming back faster than the competition as market conditions improve. In particular, Prosper is driving occupancy gains – the quickest way to steal share and drive revenue when times are tough.
The beauty of this is that our revenue management process is scalable – we can drive results for you whether you’re a single proprietor or responsible for the performance of multiple hotels. Ping me here, on LinkedIn or prosperhotels.com and we can chat about strategies to improve performance for your portfolio.