Third-Party Management Company Also Adds Two Hotels and Expands Corporate and Property-Level Team Leadership
Officials of Twenty Four Seven Hotelsa third-party hospitality management company for premium brand select-service and lifestyle hotels segments in the western US, today released the company’s first quarter results for 2022. Through the first three months of the year, the company’s portfolio consistently outperformed national industry averages as measured by STR, leading in occupancy, rate and revenue per available room (RevPAR). The company also announced that it added the 125-room Cambria Hotel Calabasas and the 120-room Hilton Garden Inn Temecula to its portfolio, expanding their foot point in key Southern California destinations, as well as grew its leadership teams at both the corporate- and property-levels.
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Officials of Twenty Four Seven Hotels, a third-party hospitality management company for premium brand select-service and lifestyle hotels segments in the western US, today released the company’s first quarter results for 2022, including the addition of the 125-room Cambria Hotel Calabasas (pictured). (Photo: Business Wire)
“We continue to ride the massive wave of momentum that began for Twenty Four Seven Hotels in 2021, when our portfolio grew by 25 percent with the addition of seven new hotels now totaling 25 hotels with more than 3,100 rooms,” said David Wani, CEO , Twenty Four Seven Hotels. “We will continue to seek third-party management opportunities with well-respected partners and brands in the Western United States, expanding our concentration in these unique markets where we have firsthand experience improving bottom lines and guest satisfaction scores. ”
The following chart represents the company’s 1Q results versus the national industry average: