Holiday Inn Express Fairfax – 79 Rooms
Value Added Acquisitions
Rationale
- Disciplined Acquisition
- Margin Improvement
- Cost-Effective (Re-) Development
- Brand Relationship
- Acquired a 80-room Wellesley Inn for $80,000 per key.
- 13 month, multi-million renovation yielded IHG “Renovation of the Year” award for 2007
- After Baywood assumed management and completed renovations, RevPAR increased from $42(YE 2004) to $87(YE 2007), an increase of 107%.
- Total revenue increased by 97% from YE 2004 to YE 2007 following renovations
- Market value of Hotel has increased over 50% since acquisition and renovation
