Achieved significant revenue growth and NOI uplift by successfully acquiring and expanding property.
In 2015, Valor advised prospective owners on the acquisition of the DoubleTree Chester, which is one of the top performing hotel markets in provincial UK. The property included a major value-add component with zoning in place to increase the room count by over 60%. Valor implemented operational improvements immediately upon acquisition. With the changes, the hotel increased average room rate +5.7% as compared to the same period in 2016, despite significant disruption from property refurbishment and expansion. In 2016-2017, Valor successfully implemented a 79-guest room expansion, renovation to the public areas and plan to address layout inefficiencies to improve food and beverage offerings.
