Despite recession, hotel company is expanding
Depressed lodging companies might want to emulate Delaware North Companies Parks & Resorts, which is not only outperforming the market but also acquiring new properties.
Why?
“We’re succeeding because of our strategy to focus on providing stewardship and hospitality in special places, and our ability to do it well,” said Kevin Kelly, president of the parks and resorts division of Delaware North Companies, a $2.2 billion, privately held hospitality, food service and retail provider.
Other reasons for the 95-year-old company’s success he cited:
• The company operates in areas of historical significant and natural beauty. The company is careful to select the right locations.
• Many of its properties such as Yosemite National Park are high-profile places (Yosemite has the four-diamond Ahwahnee).
• An integrated management system is also critical to its success.
• Its properties tend to hold steady in a recession in part because they are not as dependent on business travelers.
Hotel room occupancy was down 17 percent nationally from the end of 2008 to year-end 2009, according to Jan Freitag, vice president of global development for the independent lodging industry research firm Smith Travel Research.
But Delaware’s rate for its lodging portfolio was up three percent last year.
Looking ahead, Kelly said Delaware North is already seeing positive indications for 2010 and into 2011.
“We’re seeing a significant increase in leisure pace at all of our properties for summer 2010 (May-September), with advance bookings for all properties up a combined four percent,” he said.
By David Wilkening
David
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