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Success Stories of Stepstone Hospitality, 333 Westminster Street, 4th Floor, Providence Rhode Island

Stepping Stones to Excellence

With a wealth of experience managing diverse hotel properties, the StepStone team excels at managing each of our properties with uniquely tailored operating strategies and an approved manager for all major brands. These are just a few of our success stories.
Doubletree By Hilton Nashville Downtown - Nashville, TN

Doubletree By Hilton Nashville Downtown - Nashville, TN

Since assuming management of Doubletree By Hilton Nashville Downtown, we have successfully orchestrated a $9.5 million renovation, facilitated a timely property refinance, achieved substantial RevPAR index growth, and demonstrated notable revenue and profit increases. 

  • Provided comprehensive renovation oversight for $9.5 million project that modernized every area of the property; finished the project on time and on budget. 
  • Within two years, ownership was able to successfully refinance the property and distribute all of the equity invested. 
  • The hotel concluded 2016, its first year after renovation, with a RevPAR index of 98.5, up 16.5% compared to 84.6 in 2015 and up 3.7% compared to 95.0 in 2014 despite adding a newly built 214-room Hilton Garden Inn to the competitive set in June 2015. 
  • The hotel's RevPAR index further increased by 1.9 points to 100.3 in 2017. 
  • StepStone minimized the impact of heavy renovation in 2015 with revenue management and expense controls. 
  • The hotel finished 2016 with a 27% growth in Total Revenue and a 39% growth in Gross Operating Profit with a 4.0% points improvement in margin and 60% flow. 
  • The hotel's profitability further improved in 2017 with an additional 0.5% points improvement in margin and 54% flow.
Springhill Suites Boston Peabody of Stepstone Hospitality, Providence Rhode Island

SPRINGHILL SUITES BOSTON PEABODY

After assuming management from Marriott International in August 2012, StepStone Hospitality replaced the Marriott regional sales team with a dedicated onsite team and implemented cost-saving measures, spearheading transformative changes at the property. 

  • Concluded 2014 with a RevPAR index of 104.3, up 1.9% compared to 102.3 in 2013 
  • Grew the hotel's index to 104.9 in 2015 
  • Continuously increased RevPAR index year over year since taking over management 
  • Achieved 10.8% CAGR on Total Revenue and 18.2% CAGR on Gross Operating Profit with consistent improvements in margin and over 50% flow each year from 2012 to 2015