operationsLodging Magazine··1 min·For: Owner, Investor, GM, Revenue
Remington Shifts to 80% Third-Party Hotel Management
Remington Hospitality has transformed its portfolio from REIT-focused to 80% third-party management, driven by a refreshed executive team and an owner-operator mindset. The company is actively retaining properties through brand conversions and prioritizing below-the-GOP-line profitability.
Key Takeaways
- 1Third-party management will comprise roughly 80% of Remington's portfolio by year-end, up from 20% a few years ago.
- 2Full-service properties are seeing a 41% average GOP, driven by record flowthrough and above-market average daily rates.
- 3Strategy focuses on below-the-GOP cost management, including debt restructuring and insurance optimization to protect owner yields.
Source: Lodging Magazine
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