Trust Live Oak Lodging’s Experience
The recession took its toll on almost every aspect of our economy, and specifically negatively impacted the hospitality industry throughout the country.
Despite the poor economy, Live Oak Lodging was financially successful at our existing properties. Our knowledge of the hotel industry along with business savvy allowed us to outperform all segments during these difficult times. We can help you achieve this same success.
While we gave up some rate (ADR), we were able to increase occupancy enough to mitigate the effects of the economic contraction by significantly intensifying the sales and marketing efforts at our hotels, which is one of the many services we offer through our Management Services. Our online marketing efforts were particularly successful — with a small investment, we saw returns approaching 40-to-1.
As we all know, the RevPAR number is the key! Whether one compares all US hotels, just Texas hotels, or all independent hotels, Live Oak Lodging’s decline was less than 25% of the decline in all segments. This proves we know how to manage hotels even in the toughest times our country has seen in decades.
While it is important to control costs and maximize occupancy during times of economic contraction, it is also essential to maximize revenues during times of recovery. Due to strategies implemented during the months following the Great Recession, Live Oak Lodging has thrived.