After investing in an extensive renovation and flag conversion from Radisson to Hilton, ownership of the 366-key Hilton Lexington Downtown, The Madison Companies, knew their biggest challenge still laid ahead. Madison sought to partner with a premiere management company to chart a new course for the hotel and give it a fresh, vibrant identity. New Castle Hotels & Resorts ("NCH") proved to be the right choice for the operational challenge, as the team provided strategic leadership, operational efficiency and sales expertise to increase market share and profitability. As expected, NCH provided the hands-on personal oversight the hotel desperately needed.
NCH quickly mobilized a team to formulate and execute a dynamic business plan that would upgrade overall performance within the first 12-24 months. With a commitment to first-in-class management, a new executive team, along with a seasoned sales leader, was brought in. The property was successfully re-introduced to the local market after raising awareness and carefully cultivating important relationships within the Lexington community. Our hotel leaders assumed active roles in local organizations, including Visit Lexington and Blue Grass Hospitality. These initiatives were part of our evolving operational strategy -- continually innovating, training and improving.
Under NCH's management, the Hilton Lexington Downtown's gross operating profit (GOP) achieved a compound annual growth rate of nearly 16% in the first three years. From 2011-2018, the property saw a 14% lift in market share, a 19% increase in occupancy, with a 22% ADR gain. In 2018, the hotel had a record-breaking year, achieving peak profitability. If your property is facing similar operational challenges, please call Julian Buffam at +1(203) 447-7010 or via email at email@example.com.