PORTFOLIO

Million $ Assets managed

Hotels

Employees

Cities

%

RGI

PALETTE HOTELS SUCCESS STORIES

AC Downtown, New York, NY

OPPURTUNITY: To successfully steer the hotel from 2020-2021 required active and innovation revenue and sales techniques, while also being attuned to operational and staffing challenges.
STRATEGY: Worked to build market share, improve margins and topliner while market trailed during recovery from Covid-19. Created an innovative shared-labour model to drive down costs while still delivering best-in-class service.
RESULT: While the market recovered to 2019 levels (in nominal dollars), our successful stewardship of the hotel created growth opportunities as shown in the growth in market share and margins.

Fairfield Inn and Suites, Cotulla, TX

OPPORTUNITY: Acquired in 2021 with Palette management beginning in June, the Fairfield Inn & Suites Cotulla is an example of going back to basics to drive success. Palette focused onguest score increases to bring value due to several prior years of below average scores.
STRATEGY: Relocate a GM with proven GSS wins inorder to retrain the team, doubling down onguest satisfaction in order to improvemarket share and profitability. Talent andtraining are core to what we do and weknow that a good team is key to turningaround a hotel.
RESULT: Awarded the esteemed Platinum CircleAward, presented to the top 5% of thebrand in Overall GSS scores for 2022. Thisaccolade is a testimony to our staff’sdedication to providing unparalleled guestexperiences.

Hotel Indigo, El Paso, TX

OPPORTUNITY: The building that now comprises the Hotel Indigo was originally constructed in 1963 as a bank in the heart of downtown El Paso. The facility had been converted from an office building into a boutique hotel that was overleveraged, unbranded and mismanaged. The property had to be completely renovated to comply with code and brand standards.
STRATEGY The property was designed and repositioned as an upscale hotel with a unique minimalist desert vibe and scenic rooftop pool and deck. The restaurant space was conceptualized with a local El Paso flavor, producing stable cash flows and providing an amenity to hotel guests and an underserved downtown business community. A public private partnership was formed with the City of El Paso, providing many financial incentives for the refurbishment of the hotel.
RESULT: The hotel has been a tremendous success and a market leader. Through IHG, Palette was able to leverage one of the most powerful reservation systems to drive profitability. The hotel was awarded a Gold Key for best design and was designated as a flagship Hotel Indigo by IHG. The property was refinanced with a CMBS loan, creating unexpected value based on year-on-year free cash flows that substantially exceeded expectations.