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Noble is an integrated real estate investment
management, operating and development organization focused on the North
American lodging and hospitality sector. Through its private equity funds,
Noble is a value-added, active investor in luxury and upscale hotels and
resorts. By strategically utilizing the organizations in-house property
management and project development core competencies, Noble has achieved
premium risk-adjusted investment returns since 1993.
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Noble and its predecessors have acquired and developed over $1.5 billion in
assets and in 2006, the company made an aggregate of $500 million in lodging
investments. Noble's current discretionary private equity fund represents $310
million of equity commitments and expects to invest over $1 billion in assets
during the next three years.
Noble's development division leads the planning, programming, construction
management and realization of complex lodging development, re-development and
conversion strategies. Currently, Noble is actively developing more than $1
billion of urban, resort and mixed-use hospitality projects throughout North
America.
Noble's management division is an award-winning operator of independent
destination resorts and branded upscale hotels affiliated with Marriott,
Starwood, Hilton, Hyatt and IHG. Currently, Noble operates more than 7,000
hotel and resort guest rooms, convention and conference centers with over
800,000 sq. ft. of meeting space, as well as championship golf, day and resort
spa's, upscale restaurants, and branded retail coffee stores.
Noble needed
to strengthen their revenue management processes, improve forecast accuracy and
weekday premium mix as well as subsequent average rate and RevPAR. When it
needed a comprehensive solution, Noble Investment Group chose the Intercrew
Systems Revenue Forecasting Tool and Sell Strategy Module to maximize its
current operations including more than 5,000 first-class hospitality resort and
upscale hotel guest rooms plus 7,000 Alliance Hospitality Management operated
hotel rooms.
Using the Intercrew Systems' Revenue Forecasting Tool, Sell Strategy Module and
experienced hotel revenue management professional services, the company
immediately identified several unprofitable corporate and airline crew
accounts. These negotiated accounts had a combined rate and service pattern
which displaced revenue from a higher rated market. With clear visibility
offered by the Revenue Forecasting Tool, the company removed these accounts
from their books, previously deemed irreplaceable due to sheer volume. This
alone dramatically improved RevPAR.
Next, Noble Investment Group identified market segment budget strategies that
were impossible to achieve in light of their current market conditions. Our
professional services, the Revenue Forecasting Tool and its comprehensive
reports made this information apparent. They used this new insight to
restructure their sell strategy and sales team deployment into a more
achievable room revenue strategy by market segment. To do so, some budgets were
sustained at existing levels using restructured strategies and detailed
outlines, while other budgets were increased based on additional demand
potential in their specific market segment.
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The Intercrew Systems' Revenue Forecasting Tool, Sell Strategy Module and
professional services made retail pricing issues much more easily identifiable.
As a result, the company adjusted their retail pricing, where applicable, to
ensure an improved premium mix, average rate and subsequent RevPAR. This was
all accomplished without the need for additional demand.
"The tools have greatly assisted my goal in establishing single image pricing,
or rationalized pricing, throughout the portfolio," states Mitesh Shah,
President and CEO. "This will improve some of the hotels much needed rate
integrity, and subsequent customer loyalty."
Noble Investment Group was impressed with the functionality and insight
attainable using the Intercrew Systems software solution. Their awareness
improved from top to bottom as they began implementing consistent weekly
strategy meetings using the Revenue Forecasting Tool and Sell Strategy Module.
Daily segmented forecasting immediately enhanced corporate, regional and
hotel-level management awareness of their competitive landscape. Corporate
accounting and hotel controllers benefited from accurate room sale coding. The
company's revenue managers and sales directors now address issues of which they
were previously unaware.
"The new Intercrew Systems tools exposed
everything relating to the rooms,"
Mr. Shah states.
Intercrew Systems software and professional services influenced the development
of a new and improved corporate environment where revenue managers could excel
in their position regardless of the hotel brand they support. This new system
provided a uniform and all-inclusive foundation to enable similar tasks for
multiple brands and streamlined management over multiple properties. As a
result, Noble Investment Group attracted higher caliber managers, opening
redeployment opportunities and reducing payroll expense.
Intercrew Systems made a substantial and measurable impact on business
processes and strategies within Noble Investment Group. These changes improved
performance, revenue, efficiency and ongoing business strategy.
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