Zettl said the DoubleTree’s occupancy is “well over 70%” on an annualized basis and he expects to get some lift under the average daily rate in the months ahead. “The ADR over the past several months has improved and we’re expecting it to grow another 10-15%.”
Daniel Senisi, the DoubleTree’s manager, said, “The brand’s performance at this airport location has sustained vast success and we look forward to the property’s continued growth.”
Zettl said the majority of the staff is in place and will “continue to be retained. They’re a wonderful staff; it’s a well-run hotel but it just needs a little bit better operational efficiencies that we can bring to the table.” Specifically, this would include leveraging Ultima’s purchasing power, forecasting abilities, cost management and revenue management.
The hotel currently features 14,000 sq. ft. of meeting and event space, and has an outdoor landscaped terrace, an outdoor gazebo, two ballrooms, multiple breakout rooms, a dedicated boardroom and a 24-hour business center.
“It’s mostly a corporate hotel,” said Zettl, “but it also does more than 25 weddings during the year.”
Additional hotel features include a 24-hour fitness center, heated indoor pool, a whirlpool and complimentary WiFi for all guests.
Guestroom amenities include complimentary, high-speed Internet access, remote guestroom printing, a 37-in., HD-plasma-screen TV and the brand’s signature Sweet Dreams by DoubleTree Sleep Experience bedding. Suites also include a sofa bed as well as a jetted tub.
Ultima Hospitality is a “preferred” owner/operator for Hilton Worldwide-branded properties and it has another DoubleTree in Skokie, IL, 18 miles north of Chicago. The 367-room property, known as the DoubleTree by Hilton Chicago North Shore Conference Center—was originally acquired in 2006 in an 80/20 joint venture with Oxford OBG. In December 2010, Ultima took on sole ownership and management of the hotel.
Zettl said the company, which is the management arm of Waterton Commercial Properties, an entity established by parent Waterton Associates to deal with its investments into the hospitality space, is looking to close on another two to three deals—preferably for full-service hotels—by the end of this year.