A Strategic Partnership in Hospitality
Main Street was engaged to manage a property that had drifted from its mission and core constituent. Our objective was to rebuild a connection to the hotel for the community and the college, without a significant repositioning investment. We were charged with stabilizing the profitability of the asset, while remaining highly sensitive to college relations and community partners. It was critical that the hotel be an extension of the college experience, and we accomplished this in various ways
Key Metrics | 2014 – 2017
- Increased capture of local college spend on lodging from 54% to 68% in year one under MSH Management
- Increased to 76% in year two
- Total increase in sales of 31% over two years in college direct spend
- In three years gross operating profit improved by 351%
- Made fiscally responsible upgrades to rooms and public areas
- Guest Satisfaction increased by 15%
- Grew RevPAR by 78% over 3 years
Build Trust
The increase in college capture, trust in the operation and experience of The Inn, and remarkably improved results were built through:
- Investment in meaningful relationships with college administrators and the academic staff
- Immersing ourselves into the community
- Delivery of a consistently positive guest experience
- Ease of booking and billing for the college
- Ensuring college constituents felt recognized, valued and connected
- Creation of special programs for College constituents
- Regular and high-quality communication with College partners
Created Loyalty
We also created specific programs for alumni, families of students, visiting families and visiting athletic teams to keep the hotel at the center of their college experience. We created a recognition program, ‘Purple Perks’ for frequent family and alumni visitors to build loyalty and compete with branded hotel loyalty programs.
An inclusive package with static pricing was promoted to athletic directors within the conference to ensure that visiting teams would always make The Williams Inn their primary choice. We also created experiential packages to help prospective students feel more connected to the school during scouting visits.
Honored College Values
In management of the Inn, we ensured that revenue strategies and expense
management mirrored college values, which are not always evaluated in terms of dollars. A deep understanding of the balance between sustainability, diversity, authenticity, regional appreciation, and fiscal responsibility guided our decisions. Prudence was used in ensuring that expenses have a distinguishable guest impact and are not wasteful.
Additionally, the operations and programming of the hotel demonstrated an understanding of the multiple demographics and honored the generations that make up the college constituency. Main Street understood that the hotel is one of the first and most lasting impressions of the college for students, parents, board, faculty, staff recruits, and business partners.
Powerful partnerships,
exceptional results
As a world-class team that owns, operates, develops and designs unique hotels, we build lasting and aligned ownership relationships to help our partners build sustainable long-term value. Our nuanced approach and best-in-class tools deliver exceptional results for our family of hotels.
Main Street turned an under-performing property into a thriving operation that is connected to The College and supports our mission. The results, both financial and relational, have been significant.
– FRED PUDDESTER Vice President of Finance and Administration, Williams College
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