The Industrialist Hotel, Pittsburgh, managed by HRI Hospitality.
Industry’s first meetings and events solution for management companies and ownership groups
ARLINGTON, Va. — March 23, 2023 — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, today announced that HRI Hospitality (HRIH), a fully integrated owner, operator, and developer of premium branded hotels in top national markets, has adopted Knowland’s Portfolio Capture, following a successful testing period. The product is a complement to the Knowland platform and was designed to provide a comprehensive, unified view of meetings and events business performance across an entire portfolio.
At a time of increased pressure on hospitality ROI, it’s essential for ownership and management groups to understand better how a property contributes to the portfolio’s overall performance. Portfolio Capture allows for roll-up reporting and benchmarking all in one place.
• Comparing portfolio properties – This complement to the Knowland platform makes it easy for asset managers and ownership groups to benchmark properties in their portfolios against each other, make investment decisions, view competitive performance, and identify top sales opportunities.
• Standardized KPIs for each portfolio property relative to its competitive set and market – Portfolio properties can be compared against defined competitive sets and operating markets, giving more context to current and past performance. By leveraging Portfolio Capture, HRIH gauges property results against standardized KPIs to measure a hotel’s market share compared to its direct competitors.
Chad Goodnough, senior vice president, sales and marketing, HRIH, said: “Using Portfolio Capture allows our team to see both individual and portfolio data for the meeting, group, and event market. Having access to the key performance indicators has increased efficiency and ensured the right selling strategies, resulting in a measurable positive impact on hotel revenues and market share.”
Patricia Shea, VP sales and customer success, Knowland, said: “Portfolio managers need a simple, fast solution to understand their relative market performance and the actions needed to improve ROI. We are thrilled to have HRI Hospitality be one of the first management companies to experience this innovative solution while leveraging the power of data to gain insight into their portfolio.”
