NH Reviews The First Year Of Their Strategic Plan
In early February, the NH Hotel Group paused to look back on the previous year. 2014 was the first year of a five-year strategic plan, and looking back over the milestones from the previous year sheds light on the way that NH can expect 2015 to play out.
2014 marked a year of recovery for NH Hotel Group, as confirmed by their CEO Federico J. González Tejera. This success can be attributed to the strategic plan that the Hotel Group has been enacting. Tejera reported that there has been positive movement in the most important hotel business performance indicators for NH in 2014.
NH also celebrated some improvement in their profitability. This slight increase was in line with the 3 percent increase in revenue per available room that NH had expected to see in implementing their strategic plan. The revenue increase was thanks to a pricing strategy that capitalized on times when occupancy rates are stable, leading to an overall increase in the average daily rate of NH hotels.
Furthermore, NH reports that they have received positive feedback from consumers who have noted the improvements the Hotel Group has been making to their properties.
Ultimately, NH celebrated successes for 2014 and communicated a deep commitment to staying in line with the strategic plan because of the achievements it brought last year. They believe they will continue to see improvement as they utilize the plan in the coming years.
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