Business & Finance

Paramount Lodging Advisors (PLA) Thrives in the Pittsburgh Area Market

PITTSBURGH, PA. December 26, 2016 - Paramount Lodging Advisors (PLA) is pleased to announce the sale of the SpringHill Suites Pittsburgh West Mifflin and Comfort Inn & Suites Pittsburgh RIDC. PLA exclusively represented the seller on both deals with Associate Omari Head and Managing Directors Brent Clemens and Bennett Webster leading the efforts on the nearly 320 combined rooms across the two assets.

The two deals mark PLA’s fourth and fifth consecutive successful engagements in the Pittsburgh area in 2016. “Despite a slight dip in area performance, we were pleasantly surprised with the buyer turnout and remain bullish on broader Pittsburgh area demand,” noted Head.

Clemens added, “We look forward to continuing our current success in the Pittsburgh market and believe it is an opportune time to take advantage of the apparent stabilization of recent new regional supply additions.”

About Paramount Lodging Advisors

Paramount Lodging Advisors (PLA) is a hotel brokerage and advisory firm specializing in the sales of hospitality assets, debt and equity placement, as well as value enhancement services across the United States. For more information regarding PLA, please visit www.ParamountLodging.com.

Contact:
Jacki Bubis
jbubis@paramountlodging.com
3122390166

Coming Up In The February Online Hotel Business Review




Feature Focus
Social Media: Interacting with the Hotel Customer
Consider these astonishing numbers: 1.49 billion active monthly Facebook users. 1.1 billion active monthly YouTube users. 320 million active monthly Twitter users and nearly 400 million registered users on LinkedIn. 400 million active monthly Instagram users and 200 million active Google+ users. The power and reach of social media is an awesome force and it has transformed how hotels interact with their customers. In the past year, social media advertising spending increased 33.5% to nearly $24 billion dollars. Social networks are being utilized by hotels to reach more visitors, expand brand awareness, enhance brand reputation and to establish more direct and personal communication with their customers. Savvy hotel operators are adopting a comprehensive social media strategy, and there are several emerging trends to note. Video continues to be a powerful and influential element in social media marketing, with 70% of companies saying that it is their most effective marketing tool. Video generates a 62% higher engagement rate than photographs alone, and with new social sites like Meerkat and Periscope which offer live video streaming, those numbers will only increase. Sponsored content is another growing trend. Though advertorials have been around for decades, hotels are finding new ways to maximize the visibility of their content. Some are placing sponsored content on Facebook, or on influencer blogs. Another trend is the integration of a “Buy Now” button into social media websites. Customers will be able to make purchases without ever having to leave their favorite social sites. This development is a major convenience for customers and should also be an additional revenue source for hotels. The February Hotel Business Review will explore these issues and examine how some hotels are successfully integrating social media into their operations.