In 2018, an investment firm purchased the LaQuinta Woodbury in Woodbury, Minnesota. The firm principals quickly identified areas of improvement and growth for the property, and asked Morrissey to complete a full business assessment. The Morrissey team focused on increasing booking pace, occupancy, ADR, and RevPAR, and developed solutions to reduce employee turnover and improve guest satisfaction scores. At the start of Morrissey’s assessment, the numbers ranged in the upper 80% of the market – leaving significant room for growth.
Our team created a sustainable business model for LaQuinta Woodbury by increasing occupancy, APR and RevPAR. Morrissey Hospitality worked closely with Wyndham Hotels and Resorts to better utilize its loyalty and marketing programs. This partnership increased direct bookings, which offset the OTA costs and directly benefited Net Operating Income.
Morrissey Hospitality assessed the entire employee experience to address guest satisfaction and employee retention. Our team quickly identified that turnover, training and constant retraining was causing team satisfaction and guest experience to be less than acceptable – ratings consistently stagnant in the 3.5-4 star range. We evaluated wages and benefits compared to urban and suburban markets to ensure that we were meeting industry and geographic markers and attracting good, qualified staff. We adjusted employee pay and benefit structures to exceed expectations and to be comparable to urban markets.
Outcome & Benefits:
LaQuinta Woodbury’s GOP continues to grow steadily after 23 months. Recent STR reports over 12 months demonstrate that Occupancy Index is 116.9%, ADR 109.5%, and RevPAR 125.25%, up from percentiles in the upper 80s.
Morrissey Hospitality increased Guest-Focused Quality scores to the consistent 4.5 range in 2021. LaQuinta Woodbury now ranks 70th out of 910 LaQuinta by Wyndham hotels in North America. In Q4 of 2020, LaQuinta Woodbury attained the position of 20th out of 908 LaQuinta properties. And, with pandemic mandates being lifted, LaQuinta Woodbury again is open for full occupancy and offering full complimentary breakfasts.
Employee retention is up and turnover is down – every one of LaQuinta Woodbury team members have been employed at the property for over a year.
Morrissey Hospitality continues to act as the management company for LaQuinta Woodbury and invested in the property as performance improved. Our team is confident in this investment and moving toward a goal to be in the top five percent