Red Roof Tells Franchise Owners It Is Positioned for Growth
Skift Take
- The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%.
- B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc. to $18 from $23 and on Ashford Hospitality Trust to $9 from $12.
- Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth.
The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%.
B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc. to $18 from $23 and on Ashford Hospitality Trust to $9 from $12. BHR and AHT were both down -5% while AINC was up 3%.
Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth though state-of-the-art technology, strategic partnerships, new prototypes, and its ESG program Purposed with Heart, ultimately enhancing the guest and owner experience. Company performance highlights include: Revenue for 2021 was 16% higher than 2019. Revenue for the Red Roof brand from January through September 2022 increased 10% year over year, and RevPAR is up 9% for the same period. Revenue from Website, Mobile App, and Central Reservation System is growing faster than other channels. Revenue from Website and Mobil App is 22% higher than 2021 while revenue from CRS is 19% higher. RediRewards enrollment increased 48.2% during summer months of June to September. Strategic partnerships announced include: Innovative partnership with HotelKey to optimize operations and enhance guest experience though an advanced enterprise hospitality platform. A new digital marketing partnership with Zeta Global, positioning Red Roof to drive growth and demand. A new partnership with ibex, utilizing innovative call center technology and resources that increase loyalty, and boost revenue with a robust expert talent pool. A new Red Roof RediResponse Program, implementing a brand-wide, in-house solution for reputation management. A new dual branded prototype was announced offering franchisees an additional Red Roof option, Red Roof and HomeTowne Studios, as the brand draws closer to 700 properties system wide across the U.S. and internationally. The new prototype combines the effic
