Case Study: Renaissance Las Vegas boosts NOI 63% with HEI Hotels & Resorts

Renaissance Las Vegas grows NOI 63% in 2 years with HEI Hotels & Resorts

HEI Hotels & Resorts targeted the Renaissance Las Vegas hotel, a non-gaming property adjacent to the Las Vegas Convention Center. The opportunity was to acquire this high-quality asset and realize substantial operational upside by improving its expense structure and revenue management, as well as re-conceptualizing its food and beverage venues to enhance profitability.

Upon acquisition, HEI Hotels & Resorts implemented its proprietary operating platform, which included tools for revenue management and a unique staffing model. This eliminated over $2.8 million in unnecessary recurring expenses and quickly grew market share by 6 points. Combined with a successful F&B repositioning, the hotel's net operating income grew by more than 63% within two years, leading to a sale that achieved a 47% internal rate of return for HEI and its capital partner.