![]() The launch of the Opus Collection has bolstered the company’s presence in the restaurant, bar and food services industry. ![]() ![]() Increasing Presence in the Restaurant & Bar Space The Opus Collection is currently made up of 29 assets and is poised to grow by 17% in 2023 as the company eyes new deals on the west coast in the southeastern region. Launched in February 2019, the Opus Collection was created with a focus on operating and developing upper upscale boutique hotels, restaurants and bars within Concord’s portfolio. Expanding Concord’s Portfolio of Upper Upscale Independently Minded AssetsĪmong its milestones in 2022, Concord Hospitality expanded its presence in the full service segment spurred by the growth of Opus Collection by Concord. Our trajectory for 2023 shows a healthy pipeline of development and new business as Concord Hospitality continues to be a preferred developer and operator amongst the leading hotel ownership groups in North America,” said Mark Laport, CEO & President, Concord Hospitality. We owe much of this success to the relentless pursuit of innovation and excellence by our talented teams making strides in technology, food & beverage, operations and revenue management / digital marketing to keep Concord a best-in-class operator. We provided excellent topline and bottom-line performance and did it through excellence in service execution. “Our performance in 2022 was outstanding, delivering record-breaking growth and a full recovery from the biggest economic downturn to ever impact the hospitality industry. The Concord-managed Beaufort Hotel was selected as USA Today’s “Best Boutique Hotel”.Awarded Marriott Developer of the Year at CONNECT 2022.Recipient of The Bonvoy Luminary Award from Marriott for operational excellence at full-service Marriott hotels.News & World Reports as being amongst the Best Hotels in the U.S. Recognized by Marriott International as a Top Performer in North America for the Customer Satisfaction Category “Intent to Recommend”.A few accolades and awards that Concord Hospitality received in 2022 include, but are not limited to: Food & Beverage operations delivered its most impressive year yet with revenues coming in at over $125 million, a 25% growth over 2021.Ģ022 also marked another award-winning year for Concord Hospitality which has consistently been recognized as a leading developer and manager of both select service properties and full-service lifestyle luxury hotels. The company’s hotel revenues grew to $981 million with comp hotels seeing a 41.6% RevPAR growth over 2021 and the overall portfolio surpassing its 2022 revenue budget by 8.2%. Concord saw an additional 18 hotels that had a change in ownership where Concord was retained to stay on as the management company. In 2022, Concord Hospitality reported a record-breaking year with a total of 66 successful transitions including 12 new hotel openings, an additional 15 third party management contracts and 10 newly-opened branded restaurant and rooftop bar concepts. – Concord Hospitality, the award-winning hotel and development company which presently operates over 150 hotels, is preparing for a year of expansion in 2023 as the company recounts 2022 milestones and projects significant growth for the year ahead. ![]() Concord’s Food & Beverage operations achieved its highest revenue in 2022 growing by 40% over 2021. Both ADR and RevPAR for the company’s comp hotels delivered above national average growth for 2022. ![]() Concord Hospitality announces record-breaking performance in 2022 with hotel and development revenue topping $1.6 billion. ![]()
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