Raleigh Marriott City Center Market Research Report

Background

Overview

The Raleigh Marriott City Center is a contemporary hotel situated in the heart of downtown Raleigh, North Carolina. Opened in August 2008, the hotel offers 400 upscale rooms and is directly connected to the 500,000-square-foot Raleigh Convention Center via an underground walkway.

Mission and Vision

The hotel's mission is to provide exceptional hospitality and modern accommodations to both business and leisure travelers. Its vision is to be the premier choice for visitors to Raleigh, offering unparalleled access to the city's attractions and business districts.

Primary Area of Focus

The Raleigh Marriott City Center focuses on delivering high-quality lodging and event facilities, catering to a diverse clientele that includes convention attendees, business professionals, and tourists.

Industry Significance

As a full-service hotel connected to a major convention center, the Raleigh Marriott City Center plays a pivotal role in supporting Raleigh's tourism and convention industries, contributing significantly to the local economy.

Key Strategic Focus

Core Objectives

Provide exceptional guest experiences through modern amenities and personalized services.

Support the growth of Raleigh's convention and tourism sectors by offering convenient accommodations.

Maintain high occupancy rates and positive customer reviews to ensure sustained profitability.

Specific Areas of Specialization

Hosting large-scale events and conventions, leveraging its direct connection to the Raleigh Convention Center.

Offering modern accommodations with amenities tailored to both business and leisure travelers.

Key Technologies Utilized

High-speed internet access throughout the property.

State-of-the-art audio/visual equipment in meeting spaces.

Mobile check-in and keyless room entry for enhanced guest convenience.

Primary Markets Targeted

Convention and conference attendees.

Business travelers visiting downtown Raleigh.

Leisure tourists exploring Raleigh's cultural and historical sites.

Financials and Funding

Ownership and Investment

In August 2013, Carey Watermark Investors Incorporated (CWI), a publicly registered non-traded real estate investment trust (REIT), acquired the Raleigh Marriott City Center. The total investment was approximately $89 million, including an $83 million purchase price and $6 million allocated for capital improvements and acquisition-related costs. The investment was financed with $51.5 million of debt.

Financial Performance

While specific financial details post-acquisition are not publicly disclosed, the hotel's strategic location and amenities suggest a strong performance in line with industry standards for similar properties.

Pipeline Development

Future Developments

As of the latest available information, there are no publicly announced plans for significant expansions or new developments associated with the Raleigh Marriott City Center.

Technological Platform and Innovation

Proprietary Technologies

Integration with Marriott's global reservation system, ensuring seamless booking and guest management.

Significant Scientific Methods

Utilization of data analytics to optimize pricing strategies and enhance guest satisfaction.

AI-Driven Capabilities

Implementation of AI-powered chatbots for customer service inquiries.

Leadership Team

Key Executives

David Palumbo: General Manager. With extensive experience in hotel management, Palumbo oversees daily operations and strategic initiatives at the Raleigh Marriott City Center.

Leadership Changes

No significant leadership changes have been publicly reported in recent years.

Competitor Profile

Market Insights and Dynamics

The Raleigh hotel market is characterized by a mix of established brands and boutique hotels, catering to a diverse range of travelers. The presence of the Raleigh Convention Center and proximity to major universities and cultural institutions contribute to a steady influx of visitors.

Competitor Analysis

Sheraton Raleigh Hotel: Located nearby, offering similar amenities and services.

Holiday Inn Raleigh Downtown: Another competitor in the downtown area, providing accommodations for both business and leisure travelers.

Strategic Collaborations and Partnerships

The hotel's direct connection to the Raleigh Convention Center is a strategic partnership that enhances its appeal to convention-goers and large event organizers.