In 1958, Frank Crisafi opened his first commercial real estate office in Cleveland, Ohio. Today, Ceres Enterprises owns and operates several hotels in the Midwest. These include the Orbit Hotel, Trademark Collection by Wyndham which is a former NASA office building.
For David Crisafi, Frank’s son and President of Ceres, Wyndham was the ideal partner to help grow their business. Every Trademark property is unique. Each combines the owners’ vision with Wyndham’s industry-leading reputation for service and support.
(Cleve)Land of Opportunity
Cleveland tourism is on the rise.1 According to a recent report from Downtown Cleveland, the city’s downtown attracted 35.4 million visitors in 2023. Hotels charged an average daily rate of $181.93, and the average RevPAR was $107.82. The city center also has more than $1.25 billion in public infrastructure investment underway. In addition, there is $4 billion in planned private development.
Cleveland is #1 nationally for office space conversions.1 One location in particular caught Frank and David’s eye: An office building at NASA’s Glenn Research Center. The building was last used by NASA more than 20 years ago. The previous workspace of NASA scientists and engineers offered the perfect opportunity for office conversion.
In 2021, Ceres opened the NASA Orbit Hotel under the Trademark by Wyndham flag. They also operate three other Wyndham hotels — one in Avon, Ohio, and two in Indiana.
People Make the Party
Frank Crisafi is known for both his business acumen and quotable business advice. One of his favorite sayings? “People make the party.” David Crisafi has seen this firsthand with Wyndham. “We’re a smaller franchise,” he says, “and the Wyndham personal relationships are much more appreciated and tangible.”
He highlights work on The Orbit, noting that Wyndham understands that there’s no “one size fits all” approach to development. “I can work with Wyndham to adapt an old building that is part of the NASA research park,” he says. “With Wyndham, we were able to take those buildings and create something that’s really unique.” Working with Wyndham also offered the opportunity to boost guest satisfaction. The Trademark Collection by Wyndham ranks in the top three brands for overall guest satisfaction in its segment.2
Why Wyndham?
For Ceres Enterprises, working with Wyndham offered multiple benefits, including:
Service and Support
With Wyndham, Ceres enjoys both autonomy and assistance. Wyndham works with its franchise partners to make decisions that are in the best interests of guests and the brand. It also offers on-demand assistance as needed.
“It’s the support behind the brand and Wyndham’s understanding of projects like this,” says Crisafi. “You have to have a brand behind you who understands and is working to attract guests, maintain guest relationships, and improve service.” David notes that the rebranding of The Orbit preserved a lot of the building’s original nature which was a priority for the team.
Revenue Driving Technology and Services
Effective revenue management keeps hotels in operation. David highlights the substantial time and effort Wyndham spent developing and rolling out its RevIQ system. The system provides the features and functions that can assist in tracking, monitoring, and improving revenue.
The technology is also very easy to use. “I just enjoy going into my revenue manager every day and looking at the details,” he says. “I love it. It’s very user-friendly and a great system.” Regularly reviewing occupancy and RevPAR is a critical task for any owner. But it’s always beneficial when revenue management systems go beyond expectations to deliver an enjoyable, user-friendly experience.
Wyndham Rewards
Wyndham Rewards ranks #1 in USA Today’s Readers’ Choice awards for best hotel rewards programs.3 With 110 million enrolled members in the program, hotel owners have access to a diverse pool of potential repeat visitors. ”
They have some unbelievable properties worldwide and domestically,” says David.
The Wyndham Rewards app lets guests quickly book stays at any Wyndham property. It also allows them to easily use their accumulated points for go fast discounted stays or go free free stays. For owners, the ease of use offered by Wyndham Rewards provides a built-in guest benefit that helps boost satisfaction on every stay.
Wyndham Rewards also helps drive revenue for owners. For example, Wyndham Rewards members contribute to ~50% of hotel stays for our owners, members stay ~2X more than non-members, and ~50% of U.S. hotel stays are from Wyndham Rewards members.4
Advice for New Owners
The Ceres team understands property management and guest satisfaction. For new owners considering their first hotel purchase or looking to expand their current portfolio, David Crisafi offers two pieces of advice:
Find Flexibility
New owners need brand partners that offer the right mix of flexibility and stability. Consider The Orbit. The hotel offers amenities and features that Wyndham guests expect. But it also occupies a unique space in terms of development and design.
David describes Wyndham’s support as “entrepreneurial” in its approach. While certain components and elements must be considered when building or adapting a Trademark Collection property, there’s also greater flexibility for a soft brand. This allowed Ceres to develop The Orbit Hotel in a way that honored the historic nature of the space.
Diversify Your Options
As guest preferences evolve, hotel owners benefit from portfolios that serve multiple market segments.
The Orbit falls under the Trademark Collection by Wyndham flag. This brand features a collection of independently-minded, upper-midscale properties. The Wyndham Avon, meanwhile, is an all-suite hotel located just a short distance from Cleveland’s downtown core. Ceres also owns Wyndham Noblesville and Wyndham Westfield, both located in Indiana. The Wyndham brand offers a fresh perspective on upscale.
In practice, portfolio diversity starts with your first property. Maybe this means finding a historic building and carrying out an adaptive reuse project. Or maybe it’s rebranding an existing hotel and expanding its amenities to capture greater guest interest. Over time, diversity might mean purchasing new properties in the same chainscale. Or it could mean expanding into other chainscale segments to create new revenue opportunities.
Considering another property but not sure where to start? Discover the Art of Diversification in our eBook.
This Time, It’s Personal
For David, success “all goes back to personal relationships.” While technology plays a key role, these solutions can only take owners so far. To drive sustainable success, hoteliers need brand partners who recognize the value of working together to create the best outcome possible.
Frank Crisafi puts it simply: “You have to dream it before you can do it.” With Wyndham, owners are better equipped to make the move from dreams to reality.
12023 Downtown Cleveland Economic Development Report, Downtown Cleveland, 2023, https://www.downtowncleveland.com/2023-downtown-report
2A leading consumer research organization study on upper midscale hotels as of July 2024.
310 best hotel loyalty programs to join in 2024, USA Today, August 7, 2024, https://10best.usatoday.com/awards/travel/best-hotel-loyalty-program-2024/ — Named the #1 Best Hotel Loyalty Program in the 2024 USA Today 10best Readers’ Choice Awards for 7 consecutive years and one of the Best Travel Rewards Programs by U.S. News & World Report now 9 years running.
4On average an aggregate across all Wyndham and Wyndham hotels
© 2024 TMH Worldwide, LLC. All rights reserved. FDD dated March 30, 2024, as amended July 29, 2024. Contribution numbers presented are based on averages for certain franchisees in the U.S. during 2023. 52 (61.2%) and 42 (49.4%) of franchisees whose data was disclosed in the FDD met or exceeded the CR Contribution and WR member Contribution presented, respectively. Your results may differ.
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