Four case studies to showcase HBS Investment Group’s strategic vision, disciplined execution, and proven track record:

🏨 Case Study 1: Strategic Value-Add Acquisition

Asset: 63-Room Economy Franchised Hotel
Location: Midwest U.S.
Strategy: Renovation + Amenity Enhancement
Hold Period: 6 Years
Result: +40% Revenue Growth

Overview

HBS Investment Group acquired an underperforming 63-room economy hotel that lacked key guest amenities, including a swimming pool—a feature highly valued by family and leisure travelers. Rather than opting for superficial improvements, HBS executed a targeted enhancement strategy.

Execution

• Conducted a detailed market feasibility analysis that revealed unmet demand from youth sports teams and traveling families

• Designed and developed a fully enclosed indoor pool adjacent to the lobby for maximum visibility and operational efficiency

• Upgraded select FF&E and revamped lobby experience

Outcome

• Occupancy increased by 18% within the first year

• ADR rose by 12%, driven by added amenity value

• Total revenue increased by 40%

• NOI margin significantly improved due to optimized pricing and operational leverage

Key Insight: This project underscores HBS’s ability to uncover value in overlooked assets by leveraging targeted CapEx and amenity-driven revenue strategies.

🏗️ Case Study 2: Ground-Up Development, Lean Execution

Asset: 45-Room New Construction (Midscale Economy | Choice Hotels)
Location: Southeastern U.S.
Strategy: Ground-Up Development
Total Cost: $1.5 Million
Annual Revenue at Exit: $800,000
Hold Period: 5 Years

Overview

HBS Investment Group developed a 45-room Choice Hotels-branded property in a high-traffic corridor underserved by quality lodging options. The project focused on delivering maximum operational revenue with minimal upfront investment.

Execution

• Acquired land near major transit routes with limited competition

• Leveraged Choice Hotels’ efficient development prototype for budget control

• Completed construction under budget through in-house project oversight and disciplined vendor selection

• Focused on fast-track opening and local hiring

Outcome

• Stabilized occupancy within 14 months

• Annual revenue exceeded $800,000 by Year 3

• Delivered strong cash flows and a profitable brand-enhanced exit

Key Insight: Demonstrates HBS’s ability to develop high-yield assets through precision cost control and efficient ground-up execution.

🛫 Case Study 3: Airport Market Play – Best Western Plainfield, IN

Asset: Best Western Hotel – Renovation & Optimization
Location: Plainfield, Indiana (near Indianapolis International Airport)
Strategy: Strategic Repositioning & Operational Turnaround
Hold Period: 3 Years
Investor Return: 22% IRR

Overview

HBS acquired a Best Western property in the busy Plainfield airport submarket. The property had strong bones but was underperforming due to dated operations and a lack of strategic marketing.

Execution

• Targeted refresh of guest-facing areas and back-of-house operations

• Improved digital presence and tapped into airport corporate travel accounts

• Streamlined management and implemented dynamic pricing

Outcome

• RevPAR growth of 28%

• NOI margin grew significantly through RevPAR and cost optimization

• Exited the asset within 3 years, delivering a 22% IRR to investors

Key Insight: This deal highlights HBS’s ability to generate strong investor returns through focused operational repositioning in strategic submarkets.

🏨 Case Study 4: Doubling Equity with LQ Louisville

Asset: La Quinta Inn & Suites – New Construction
Location: Louisville, Kentucky
Strategy: Ground-Up Development + Market Penetration
Total Return: 2x Equity Multiple
Annual Return: 20%+
Hold Period: 6 Years

Overview

HBS identified an opportunity in suburban Louisville for a limited-service branded hotel catering to both corporate and leisure travelers. The La Quinta brand was selected for its hybrid appeal and operational efficiency.

Execution

• Developed ground-up with modern LQ design standards

• Focused on maximizing room count, efficiency, and strong brand positioning

• Implemented local marketing partnerships to drive group and transient business

Outcome

• Achieved stabilization ahead of schedule

• Maintained consistent 20%+ annual cash-on-cash returns

• Doubled investor equity at exit

Key Insight: This project showcases HBS’s long-term value creation through disciplined ground-up development and market timing.

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