One of the key strengths of Commonwealth is our expertise in sales and marketing. We start by finding the best sales professionals in each market. We invest in them through training and we reward them for their success. Since we typically start with no revenues, we are well experienced at developing a business from ground zero. We have historically ramped up new properties in six to twelve (6-12) months.
To achieve this, we have developed sophisticated sales and marketing techniques and systems, using market segmentation strategies to optimize the success of our properties.
Each hotel's management team is an integral part of this process, along with plan flexibility that allows each hotel to adapt quickly to changing market conditions. These systems are used in all Commonwealth.
Our market results for all our properties have been yields and penetration well in excess of our competitive set. We are the market leader in each market in which we operate.