The owners of Charleston Place Hotel in downtown Charleston plan to start a three-year, phased renovation of all 440 rooms in the luxury inn this month, it was announced during an earnings report today.
Owned by Orient-Express Hotels Ltd., the company will spend $9.2 million on the first phase at one of its higher-performing hotels. Funding for the other phases was not disclosed. Minimal disruption to guests is expected.
Total revenue for the company was $174.3 million in the second quarter of 2013, up $10.5 million or 6 percent from $163.8 million in the second quarter of 2012.
Revenue from owned hotels for the second quarter was $143 million, up $12.3 million or 9 percent from $130.7 million in the second quarter of 2012 due largely to 9 percent growth in same-store-owned hotels’ revenue per available room.
The company also owns restaurants, train and cruise properties.