StepStone Hospitality

StepStone Hospitality is a prominent hospitality management company founded in 2009 by Tom Russo, headquartered in Providence, Rhode Island. The company specializes in managing full-service hotels and restaurants, combining hands-on operations with strategic asset management and food and beverage expertise to deliver exceptional results.

With approximately 526 employees and $271.2 million in annual revenue, StepStone Hospitality is dedicated to elevating the value of its clients' assets through a strong commitment to owners, brand partners, guests, and its own team, operating in locations including Miami's nearby regions.

Company Overview and History of StepStone Hospitality

Founded: 2009
Founder: Tom Russo
Headquarters: 333 Westminster Street, 4th Floor, Providence, Rhode Island 02903
Industry: Hospitality Management
Employees: Approximately 526
Annual Revenue: $271.2 million

StepStone Hospitality Mission Statement

"To elevate the value of our clients' assets through unwavering dedication to owners, brand partners, guests, and our own team."

What Makes StepStone Hospitality Different

StepStone Hospitality distinguishes itself by integrating thorough operational management with strategic asset oversight and expertise in food and beverage development. This holistic approach results in superior revenue enhancement, margin expansion, and guest satisfaction compared to other hospitality management firms.

Hands-On Operations and Strategic Asset Management

The company combines direct property management activities with asset strategy, enabling tailored solutions that maximize property value while maintaining high operational standards.

Food and Beverage Expertise

StepStone’s specialized focus on food and beverage development supports innovative dining experiences that improve guest engagement and profitability.

Comprehensive Service Offerings

Services include property management, food and beverage development, lender/receiver services, advisory services and rebranding initiatives, as well as construction oversight for hospitality properties.

StepStone Hospitality Management Services and Portfolio

StepStone Hospitality manages a diverse portfolio of full-service hotels and restaurant properties with a strategic focus on revenue and guest satisfaction improvements.

Key Services Offered

• Property Management
• Food and Beverage Development
• Lender/Receiver Services
• Advisory Services and Rebranding
• Construction Oversight

Notable Property Locations

• Le Méridien Charlotte - Charlotte, NC
• Residence Inn Near Universal - Orlando, FL (close to Miami, enhancing regional familiarity)
• Salt Lake City Marriott University Park - Salt Lake City, UT
• Sheraton Boston Needham - Needham, MA
• Renaissance Des Moines Savery Hotel - Des Moines, IA

StepStone Hospitality Business Model and Operations

StepStone Hospitality’s business model focuses on providing comprehensive management services combining operational efficiency with asset enhancement strategies aimed at maximizing hotel profitability and service quality.

Comprehensive Management Approach

The company delivers full-service management encompassing operational leadership, financial oversight, and strategic planning, while tailoring solutions to owner and market needs.

Focus on Revenue and Margin Expansion

Through innovative approaches and continuous improvement initiatives, StepStone works to improve revenue streams and operational margins across their managed properties.

Employment and Career Opportunities at StepStone Hospitality

StepStone Hospitality fosters a culture of growth, empowerment, and collaboration, offering career opportunities supported by continuous training and development programs to enhance employee skills and leadership potential.

Available Positions

• Hotel and Restaurant Operations Staff
• Property Management Professionals
• Food and Beverage Development Specialists
• Asset Management and Advisory Roles
• Corporate Administrative and Support Positions

Benefits and Company Culture

• Focus on employee growth and empowerment
• Collaborative work environment
• Ongoing professional development and training
• Commitment to inclusivity and a supportive workplace

Financial Performance and Market Position of StepStone Hospitality

StepStone Hospitality demonstrated strong financial health with reported annual revenues amounting to $271.2 million supported by a dedicated workforce of approximately 526 employees.

Competitive Analysis

StepStone differentiates itself with a combination of hands-on operations, strategic asset management, and specialized food and beverage expertise, maintaining a competitive position by focusing on enhancing client asset value and guest experiences.

Market Reach and Expansion

With properties managed across major US cities including Charlotte, Orlando, and Salt Lake City, StepStone continues to expand its portfolio while maintaining excellence in hospitality management.

Corporate Social Responsibility at StepStone Hospitality

The company is committed to fostering inclusivity and a supportive environment for its team, focusing on building diverse and empowered work communities contributing positively to the hospitality industry.

Workplace Inclusivity

• Supportive environment for team members
• Promotes diversity and inclusion initiatives

StepStone Hospitality Locations and Contact Information

StepStone Hospitality is headquartered in Providence, Rhode Island, with managed properties in key markets including Miami’s vicinity.

Corporate Contact Information

Address: 333 Westminster Street, 4th Floor, Providence, Rhode Island 02903
Phone: 401-865-6901
Email: [email protected]
Website: stepstonehospitality.com

Future Outlook for StepStone Hospitality

StepStone Hospitality aims to continue expanding its portfolio and enhancing asset value for clients through innovative strategies and dedicated service, positioning itself for sustainable growth in the competitive hospitality management industry.

Growth and Innovation Plans

• Portfolio expansion across the United States
• Implementation of innovative management and operational strategies
• Enhancement of guest experiences through technology integration

Investment in Technology

StepStone utilizes technologies including reCAPTCHA, MonsterInsights, Microsoft Word, and Twitter Cards to streamline operations and improve the quality of guest experiences at managed properties.