Asset Management

The primary difference between hotels and other forms of income-producing real estate is that while obviously incorporating a significant real estate component, hotels are primarily an operating business which is among the most complex of enterprises. And even with the best of hotel management companies handling day-to-day operations, the wise investor provides oversight and planning through an experienced asset management team.

In today's world, many hotel owners are outsourcing all or a portion of the asset management function. Unfortunately, many hotel asset managers view their role as that of an adversary to the hotel management company.  We disagree.  Our experience is that by working with management rather than against them, the hotel owner benefits.  Our approach is to challenge management, but also to understand their needs and motivations and to work to attain the goals of both parties.  We have successfully provided these services to some of the country's leading hotel investors.

Asset Management services include: periodic review meetings with hotel management to review current performance and forecasted results; review and monitoring of sales & marketing strategies and programs; review and monitoring of labor costs including systems used to control labor; compliance by the operator with its own procedures and processes; monitoring of inventory controls and costs of materials used in each department; and development and implementation of strategies to enhance asset value via revenue generation or cost containment measures. In this role, we also review and negotiate the annual operating plan, marketing plan and capital expenditures plan; monitor performance of the hotel market and competitive set, as well as any changes in the competitive landscape; and work with the Owner's construction staff and/or third party project managers in overseeing any major capital projects.

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