Understanding the current and potential hotel performance within a market to determine potential hotel's performance and potential exit strategy.
Understanding how your specific site fits into the market and how it is critical to understanding what success could look like.
Validation of projections on future performance.
Evaluation of primary demand generators including current competitive hotel supply and potential development pipeline.
Most hotels, whether independent or branded, recognize the need for additional distribution partnerships or accessing hotel brands. Both have significant pros/cons and costs associated with them including commissions, development requirements, all types of fee structures, and expected revenue performance. Ability to help find the best balance of income potential relative to cost, and the level of control/involvement desired.
The most significant impact on ultimate success will be the selection of the Executive Committee. Assistance in recruiting and vetting the key hires to ensure the right team is in place.
Working with the hotel management company to ensure the necessary action planning of all divisions is being created and accomplished. This includes annual business planning and CapEx plan to target key opportunities, as well as reduce potential competitive risks.
A management company will impact an NOI more than any other decision. Monitoring and partnering with them to influence their performance ensuring maximum potential across all aspects of the business.
Coordinating with the management company to ensure timely and accurate monthly/annual reporting for a hotel and ability to work with a team to review, critique, and respond as a representative of ownership.
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