Hotel & Restaurant Management - Asset Management

Article Index
Hotel & Restaurant Management
Hotel Development & Pre-Opening Services
Hotel Cost Control & Financial Review
Hotel Sales and Marketing Services
Hotel Human Resource Management Solutions
Hotel Capital Management & Planning Services
Hotel Renovation
Hotel Operations Management
Hotel Consultation Services
Asset Management
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Asset Management

Our Asset Management Team concentrates on reviewing property operations and capital expenditures; identifying opportunities to increase profitability; ensuring competitiveness in procurement; ensuring the hotel operator is focused on the critical elements of success; monitoring changes in the competition and reacting accordingly; and analyzing results on behalf of ownership.

We will specifically provide the following:

Increasing sales and top line revenue focus
Maximize property returns through the pursuit of strategies for value creation.
Review and analyze monthly operator performance.
Participate in planning and monitoring of capital projects.
Administer owner relations and represent the company at board meetings.
Review and critique annual marketing plans and budgets.
Review asset positioning and make comparisons to market competitors.
Assemble and evaluate pertinent market and economic data.
Assist with legal issues and contract compliance.
Preparations of financial projections and valuations.
Prepare quarterly investment performance report.
Administer legal, tax and accounting formalities for each property.

Asset Review

A comprehensive asset audit will be conducted to formulate a targeted plan to uncover areas of opportunity. Understanding that each property is faced with its own market and property challenges, we will work together with the property management team in crafting a plan that is specific to the property, aligned with financial projections, and achieving our core objectives. This plan will be on detailed and presented to ownership for feedback and approval. Our initial property review will be broken into three areas:

Sales, Marketing and Revenue Management Review

Review current rate and revenue management strategies
Review Sales and Marketing Plan
Review Current Sales Deployment
Ensure Rate Parity protocols are in place
Determine current GDS rate and inventory strategies
Review current website and other on-line production
Review Sales team goals and individual production
Review current sales team incentive plan

Financial Review

Complete Access Accounting Internal Audit to identify controls in place
Detailed review of the historical operational P/L, General Ledger, A/P and A/R accounts
Review Inventory procedures
Analyze food and beverage sale abstracts
Analyze Liquor and Food Inventories
Review Adjustments & procedures for authorizing them
Analyze guest charging procedure to insure all revenue is being captured
Review all service Contracts
Review Vendor pricing

Operational Review

Evaluate current hotel management team
Review property customer service matrix scores
Review current property policies and procedures
Review current employee benefits, training procedures and turnover rate
Review departmental schedules
Review of operating hours in all outlets



 


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