A key element to be evaluated in the development phase is brand evaluation. Does the property need a brand? If so what brand makes the best choice? If a brand has already been selected, does it include a Restricted Area or Area of Protection provision? Are there related properties that might cannibalize the occupancy? What is the true cost of the brand?
During the operational phase of a hotel project, our services include attending meetings to facilitate the relationship between ownership and management. Serving as the owners representatives, we take the lead to ensure effective management and financial performance, reviewing the property’s financial results with reference to budget projections. Written reports are provided to ownership on a regular basis as agreed, covering the key issues related to the overall management and financial performance of the property.
In addition, we would meet with operational management on a regular basis to maintain a current and accurate understanding of sales, marketing, guest satisfaction, staff morale and property maintenance. This phase requires regular visits to the property, monitoring the property’s operating expenses, evaluating staff training, reporting possible labor issues and providing ownership with timely reports and advice with regards to the operation of the property.