Allow our 35 years of operational, re-positioning and renovation experience to help expand a hospitality real estate portfolio.
HRS will assist in identifying properties that are a match to our client's investment and portfolio goals. We will assist you in the acquisition and touch on all the key disciplines to manage your portfolio responsibly.
Some of the key features we provide –
Now Offering Asset Management Services
Market research, due diligence, negotiation of cost and brands’ PIP Lists (Property Improvement Plans).
• Research available hotels for sale, mostly with established brokerage firms
• Research market conditions and similar transactions for best value
• Evaluate the potential cost of PIP requirements, if applicable, negotiate.
Advise on positioning and recommend brand selection options – implement action steps.
• It may be advisable to consider another brand or affiliation
• Evaluate other brands in the market, appropriate options
• Evaluate cost of alternate brand options and their requirements for upgrades
Provide a financial plan for renovation and CapEx (Capital Expenditures) budgets.
• Evaluation will show the needs and a budget will be provide for 1 and 3-year projects
• Oversight on quotes and appropriate replacement equipment
Manage CapEx investments for best value.
• A study will be done of building systems, prioritizing its scheduled repair and replacement.
• Renovation oversight
• Ensure that proper funding exists to meet required projects
Identify and evaluate a 3rd. party management firm.
• Conduct a search for a match in a management firm, their strengths and costs.
• Negotiate terms and provide direction to senior management
• Establish accounting reports that are industry standard
Establish market share, sales & marketing strategy and staffing for management firm.
• Review of updated Marketing Plan, to include production goals
• Review of productivity of the sales team
• Evaluate yield management through other avenues
Collaborate on weekly and monthly meetings with management firm and P&L review.
• Interact with senior management at the hotel on highlights and key activities; conduct regular walk-throughs.
• Ensure that guest satisfaction meets and exceeds goals
• Review of monthly financial reports, cash flow.
• Review of potential risks in building, employee issues and other legal
Advise on property tax valuations and negotiate where appropriate.
• Evaluate potential tax savings that may come with valuation swings, mostly at the time of acquisition.
Research and advise on potential exit strategy.
• Although the aim may be a long-term hold, market conditions or the hotel’s physical condition may prompt consideration to sell. The timing and pricing will be very important.
The asset manager assists our client in all applicable phases, and may introduce best qualified specialists to the process in order to create success in investing.