As hotel asset management consultants, StoneCreek Partners' asset management services for hotel and resorts includes traditional hotel asset management, as well as direct support of sales and marketing programs to the tour and travel industry.
Hotel and resort projects are more than bricks and mortars. Once a project is successfully formulated, deal-structured, and constructed, ultimate success will be obtained through the people and systems, employed to market, lease, and manage a property - the asset management team.
As hotel asset management consultants, StoneCreek consulting services include facilitating an owner's organization retention and supervision of third-party property management firms, or, acting directly as property manager. This includes solicitation of proposals to manage, negotiation of management contract terms, supervision of property manager activities, capital and FF&E review and approvals, banking procedures, and property-level tenant leases, service contracts, and other vendor relationships.
Hotel Owner Representation
For some client circumstances, StoneCreek is best retained as a representative of owner, or "Owner's Rep" for one or more business matters. The designation and defined role can convey an additional seriousness of purpose by and between an owner and StoneCreek, that is important to convey and be observed by third-party vendors.
Hotel Asset Management Consultants to Support Property Takeover Planning
One area often overlooked during an acquisition is proper consideration of the actual takeover or possession. For a complex property, or gegraphically-dispersed portfolio, takeover planning is a major consideration.
The takeover is equivalent to a pre-opening program for a newly-built property. For many takeovers following an acquisition, the difficulty is the lack of any operating history with which to confirm certain direction to on-site property personnel. Acting as asset management consultants, the level of detail ranges from what move-in package to provide new apartment tenants, to whehver the property tax assessments should challenged for a current year.
In some cases, a property takeover will be a high-profile undertaking with a local community. Proper conduct of a takeover, especially with local governmental and media relations, can be a key factor in stabilizing a property for a successful long-term hold.
Hotel Business Plans
In many cases, the owner of a complex asset may desire a formalized business plan to be prepared and approved, prior to initiating a takeover or workout, or in initiating a following year operating plan. Where a detailed business plan does exist, StoneCreek often acts as hotel asset management consultants where the hotel owner may be interested in a third-party review prior to plan implementation. This business plan would include not only a property-level plan but a plan with owner's investment and exit considerations included as well.
StoneCreek's business planning work often includes full-fledged corporate strategic planning. This type of assignment includes opportunities/constraints analysis, preparation of plan documents, and financial projections that either evaluate or reflect management's overall strategy. In many cases, StoneCreek can assist a client organization through the facilitation of senior management retreats. These retreats can be used to review corporate mission statements, set corporate goals and objectives for plan years, and to discuss strategies for meeting such objectives.
Hotel Asset Management Consultants for Property Workouts
StoneCreek can provide aggressive and hands-on assistance in workouts of distressed properties. This can take the form of a "hands on" asset management assignment or specific technical studies and support of a client's in-house efforts. The scope and emphasis of the work product will vary based on the results of StoneCreek's initial Property Diagnostic Audit, or client-approved Asset or Portfolio Business Plan. more ...
