Asset Management is a systematic process of deploying, developing, operating, maintaining, upgrading and disposal of assets. The main objective of Asset Management is to ensure providing the best possible service to users in all dimensions and at the same time providing the most optimal returns for the Owner or Investor of the Asset. HOSTEC understands that the solutions best suited to your Investment objectives must also fit your risk management needs.
- Review of actual performance versus budget and prior year
- Benchmark versus comparable properties
- Review of rolling forecasts and business on-the-books
- Monitor effectiveness of revenue capture and cost control
- Monitor all charges from the management company
- Monitor sales and marketing activity
- Monitor guest and staff satisfaction surveys
- Monitor channel delivery and cost per booking by channel
- Monitor balance sheet and working capital requirements
- Monitor market rate, occupancy and RevPAR trends
- Monitor key demand generators by market
- Monitor planned supply additions
- Monitor refurbishment and expansion activity at competitor properties
- Monitor all pricing and distribution activity at competitor properties
- Monitor physical condition and anticipated capital expenditure requirements
- Ensure legal compliance with all relevant legislation, including licensing, disability legislation, health and safety
- Monitor all major systems for quality and suitability – HVAC, PMS, telephone, Internet, TV/video and all relevant interfaces
- Retain consultants and advisers on property matters as required to ensure owner’s interests are fully safeguarded
- Review and advise upon all contracts with third parties on owner’s behalf, particularly in regard to leases and material contracts
- Monitor all refurbishment and expansion activity on owner’s behalf
- Review and approve all insurance policies
- Communicate ownership expectations to management company and unit management
- Review proposed budgets, marketing plans and capital expenditure plans for appropriateness in the context of market conditions and owner’s requirements
- Facilitate review and approval process on behalf of owner
- Conduct annual review in comparison with initial investment objectives
- Estimate market value and evaluate alternative strategies, such as further investment or expansion versus continued ownership
- Monitor comparable sales activity and trends in asset financing
- Advise on initial selection and appointment of management/franchise company
- Monitor ongoing performance and contractual compliance
- Scrutinizes all charges for contractual compliance
- Evaluate system delivery, CRS performance and web performance