The market changes every day. Mihran Kalaydjian Hospitality Consulting Firm provides stability.
You've heard that the present economic landscape is ominous, unprecedented, uncertain. We assure you it is not impassible.
The goal of asset management is to advise a client on the market, operations and financial management of a hotel to help maintain or improve its value. The client might be the owner of the property, a lender or other interested party. We work for the client by seeking opportunities to maximize cash flow while maintaining or improving the market position and physical attributes of a hotel or resort and monitoring the on-site property manager (individual or management company) on a regular basis for operating performance and maintenance of this valuable asset.
We're ready to listen and respond with services tailored to your specific goals and challenges. Examples of our satisfied clients include:
Many factors influence when a client may be forced to examine market position, financial structure, operating policies or management of a hotel. Competitors with modern technology, aggressive marketing or changing brand affiliations put pressure on owners and lenders to reexamine their situation. Rising remodeling costs make it more important to maintain a hotel or motel at its best. Without good oversight management, the equity and reputation built up over the years may diminish rapidly. More importantly, the value of the property does not achieve its maximum potential so cash returns from either operations or a sale may not reach the owner's goals.
Through recommendations to improve the physical facility, increase revenue growth, and provide consistent quality of service, and reviewing the market strategy and expense controls, efforts are made to enhance the value of the asset. The property is visited on a regularly scheduled basis for inspections and consultations with management personnel on ongoing operations, marketing, and the implementation of suggested changes made during previous visits.
Written reports regarding property visits and meetings with corporate and on-site management are submitted as appropriate. Additionally, written comment is provided to the owner as a follow-up on reports from the Operator and their staff. These follow-up reports include an analysis and critique of the financial statements.
Asset management provides an independent perspective on the hotel and insures owners or lenders that their interests are being addressed.