Services
Having a hotel in a great location and managed by one of the major brands is no guarantee for lodging success. Active involvement of the Owner is also needed. A professional asset manager focuses and executes owners' objectives to preserve and enhance the value of the asset and maximize return. In these very challenging times for the hotel industry, the asset manager assures that fixed and variable costs are minimized and that the hotel is properly positioned and is operated effectively and efficiently against its positioning to assure optimum market share, profitability and asset value. I've been doing this successfully for more than 20 years. With experience in single and multi-unit hotel operations, hotel marketing, knowledge of finance and a background in hospitality industry consulting, I have assisted owners, prospective owners and lenders in formulation of objectives, development of strategic plans, implementation of best practices, in due diligence relating to acquisition or disposition of hotel assets and workouts of troubled properties. I have developed recommendations for renovation and repositioning, for additions and for reconfiguration and alternate use of space. Following are highlights of some of the services I offer:
Intensive, Value Added Asset Management
Monitoring and oversight of performance including P&L and cash flow reviews, market share, yield management strategies, channel marketing effectiveness, website and Internet marketing opportunities, contingency planning, capital project priorities and approvals, management contract compliance and investment yield.
Strategic Assessment and NOI Improvement Plans
SWOT assessment,market share, market position, repositioning; lease and service agreement opportunities, improved space utilization, potential outsourcing, property tax and insurance cost reduction, purchasing effectiveness, labor utilization and control, revenue enhancement and cost reduction initiatives.
Distressed Hotel Assistance; Troubled Hotel WorkoutsI've been through several down cycles and am experienced at working with owners, managers, brands and lenders to quickly implement cost reductions to limit flow-through erosion, pinpoint untapped or under-exploited revenue opportunities, optimize rate achievement, assess future property potential, restructure debt and assist with workout plans.
Strategy Development and Due Diligence
Review of physical property, location, market, positioning, branding, operating results and management. Financial modeling to aid decisions regarding potential acquisitions or dispositions and workouts.
Sensitivity Analysis and Alternate Scenario Modeling
Exit Strategy Formulation and Disposition Management
365 Marshall Ash Street, Suite 2A
Bolingbrook, IL 60490
(630) 759-2495 FAX (630) 839-2665
Skype jimburr 365
jburr@jimburr.com
