Horwath HTL Hotel Asset Management

Transcription

1 HORWATHHTL_ASSET MANAGEMENT_2:Layout 2 26/2/14 11:56 Page 2 Global Leader in Hotel, Tourism and Leisure Consulting Celebrating 100 years in 2015 Horwath HTL Hotel Asset Management Hotel Asset Management - Planning & Development - Hotel Valutions - Tourism & Leisure - Strategic Advice - Health & Wellness

2 TM Horwath HTL, the worlds number one hospitality consultants. We are the industry choice; a global network offering complete solutions. Horwath HTL has become synonymous with quality, service, impartial advice and expertise. Whatever your requirements, we can help you succeed. Hotel Asset Management Our hotel experts know what it takes to ensure performance in all areas of your business. We will assess, explore and make detailed recommendations on how to improve business performance, whilst evaluating your internal processes against the best the industry can offer. Understanding what strategies and management practices result in increased cash flow and asset value, we take an assertive position in an asset management role as owner representative to maximise returns and asset value over time. This service is especially tailored to the particular needs of owners, be they institutions, companies or private investors, whose hotels are managed by an external operator. It can also be adapted to support owneroperators, especially those facing strict bank control or struggling to meet debt repayment obligations.

3 Horwath HTL - helping you achieve results at all stages Planning & Development: Appraisal Reports Destination & Large Scale Project Master Planning Facilities Programming Highest & Best Use Hotel Management Company Selection & Contract Negotiation Macro Tourism Analysis Market & Financial Feasibility Studies Market Entry Strategy Product Conceptualisation & Financial Structuring Residual Land Valuation Strategic Planning Tourism Planning Asset Management & Operational Support: Accountability Review Asset Management Advisory Benchmarking Best Practice Analysis Capital Expenditure Cost/Benefit Analysis Litigation Support Loan Underwriting Operational Reviews Owner Representation Property Tax Review Reposition Strategy & Analysis Sales, Marketing & Revenue Management Transactional Advice & Financial Restructuring: Asset Valuation Corporate Mergers & Acquisition Advisory Due Diligence Insolvency/Receivership Investment & Divestment Strategy Loan Work-out Pre-Lending Review Strategic Management & Planning Transaction Management & Closure

4 Horwath HTL Key Services Hotel Asset Management Horwath HTL Asset Management teams work to create and protect value. Our experts work along side owners, protecting their interests and maximizing returns on their investments. Hotel Business Recovery Horwath HTL has developed a range of products to help businesses navigate the difficult waters of a global economic downturn. Our Hotel experts provide support in all areas. Hotel Planning & Development Horwath HTL Planning & Development services are the cornerstone to any successful hotel project. Our international team of hotel experts can advise and navigate through all areas of hotel development. Tourism & Leisure Horwath HTL has some of the world's foremost experts in Tourism & Leisure development. We have a system for all aspects of your project. Hotel Transactional Advice Horwath HTL is skilled at guiding investors, lenders and owners through the complex nature of acquisition and disposal transactions, with experience of successful hotel financing and transactions of all sizes. Hotel Valuations Horwath HTL Valuation Services have valued Hotel properties all over the globe. Our teams are internationally recognised experts in single asset and portfolio valuations.

5 A two-phase approach The initial diagnostic review is an integral part of any Asset Management instruction and prepares the ground for our ongoing role as owner representative. To this end we propose a full range of complementary services designed to protect and enhance the value of your hotel investments over the short, medium and long term. Phase One: Diagnostic Review Depending on type of operation and time of instruction, it may include: pre-opening assistance, operational review, contract review & market review Review of facilities programme Evaluate and provide recommendations regarding management, branding and operations, including any possible outsourcing alternatives Evaluation of the hotel s market and product positioning within the context of its relevant peer group and of the client's proposed capital budget Analysis of all operating manuals, sales and marketing plans, financial history, budgets, policy and procedure manuals, labour agreements, the resumes of key management team members, and other documents that relate to hotel operation Interviews with managers, department heads and selected line employees to determine their responsibilities, competencies and ability to fulfill their roles Reviewing the property s various systems and controls, evaluating its revenue generating capabilities, establishing cost containment procedures and cash flow targets and goals, and benchmarking performance, revenues and expenses Our approach when undertaking Asset Management instructions is to seek to maximise the value of our client s interests. Phase Two: Ongoing Owner Representation Physical Property Review Qualify existing, and/or proposed FF&E and capital improvement/expenditure plans Analyze, review and negotiate annual budget/business plans Management team oversight, provide ongoing monitoring of cash flow and hotel operations Recommend and help implement initiatives to optimize cash flow (e.g. assess staffing levels, review cost structure, negotiate with brand operator, etc.) Client Survey (mystery guest analysis, guest satisfaction, tour operator surveys) Ensure management contract compliance Prepare and distribute required ownership reporting Manage key stakeholder relationships Represent owner interests in all potential key contract negotiations Provide continued monitoring of hold/sell analysis and timing Coordinate hotel disposal efforts A comprehensive service delivering tangible results: An initial diagnostic report Monthly or quarterly Asset Management reports according to your needs Annual review Ongoing liaison with the operator as required to ensure full owner representation Regular review meetings with the operator to discuss performance Administration of all CapEx requests

6 TM Horwath HTL Hotel Asset Management Working to create and protect value Our experts have tremendous experience in hotel operations, finance and real estate. "Nominating Horwath HTL as our Portfolio Manager was the perfect choice for our Investment Fund in order to ensure a professional operation of our touristic assets portfolio. Their market insights and operational know-how, paired with their relentless pursuit of perfection and broad range of experience gives our shareholders assurance that their investments are well maintained from an operational point of view." David Nath, Member of the Board Keystone Hospitality Fund SCA "In our quest to become a more streamlined and quality oriented company, Horwath HTL has been our reliable partner for the last 4 years. They helped us to create greater value for our guests while at the same time improving profitability for our shareholders." Tomislav Popovic, CEO, Maistra d.d., 24 property chain in Istria, Croatia "We believe we made the right choice to have commissioned Horwath HTL to undertake a detailed review of our internationally branded and operated hotel in Budapest. Horwath HTL has produced a very professional assessment and list of recommendations, and will be advising us further on asset management aspects of the property going forward." Philip Evans, Chief Executive Officer, TriGranit Management Corporation

7 Horwath HTL Hotel Asset Management - working to create and protect value Operational Advisory Services Our qualified and experienced hotel professionals work directly with hotel management to address problem areas or to develop strategies for improving operational and bottom line financial results. We can provide a service geared to any aspect of hotel operations. Be it related to Operating Departments, Sales & Marketing, Human Resources or Controlling. Additionally, we provide coaching to existing management on how to improve daily operations and implement actions to reach strategic goals. Repositioning Strategy & Analysis Market conditions, a change of ownership and faulty branding can all contribute to underperformance. Our skilled teams work with owners to identify the problems, then recommend and implement a strategy with the best chance of success. There are a variety of real estate uses that are compatible with an operating hotel. These may have the potential for higher returns, whilst at the same time diversifying the overall risk profile of an asset. Sales, Marketing & Revenue Management We provide solutions for Hotel Sales & Marketing, Hotel Revenue Management/Yield Management, and Hospitality ecommerce. We provide practical, hands-on help to combat lagging performance in today s challenging and rapidly changing economic cycles. We have experience in assisting both independent and branded hotels and understand the dynamics of franchise, brand managed and third party management structures. Investment & Divestment Strategy We have a proven track record in providing firstclass advice to a wide range of clients including banks, real estate and hotel owners and financial investors. We can suggest a clear investment strategy that takes account of current market conditions, client requirements and the business cycle. Hotel Management Company Selection & Contract Negotiation Selecting a management company (for hotels, resorts and serviced apartments) and negotiating a management contract are vital to achieving the optimum ROI and maintaining asset value. Even the most experienced owners and developers can find this increasingly challenging, but we understand exactly what s required, and can help you get it right. Due Diligence If you have a prospective purchase in mind, we can help to validate your decision to buy a particular business by investigating its financial situation, legal obligations, customer records and other documents, plus any other material circumstances.

8 TM ASIA PACIFIC AUSTRALIA Ron de Wit CHINA, BEIJING Wang Shu & Julie Dai CHINA, SHANGHAI Zoe Wu HONG KONG Nigel Summers INDIA Vijay Thacker INDONESIA Matt Gebbie JAPAN Koji Takabayashi MALAYSIA Sen Soon-Mun NEW ZEALAND Stephen Hamilton SINGAPORE Robert Hecker THAILAND AFRICA SOUTH AFRICA Michele De Witt EUROPE ANDORRA Reinhard Wall AUSTRIA Gerald Kroell CROATIA Sanja Cizmar CYPRUS Christos Michaelides FRANCE Philipe Doizelet & Stéphane Durand GERMANY Christian Ott-Sessay HUNGARY Marius Gomola IRELAND Naoise Cosgrove ITALY Zoran Bacic NETHERLANDS Ewout Hoogendoorn NORWAY Vivian Sivertsen POLAND Dariusz Futoma PORTUGAL Reinhard Wall RUSSIA Michael O Hare mohare@horwathhtl.com SERBIA Silvija Loreta slovreta@horwathhtl.com SPAIN Reinhard Wall rwall@horwathhtl.com SWITZERLAND Heinz Wehrle hwehrle@horwathhtl.com TURKEY Metin Erdogdu merdogdu@horwathhtl.com UNITED KINGDOM (Global Practice Leader) Patrick Angwin pangwin@horwathhtl.com NORTH AMERICA ATLANTA, USA Paul Breslin pbreslin@horwathhtl.com DENVER, USA John Montgomery jmontgomery@horwathhtl.com MIAMI, USA Andrew Cohan acohan@horwathhtl.com TORONTO, CANADA Gilles Lariviere glariviere@horwathhtl.com LATIN AMERICA ARGENTINA Carolina Spinelli cspinelli@horwathhtl.com BRAZIL Michael Schnurle mschnurle@horwathhtl.com DOMINICAN REPUBLIC Juan Méndez jmendez@horwathhtl.com