Asset Manager Service
One Time Report
On-going Services
Our Approach
Paramount Lodging Advisors provides the highest level of asset management services based on years of operations, development and transaction experience. Our professionals have completed over 250 hotel asset reviews, been involved in the management of 40 hotels, the development of 15 hotels and the buy/sell transactions of over 40 hotels.
Paramount Asset Management services focus on
Value Creation, the principal objective of every hotel owner.
The key elements impacting hotel value are:
Revenue performance
Expense management and control
Brand and Franchise issues
Capital Expenditure considerations
Legal and Safety compliance
Capital Structure and Refinancing
Paramount™ offers varied and flexible ongoing and one-time services that identify opportunities for Value Creation.
Paramount Property Scorecard
The Paramount Property Scorecard (PPS) provides owners a quick and quantifiable measure of the performance of hotel management at the property. It rates management on a 100 point competitive index for Revenue, Expense and Income Performance compared to relevant competitive hotels in the industry. Additionally, the PPS Report quantifies potential cost savings and revenue opportunities that can be realized at the hotel. These 'value opportunities' are identified by our operations experience and comparative hotel review.
This is a concise, 10 page, easy-to-read report that tells you in a score format
How is my management team performing?
Where are there specific opportunities to improve property income?
Asset Management Newsletter
Paramount Asset Management is constantly reviewing new trends, tactics and sales and expense opportunities in the industry and the Monthly Asset Management Newsletter shares this research with our ongoing Asset Management Clients.
MyHotelAssetManager.com
This online resource is a one-stop shop of tools and resources for hotel managers to run their hotel operations. From employee handbooks to job descriptions to 'How-To' Guides on promoting your hotel online, we have reviewed the best practices of franchisors, operators and other industries to provide the Ultimate Guide and Resource Center for Hotel Operations.
SERVICES:
Asset Manager Service
Paramount Asset Management provides ongoing support for your hotel operations identifying opportunities to increase revenue and reduce costs AND implement these findings into the hotel operations. In addition to an In-Depth Initial Review of the Hotel, we review all monthly performance indicators and provide a quarterly Asset Manager Scorecard with an action plan for managers to implement suggestions. Additionally, we conduct Safety and Security Audits, Marketing Audits and Utility Audits of the property on a regular basis to ensure optimal operations.
One Time Report
Paramount Asset Management provides a custom report to ownership based on a hotel visit and assessment that will typically include a valuation, a management evaluation and recommend action steps. The content of this report will be based upon specific objectives of the client. This service can be provided on fixed fee or hourly charge basis as is desired.
Limited, Select Service and Extended Stay Hotels: On-Going Asset Management Services begin with an in-depth Initial Review of Hotel operations. An Asset Manager Scorecard and accompanying Report identify opportunities to increase revenue and reduce costs. On an on-going basis, Paramount reviews monthly performance indicators, updates the Asset Manager Scorecard quarterly and coordinates with hotel management in implementing agreed action plan recommendations. Additionally, we conduct Safety and Security Audits, Marketing Audits and Utility Audits of the property on a regular basis to ensure optimal operations.
Full Service, Boutique and Resort Hotels: On-Going Asset Management Services are more comprehensive given the more complex nature of full service, boutique and resort properties. Of particular concern are:
Position and Penetration of Property
Market Demand and Supply Trends
Demand Generators and Trend Analysis
Position and Penetration of Property
SWOT Analysis of Property
Brand Contract and Performance Analysis
Market Driven Capital Deficiencies
Revenue Optimization
Operating Efficiencies, Profitability and Cash Flow
Labor Market Dynamics
Contingent Liabilities
Plant and Equipment Review and Useful Life Analysis