Asset ManAGEMENT of LIMITED SERVICE LESS THAN 120 ROOMS

       LED BY MIKE AMARAL

The success of a hotel extends beyond its physical presence – it hinges on effective strategies, operational excellence, and sound financial management. Hospitality Advisory Associates (HAA) comprehensive suite of Hotel Consulting and Asset Management Services is designed to guide clients through the intricacies of hospitality, ensuring their establishment thrives in a competitive landscape. From expert insights that enhance guest experiences to meticulous financial planning that maximizes profitability, HAA is here to partner with you on the journey to hospitality excellence.

With over four decades of experience in hospitality and hotel operations, our chief Asset Manager, Michael Amaral is a seasoned hotel veteran. His expertise encompasses hotel development, franchising, operations, turnaround management, and consulting. He has collaborated with major hotel brands including Marriott, Hilton, IHG, Choice, and Radisson Hotels. Having held key executive positions, including Chief Operating Officer of a prominent public hotel company with over 125 hotels, he brings a wealth of knowledge to the table. Known as the “30 Minute” CEO he can quickly identify P&L and operational issues that are impeding sales, increasing costs, or creating low Guest Satisfaction Scores. HAA intends to be a resource to ownership to keep an eye on the ball to intervene with support early before issues spin out of control. 

We have a team of experts with diverse backgrounds and skillsets, allowing us to provide comprehensive consulting services to businesses of all sizes and industries.

- Operational Performance Analysis: Regular submission of comprehensive discussions and analyses of the asset's operational performance.

- Operating Results Review: In-depth assessment of operating results vis-à-vis the Operating Budget, offering valuable insights.

- STR Report Analysis: Thorough evaluation of STR report data to provide an insightful overview of the hotel's performance.

- Ownership Distributions: Ensuring the accuracy and punctuality of monthly distribution calculations.

- Transparent Financial Accounting: Keeping meticulous records of management fees, "pass throughs," centralized services, and incentives charged.

- FF&E Expense Tracking: Monitoring and managing furniture, fixture, and equipment (F.F.&E.) reserve charges, maintaining an updated expense balance.

- Guest Satisfaction Assessment: Regularly reviewing and reporting on the hotel brand's Guest Satisfaction standings.

- Performance Threshold Monitoring: Scrutinizing specific performance thresholds as outlined in the Hotel Management Agreement.

- Ownership Support: Offering up to one hour of weekly phone support to ownership.

- Operating Budget Evaluation: Collaborating with the operator and ownership to review and provide constructive feedback on the annual operating budget, facilitating the approval process.

- Capital Expenditure Plan: Providing insights, recommendations, and assistance in obtaining Ownership approval for the Capital Expenditure plan.

- Monthly Retainer: A fixed monthly fee of $1,500.

- Hourly Rate: Additional services are billed at a rate of $195 per hour. This applies in November, December, and January, exclusively for work related to the Annual Budget and Capital Budget, including their approvals.

- Travel Expenses: Any necessary travel and associated expenses will be billed separately, following pre-approval by ownership.

- Consulting Services: Monthly Retainer does not encompass other consulting services, such as corporate guidance, training, or due diligence, which may be requested or required by ownership.

Note: HAA reviews all rate and rate structures, annually in December of each business year. 

- Scope Flexibility: The rates and scope outlined are designed for asset management concerning fully operational nationally branded or independent select service hotels (ranging from 80 to 120 rooms). For projects like new constructions, conversions, full-service hotels, resorts, luxury boutiques, and F&B venues, bespoke pricing and project scopes will be devised based on asset and ownership requirements.

- Unforeseen Work: Any tasks beyond the predefined scope will be billed at $195.00 per hour until a revised agreement is established.

- Asset Quantity Limit: This agreement encompasses managing up to eight select service units. Should the scope exceed this limit, the agreement and the role of the asset manager will be adapted to incorporate additional asset managers, as needed.

· Leveraging substantial industry experience and a steadfast commitment to quality, HAA is well-prepared to not only enhance asset value but also assist in fostering the growth of your hotel investments.