General
With our Management Philosophy as a guide, HVS Hotel Management provides Hotel Management Services to a wide variety of hotels in a number of different locations across the United States. As a hotel operator/manager we have the capacity to maximize cash flow and return on investment for your property, thus increasing its value. The following gives you information on how we do it.
Getting to know the Property
When we take on a property we make an initial property visit during which our goal is to gain a complete understanding of the physical facilities, their condition, the market environment, operating procedures, and existing management personnel. From this point, we are able to formulate and begin to implement the changes that will be necessary to operate the hotel more efficiently and maximize revenues.
Cash Flow Maximization
In addition to maximizing revenues and managing expenses appropriately, this includes regular cash flow forecasting, weekly cash sweeps to concentrating accounts with excess funds automatically invested. We will monitor and help challenge real estate taxes and insurance costs. We will make debt service and other payments for the owner and assist in debt renegotiation.
Business Planning
Proper planning and information is required for a hotel to best reach its operating potential. HVS Hotel Management sees to it that a Business Plan is prepared annually for each hotel that we manage. The plan includes details on the hotel's market, capital improvement needs, and operating history. The preparation of the plan involves the use of activity calendars for planning and future monitoring. The information provided will work to support the hotel's marketing plan and operating budget.
Property Visits
Visits to the property occur on both a regularly scheduled and unscheduled follow-up basis for the purpose of inspection, consultations with management personnel, and ongoing operations and marketing reviews. Our quality control process also includes regular visits by anonymous shoppers who use report formats tied to our operating standards. This allows us to see our hotels through a customer experience.
Weekly Reports
We provide weekly reports to owners depending on their needs. Our accounting system allows owners to view financial data at any time using a web-browser. For instance, some owners receive a weekly report detailing month-to-date revenues, occupancy and Average Daily Rate (ADR) for the current month while others simply look at that data over the internet at convenient times and places of their own choosing.
Volume Purchasing Agreements
Whenever practical, volume-purchasing agreements are negotiated. Many hotels managed by HVS Hotel Management are franchised and full advantage is taken of the franchisor purchasing programs. Additionally, it is sometimes possible to arrange marketing and other hotel operations purchases in conjunction with other hotels we manage. When such arrangements are possible and provide a discount, costs are prorated to the properties benefited. No fees, commissions or other arrangements are charged or collected to benefit the management company for these services and our contract specifically forbids “Hidden Fees.”
Redecorating and Refurbishing
With our knowledge of current trends and products in the hotel and hospitality industry, we are adept in supervising the redecorating and refurbishments of properties. Redecorating and refurbishing work may be done by hotel employees, contractors or design firms, depending on the project’s scope. Fees, if any, depend on the scope of the work and the level of our responsibility.
