- $31 million profit on sale of a hotel only five years old by implementing HVS operational directives and aggressive asset management to control expenses.
- 19% F&B profit achieved vs. a 13% loss the prior year.
- Increased to 108% to 116% RevPAR range in indexes against two comp sets for the rolling 12-month period.
- Increase in food revenues identified through pricing adjustments
- 20% increase in Room revenue due to new e-commerce and Internet marketing initiatives
- Hired a new operator, reduced management fee 25% and improved quality and performance
- Identified opportunity for 25% potential increase in Room revenue due to strategic ADR management.
- Identified 15% savings in payroll through staff position consolidation.
- Identified 15% savings in overhead expenses.
We engaged HVS for Asset Management services and within 6 months they turned around our property performance and we were achieving significantly better RevPAR index scores. I would highly recommend HVS for advice and assistance in planning, developing, and operat[ing] a hotel.
HVS has stood the test of time in the hotel industry. Our hotel investment partnerships go back to 1990, through good and not-so-good economies. Their team has the ability to do what it takes to make and keep each deal successful.
We are often asked by our clients who are making a change in management companies to provide names of potential operators that are both capable and reputable. Invariably, HVS Hotel Management is always at the top of our list. The team offers three qualities that we consider vitally important in recommending them: honesty, integrity, and creativity. There are very few people in the business that will always do the right thing for their clients. Kirby is one of them. And when it comes to turning a property around, his group really puts forth the effort. Their numerous successes are living proof.
We nominated HVS Hotel Management to be the Receiver in the most complex project we have ever foreclosed on. Their strategic advice along with their operational and marketing efforts helped resolve a lot of difficult issues. The Receiver’s Attorney they brought to the situation was also outstanding.
Developing a relationship with HVS Asset Management has been one of the most enjoyable experiences of my professional career. The individuals at HVS Asset Management have the depth of knowledge and experience to solve difficult issues and maximize cash flow for their clients.