key ownership issue in today’s lodging industry
manager (Marriott, Hyatt, Starwood, etc.) responds
to ownership needs while maintaining brand
standards. In many situations, ownership needs the
cooperation of the brand manager in order to work
through market cycles, but lacks the appropriate
staff to handle these issues with the brand. In
such situations, Quorum can “manage your
.” Over the
years, investors and owners have utilized Quorum’s
extensive industry experience to serve as their
representative in dealing with their chain managed
hotels. These asset management services include:
Oversee the chain operator’s compliance with all
contractual agreements including financial planning
and reporting, staffing, expense reimbursement, fee
payments and central services.
- Negotiate with the operator on all items
requiring ownership consent and approval, including
annual budgets and brand standards.
- Advise and make recommendations to the owner on
annual operating and capital budgets presented by
- Attend monthly operator meetings to review
current financial results, evaluate condition of
the assets and overall progress in meeting all
financial, marketing and operational goals.
- Review and evaluate all contracts, licenses,
leases and capital requests made by the operator.
In short, Quorum will “manage the manager” on the
owner’s behalf and report its findings, concerns
and recommendations on a regular basis.