PLHG's role is to help our clients make informed decisions. As owners and operators, we understand hotels for what they are: a service business combined with a real estate operation. These two aspects of the business require separate but complementary skill sets, which Park Lodge Hotel Group has demonstrated in its years of owning and operating its own hotel properties, as well as those of others. Some of the services we provide are:
- Solutions for Distressed Hotel Lenders and Owners: PLHG will analyze and evaluate hotel properties, on behalf of either the owner, operator or the lender, toward identifying the property’s strengths and weaknesses, whether they be inefficient management, problematic debt levels relative to the market in which the property competes, or a combination of the two. As an owner and an operator who has successfully operated its portfolio in down markets, PLHG knows the questions to ask of a property's management to fully flesh out the problems they face, and to help point toward a solution.
PLHG's corporate Sales & Marketing Team works with the individual property's sales staff to make sure that the business of sales, both internet and direct local selling, are being done in an effective and efficient way. PLHG's ability to oversee and implement proper rate management is crucial to the bottom line of its hotels; as with the airline industry, knowing what rate to charge and when to charge it is vital when your commodity is a "wasting asset," like airline seats or hotel rooms. Making sure that a managed hotel property ranks at the top of its competitive set for RevPar is one of the scorecards of a good management company, and PLHG's experience with its current portfolio of hotels is a good indicator of what it can do for others.
- On-site Management: PLHG will staff and efficiently operate hotel properties, as well as providing all financial reporting to ownership. Our team has the depth to staff a hotel quickly, and revitalize management toward making the property achieve its potential. PLHG's corporate Human Resources team is able to evaluate whether the property team that's already on-board when PLHG takes over the responsibility for a property's operation is indeed the right team, and if not, to go to marketplace to find the right hotel professional for the position.
Park Lodge Hotel Group's corporate accounting staff can provide the level of financial controls necessary to properly account for offsite operations, and to coordinate and cross-check results from the individual hotel properties.
- Hotel Receivership Services: PLHG is experienced in the process of taking over and managing distressed hotel assets. The fact that we are not simply a consultant, but a full service management company allows PLHG to offer one-stop shopping during the crucial transition/receivership phase of a hotel asset.
- Franchisor negotiations/consulting: Our relationship and experience with Franchisors such as Marriott and IHG allows us to bring value to our consulting clients looking for guidance in distressed situations. Our familiarity with how Franchisors act and think lets us map out a range of reasonable options for a property looking for relief from its Franchise requirements, as well as outlining what expectations are unreasonable from the Franchisor's perspective, and unlikely to be granted.
- Site Evaluation/Due Diligence: PLHG will evaluate a site on behalf of an ownership group for potential purchase and/or redevelopment as part of the due diligence process. We can provide market demand studies toward providing projected ranges of property gross revenue, as well as complete pro forma financial statements. Our experience as operators allows us to make detailed and accurate projections of net cash to service debt, based on our projections of gross revenue, under a range of pro forma scenarios.