A comprehensive asset audit will be conducted to formulate a targeted plan to uncover areas of opportunity. Understanding that each property is faced with its own market and property challenges, we will work together with the property management team in crafting a plan that is specific to the property, aligned with financial projections, and achieving our core objectives. This plan will be on detailed and presented to ownership for feedback and approval. Our initial property review will be broken into three areas:

Sales, Marketing and Revenue Management Review

• Review current rate and revenue management strategies
• Review Sales and Marketing Plan
• Review Current Sales Deployment
• Ensure Rate Parity protocols are in place
• Determine current TPI/GDS rate and inventory strategies
• Review current website and SPG production
• Review Sales team goals and individual production
• Review current sales team incentive plan 
  

Financial Review

• Complete “Access Accounting Internal Audit” to identify controls in place
• Detailed review of the historical operational P/L’s, General Ledger, A/P and A/R accounts
• Review Inventory procedures
• Analyze food and beverage sale abstracts 
• Analyze Liquor and Food Inventories 
• Review Adjustments & procedures for authorizing them  
• Analyze guest charging procedure to insure all revenue is being captured
• Review all service Contracts
• Review Vendor pricing

Operational Review

• Evaluate current hotel management team
• Review property customer service matrix scores
• Review current property policies and procedures
• Review current employee benefits, training procedures and turnover rate
• Review departmental schedules
• Review hours of operation of all outlets