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Asset Management
Opportunities to refinance and/or restructure the debt of the
property
·
The position of the property in the market place - compare
occupancy, ADR and RevPar with properties in the
competitive set and with the overall market’s/destination’s performance
· Ensure timely replacement of F.F. & E. as appropriate to
continue to allow the property to effectively compete in the market place
· Be the liaison between the Management Company and ownership. What do portfolio and asset managers do?
· They develop
strategies for optimizing portfolio and asset performance.
· They analyze,
compare, contrast, and relate the actual performance of different types of assets
to develop more effective strategies and plans.
· They seek to
balance competing objectives -- client needs, social and economic priorities,
and maintaining the value of the portfolio’s assets.
· They target
the use of income generated by assets towards capital investment and
reinvestment and towards initiatives,
which
enhance customer satisfaction and operational effectiveness.
· They enter
into agreements with service providers to implement strategies and business
plans at the operational level.
· What
don’t portfolio and asset managers do?
· They do not
execute the strategies and plans that they develop. · Instead, they acquire the expertise and support of other organizations to execute those strategies and plans.
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