Asset Management/Business Planning Services
Initially created to assist institutional investors with managing the financial structure of a lodging property, asset managers have evolved into an “expediter”, a representative of ownership who is charged developing a synergistic relationship with property management, the franchisor and the lender to focus all parties on maintaining and enhancing the value of the hotel in line with the goals of the owner and/or investors.
Brush & Company is uniquely qualified to provide asset management services for a variety of hospitality industry investors. Scott Brush has more than 35 years experience in the hospitality industry including a background in operations (about 10 years) and analysis (15 years in a major accounting firm’s consulting division and over 10 years as
Brush & Company). In addition Mr. Brush’s educational background (Bachelor’s in hotel administration and Master’s in business) and teaching experience (graduate course in Hotel Asset Management at Florida International University) also lend themselves directly to the varied background necessary to a successful asset management undertaking.
Value enhancement may take a number of paths depending on the specific asset and it must be customized for the goals of each individual client. The approach may be directed more toward increasing revenue (RevPAR) via marketing initiatives, a change in branding or significant repositioning in one hotel while targeting new and or innovative cost containment (without negatively affecting brand standards) at another property. For one client value enhancement may focus on the short-term positioning of an asset for sale while for another client in a similar property it may focus on the long-term and the proper structure to pass the asset on to the next generation.
Asset management involves understanding not only the dynamics of the hotel industry and a property’s market position, but also client’s goals and their volatility over time. Asset management requires frequent communication between the asset manager and the client about the “possibilities” that may redefine those goals. It also requires frequent communication between the asset manager and hotel management to keep day-to-day management focused on the methods to achieve those goals.
As an outgrowth of involvement in the asset management process, Brush & Company has been called upon to assist in the development of business plans, either for the acquisition of an individual property or to set up an organization to acquire a number of lodging operations. In these engagements we serve as "expeditors" to assist in making sure all the bases are covered and the approach is logical.