Property / Asset Management

As part of the oversight of assets operated under third party management contracts by international hotel chains (Accor, Rezidor, Marriott, IHG, Starwood…), Algonquin’s AM team is responsible for property and asset management in order to ensure an adequate level of investor protection by closely following (i) their real estate investments, (ii) third party managers’ operational performances of their hotels as well as (iii) maximizing investor cash flows and return on investment.

Property Management:
  • Lease and/or management contract monitoring, especially during the renewal and capex investment phases (relationship with tenants);
  • Monitoring and enforcement of third parties’ contracts obligations;
  • Critical appraisal of capex program requirements;
  • Technical audits and capex budget follow up;
  • Attendance of co-ownership meetings;
  • Project management;
  • Conversion of commercial real estate to optimize rental value.

 

Asset Management:
  • Regular interactions with hotels’ operational teams to optimize :
    • The marketing mix and ability to drive top tier hotel income;
    • F&B turnover, if necessary by partnering with specialized restaurant franchises;
    • Productivity gains, from payroll to other fixed and variable costs lines.
  • Positioning and brand analysis. If required, critical rebranding assessment and process management;
  • Active role in budget planning;
  • Monthly operational and commercial reporting;
  • Monitoring hotels’ corporate, administrative, financial, and legal matters.