Hotel Asset Management at Lausanne Hotel School (EHL) | Flashcards & Summaries

Lernmaterialien für Hotel Asset Management an der Lausanne Hotel School (EHL)

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen Hotel Asset Management Kurs an der Lausanne Hotel School (EHL) zu.

TESTE DEIN WISSEN

HAM Definitions

Lösung anzeigen
TESTE DEIN WISSEN

• To manage all of the hotel assets from an owner’s
perspective
• Assets include building, FF&E, CAPEX, management
company, brand, people (employees and customers),
contracts, loyalty programs, debt.
• To build and maintain relationships between the owner
and all parties involved with the hotel assets.
• The broad objective of asset management is to maximize
property value and investment returns.

Lösung ausblenden
TESTE DEIN WISSEN

What jobs arise within Asset Management Companies?


Lösung anzeigen
TESTE DEIN WISSEN

• Investment Manager (responsable d’investissements)
• Asset Manager (gestionnaire d’actifs)
• Fund Manager (responsable de fonds d’investissement immobilier)
• Portfolio Manager (responsable des relations avec les clients et du reporting financier)
• Property Manager (gestionnaire locatif et technique)
• Facility Manager (responsable des services aux utilisateurs)
• Risk Manager

Lösung ausblenden
TESTE DEIN WISSEN

What is a hotel asset management plan?

Lösung anzeigen
TESTE DEIN WISSEN

«The purpose of the plan is so ownership or any other interested party can easily and without
confusion understand the specific attributes of the asset and the historical and current dynamics
of the hotel’s performance, as well as the competitive set and the broader economic market area.
Of utmost importance, the plan will concisely spell out the road map to create value, the cost
expected to be incurred, and the ultimate disposition and exit from the investment.»

Lösung ausblenden
TESTE DEIN WISSEN

Parts in an Asset Management Plan: 

Lösung anzeigen
TESTE DEIN WISSEN

Executive Summary

Index / Table of Contents

Summary of the physical components (facilities) of the property

Key dates, ownership structure, business models/contracts

Market overview (macro / micro economy, and competition)

Branding strategy (if any)

Performance review (challenges and opportunities)

ESG (Environmental, Social, and Governance) / CSR considerations and recommendations

Risk and legal analyses and recommendations

Capital planning

Action Plans with Implementation Guidelines (both non-CAPEX-related and CAPEX-related improvements)

Exit Strategy

Key data summary, including an abstract or synopsis of particularly important elements (e.g., the HMA)

Lösung ausblenden
TESTE DEIN WISSEN

Executive Summary

Lösung anzeigen
TESTE DEIN WISSEN

A two- to three-page recap of key conclusions and recommendations that should enable the
stakeholders to make an informed decision.
NB:
Many stakeholders may not be familiar with the asset!
Many investors / shareholders will read only this summary and not the full report.
Tip: Bullet points, easy to read and understand (short and sweet!).

Lösung ausblenden
TESTE DEIN WISSEN

Summary of the physical components of the property

Lösung anzeigen
TESTE DEIN WISSEN

• Location analysis, including accessibility and visibility
• Number, type, size of guest rooms
• Number, type and size of F&B outlets and meeting/banquet rooms
• Other Operating Departments (e.g., spa and fitness/gym facilities, parking, co-working)
• Other amenities (room service, others)
• Special differentiators (e.g., direct connection to a shopping mall, office park or airport
terminal)
Tip: Usually a one-page table or chart – use visuals!
NB: Many stakeholders may not be familiar with the asset!

Lösung ausblenden
TESTE DEIN WISSEN

Key dates, ownership structure, business models / contractual relationships

Lösung anzeigen
TESTE DEIN WISSEN

In order to make timely and well-informed decisions, stakeholders must be clear about:
• The ownership/shareholder structure and strategy
• The business models and contracts that influence both owning and operating the asset (e.g., leases,
management or franchise agreements)
• Important dates or deadlines that must be respected
Tip: The ownership structure and business model relationships are best shown in a chart!
NB: Many stakeholders may not be familiar with the asset!

Lösung ausblenden
TESTE DEIN WISSEN

Market Overview (macro / micro economy, and competition)

Lösung anzeigen
TESTE DEIN WISSEN

Markets are rarely static – they are constantly changing, often in cycles. Hotel stakeholders need to be
aware of anything that might significantly influence the performance of the asset.
• Economic indicators and trends
• Government legislation / political changes
• Real estate conditions and developments (office, retail, industrial, residential)
• Sources and profile of hotel demand
• Existing and future competition (for the hotel, including its facilities (F&B), fitness, etc. and other types
of accommodation)
NB: Many stakeholders may not be familiar with the market! The overview should briefly summarize
anything the might impact the future performance of the hotel!

Lösung ausblenden
TESTE DEIN WISSEN

Branding strategy

This section should answer the question: Should we keep the existing brand, rebrand or go independent?

Lösung anzeigen
TESTE DEIN WISSEN

This section should answer the question: Should we keep the existing brand, rebrand or go independent?
• Analysis of the current brand performance and contract
• Identification of other branding options
– Pros and Cons of each
– SWOT analyses
– Competitive set analysis
– Value created by such change
NB: In case of a rebranding, usually one or two options are presented to the investors; a full valuation per brand
is requested, including a PIP.

Lösung ausblenden
TESTE DEIN WISSEN

Performance review (challenges and opportunities)

Lösung anzeigen
TESTE DEIN WISSEN

The performance of the hotel is the primary driver of its value. In order to be able to increase the value of the asset in the
future in accordance with the owners objectives, one must understand the elements that determined the hotel’s current and
past performance and enable an informed assessment of the budget.
• Summary P&L table
• Analysis of Revenues: historical, current and projected; and how they compare to valid benchmarks – if below, why?
• Analysis of Costs: historical, current and projected; and how they compare to valid benchmarks; if above, why?
• Analysis of Operating Profits: historical, current and projected; and how they compare to valid benchmarks – if below, why? Is it
due to an underperformance of revenue centers or poor cost management? Calculate the possible upside!
• Analysis of Net Profit: Are non-operating revenue centers optimized? Are fixed costs minimized?
• Conclude with recommendations to improve the profitability of the asset with and without major Capex.
NB: For these analyses, all operating data (P&Ls, PACE, guest comments, personal visits, etc.) plus external information and
data provider information (STR, HOTSTATS,.. ) must be used. Past, present and projected performance must be reviewed in
detail using all of the relevant KPIs. Focus on major variances

Lösung ausblenden
TESTE DEIN WISSEN

Other review (challenges and opportunities)

Lösung anzeigen
TESTE DEIN WISSEN

• Accounts receivable
• Cash flow table and returns , cash flow projections ( forecast)
NB: For these analyses, all operating data (P&Ls, guest comments, personal visits, etc.) plus external information must be
used. Past, present and projected performance must be reviewed in detail using all of the relevant KPIs. Focus on major
variances

Lösung ausblenden
TESTE DEIN WISSEN

HAM Definition 2

Lösung anzeigen
TESTE DEIN WISSEN

• In general terms, hotel asset management is the service of
assisting hotel owners in realizing their investment goals.
Asset managers act as an owner’s agent or representative to
ensure that a hotel is acquired for a reasonable price; is then
operated properly during the period of ownership; and
ultimately is disposed of at an appropriate time and price.

Lösung ausblenden
  • 527 Karteikarten
  • 71 Studierende
  • 6 Lernmaterialien

Beispielhafte Karteikarten für deinen Hotel Asset Management Kurs an der Lausanne Hotel School (EHL) - von Kommilitonen auf StudySmarter erstellt!

Q:

HAM Definitions

A:

• To manage all of the hotel assets from an owner’s
perspective
• Assets include building, FF&E, CAPEX, management
company, brand, people (employees and customers),
contracts, loyalty programs, debt.
• To build and maintain relationships between the owner
and all parties involved with the hotel assets.
• The broad objective of asset management is to maximize
property value and investment returns.

Q:

What jobs arise within Asset Management Companies?


A:

• Investment Manager (responsable d’investissements)
• Asset Manager (gestionnaire d’actifs)
• Fund Manager (responsable de fonds d’investissement immobilier)
• Portfolio Manager (responsable des relations avec les clients et du reporting financier)
• Property Manager (gestionnaire locatif et technique)
• Facility Manager (responsable des services aux utilisateurs)
• Risk Manager

Q:

What is a hotel asset management plan?

A:

«The purpose of the plan is so ownership or any other interested party can easily and without
confusion understand the specific attributes of the asset and the historical and current dynamics
of the hotel’s performance, as well as the competitive set and the broader economic market area.
Of utmost importance, the plan will concisely spell out the road map to create value, the cost
expected to be incurred, and the ultimate disposition and exit from the investment.»

Q:

Parts in an Asset Management Plan: 

A:

Executive Summary

Index / Table of Contents

Summary of the physical components (facilities) of the property

Key dates, ownership structure, business models/contracts

Market overview (macro / micro economy, and competition)

Branding strategy (if any)

Performance review (challenges and opportunities)

ESG (Environmental, Social, and Governance) / CSR considerations and recommendations

Risk and legal analyses and recommendations

Capital planning

Action Plans with Implementation Guidelines (both non-CAPEX-related and CAPEX-related improvements)

Exit Strategy

Key data summary, including an abstract or synopsis of particularly important elements (e.g., the HMA)

Q:

Executive Summary

A:

A two- to three-page recap of key conclusions and recommendations that should enable the
stakeholders to make an informed decision.
NB:
Many stakeholders may not be familiar with the asset!
Many investors / shareholders will read only this summary and not the full report.
Tip: Bullet points, easy to read and understand (short and sweet!).

Mehr Karteikarten anzeigen
Q:

Summary of the physical components of the property

A:

• Location analysis, including accessibility and visibility
• Number, type, size of guest rooms
• Number, type and size of F&B outlets and meeting/banquet rooms
• Other Operating Departments (e.g., spa and fitness/gym facilities, parking, co-working)
• Other amenities (room service, others)
• Special differentiators (e.g., direct connection to a shopping mall, office park or airport
terminal)
Tip: Usually a one-page table or chart – use visuals!
NB: Many stakeholders may not be familiar with the asset!

Q:

Key dates, ownership structure, business models / contractual relationships

A:

In order to make timely and well-informed decisions, stakeholders must be clear about:
• The ownership/shareholder structure and strategy
• The business models and contracts that influence both owning and operating the asset (e.g., leases,
management or franchise agreements)
• Important dates or deadlines that must be respected
Tip: The ownership structure and business model relationships are best shown in a chart!
NB: Many stakeholders may not be familiar with the asset!

Q:

Market Overview (macro / micro economy, and competition)

A:

Markets are rarely static – they are constantly changing, often in cycles. Hotel stakeholders need to be
aware of anything that might significantly influence the performance of the asset.
• Economic indicators and trends
• Government legislation / political changes
• Real estate conditions and developments (office, retail, industrial, residential)
• Sources and profile of hotel demand
• Existing and future competition (for the hotel, including its facilities (F&B), fitness, etc. and other types
of accommodation)
NB: Many stakeholders may not be familiar with the market! The overview should briefly summarize
anything the might impact the future performance of the hotel!

Q:

Branding strategy

This section should answer the question: Should we keep the existing brand, rebrand or go independent?

A:

This section should answer the question: Should we keep the existing brand, rebrand or go independent?
• Analysis of the current brand performance and contract
• Identification of other branding options
– Pros and Cons of each
– SWOT analyses
– Competitive set analysis
– Value created by such change
NB: In case of a rebranding, usually one or two options are presented to the investors; a full valuation per brand
is requested, including a PIP.

Q:

Performance review (challenges and opportunities)

A:

The performance of the hotel is the primary driver of its value. In order to be able to increase the value of the asset in the
future in accordance with the owners objectives, one must understand the elements that determined the hotel’s current and
past performance and enable an informed assessment of the budget.
• Summary P&L table
• Analysis of Revenues: historical, current and projected; and how they compare to valid benchmarks – if below, why?
• Analysis of Costs: historical, current and projected; and how they compare to valid benchmarks; if above, why?
• Analysis of Operating Profits: historical, current and projected; and how they compare to valid benchmarks – if below, why? Is it
due to an underperformance of revenue centers or poor cost management? Calculate the possible upside!
• Analysis of Net Profit: Are non-operating revenue centers optimized? Are fixed costs minimized?
• Conclude with recommendations to improve the profitability of the asset with and without major Capex.
NB: For these analyses, all operating data (P&Ls, PACE, guest comments, personal visits, etc.) plus external information and
data provider information (STR, HOTSTATS,.. ) must be used. Past, present and projected performance must be reviewed in
detail using all of the relevant KPIs. Focus on major variances

Q:

Other review (challenges and opportunities)

A:

• Accounts receivable
• Cash flow table and returns , cash flow projections ( forecast)
NB: For these analyses, all operating data (P&Ls, guest comments, personal visits, etc.) plus external information must be
used. Past, present and projected performance must be reviewed in detail using all of the relevant KPIs. Focus on major
variances

Q:

HAM Definition 2

A:

• In general terms, hotel asset management is the service of
assisting hotel owners in realizing their investment goals.
Asset managers act as an owner’s agent or representative to
ensure that a hotel is acquired for a reasonable price; is then
operated properly during the period of ownership; and
ultimately is disposed of at an appropriate time and price.

Hotel Asset Management

Erstelle und finde Lernmaterialien auf StudySmarter.

Greife kostenlos auf tausende geteilte Karteikarten, Zusammenfassungen, Altklausuren und mehr zu.

Jetzt loslegen

Das sind die beliebtesten Hotel Asset Management Kurse im gesamten StudySmarter Universum

management

Nigerian Turkish Nile University

Zum Kurs

Die all-in-one Lernapp für Studierende

Greife auf Millionen geteilter Lernmaterialien der StudySmarter Community zu
Kostenlos anmelden Hotel Asset Management
Erstelle Karteikarten und Zusammenfassungen mit den StudySmarter Tools
Kostenlos loslegen Hotel Asset Management