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Large-scale mixed use development project consisting of a stand-alone 215,000-square foot convention center, twin hotel towers containing 1,000 keys, a separate 60-key country club hotel with 11,000 square feet of meeting space, 18-hole golf course, 30,000-square foot spa, six food & beverage outlets, 52,000-square foot retail component and a 2,600-stall parking garage. The hotel was owned by the Plumbing & Pipe fitter’s Pension Fund. However, day-to-day oversight was being provided by the U.S. Department of Labor through an Independent Named Fiduciary. At the time of its opening, the hotel’s business plan and sales & marketing plan detailed pro forma group rooms sold to be approximately 60% to 65% of total room sold.
Duties Included:Asset Management: Primary advisor to the Independent Named Fiduciary on all matters relating to the lodging operating business, as well as on numerous development-related matters. Provided certain advisory services relative to securing debt and equity financing. Directed the managing agent selection process; provided input on criteria, qualifications and potential candidates. Advised operations executive committee in ongoing operations, personnel and ownership issues. Provided input as to management contract issues. Assisted in valuation of various equity issues relative to management contract rights. Managed RFP process and negotiations with prospective hotel management companies. Operations/Management: Developed objectives for competitive market analyses, sales goal generation, sales organization structure, sales and marketing activity. Assessed marketability as to estimated market supply and demand as well as intended segmentation. Evaluated hotel brand alternatives and operations management companies. Managed focus group activity in major markets to define group market positioning. Reviewed proposed and in-place systems to include management information systems, labor management systems, sales and marketing systems, maintenance systems and risk management programs. Development/Management: Prioritized hotel-related development challenges relative to project schedule and critical path. Identified value-engineering opportunities of greatest economic impact. Reviewed spatial planning, design development specifications and hospitality-related design documents. Evaluated and revised product and services contracts for design development, design element and furniture and equipment procurement. Made recommendations for project modifications including revisions to back-of-the-house storage, circulation and employee facilities, guest floor layout to include service areas, guest service areas including check-in, lobby, front desk, food outlets, kitchen areas, laundry facilities and exterior recreational areas. |