Pre-Opening Asset Management
- Pre-opening services commenced in 1Q07 and ongoing asset management commenced at opening in 4Q09.
- Based on supply and demand market research, prepared initial facility recommendation, including number of guest keys, amount of meeting space, and type of restaurant.
- Provided “operator input” on design and facility programming prior to Morgan’s involvement.
- Prepared initial underwriting for owner and reviewed operator’s underwriting.
- Pre-opening and IT budget review resulted in $1.0M and $1.5 M of savings, respectively.
- Interacted with 7 different teams inside of Morgan’s to manage pre-opening operations critical path, including operations, F&B, PR, sales and marketing, development, revenue management, and
- Requested that sales and marketing team commence sales calls one year prior to opening. As a result, the hotel was accepted into corporate RFPs for stub 2009 as well as all necessary Consortia.
Learn more about hotelAVE's Pre-Opening Asset Management services.