The key ownership issue in today’s lodging industry is how your brand manager (Marriott, Hyatt, Starwood, etc.) responds to ownership needs while maintaining brand standards. In many situations, ownership needs the cooperation of the brand manager in order to work through market cycles, but lacks the appropriate staff to handle these issues with the brand. In such situations, Quorum can “manage your manager.” Over the years, investors and owners have utilized Quorum’s extensive industry experience to serve as their representative in dealing with their chain managed hotels. These asset management services include:

• Oversee the chain operator’s compliance with all contractual agreements including financial planning and reporting, staffing, expense reimbursement, fee payments and central services.
• Negotiate with the operator on all items requiring ownership consent and approval, including annual budgets and brand standards.
• Advise and make recommendations to the owner on annual operating and capital budgets presented by the operator.
• Attend monthly operator meetings to review current financial results, evaluate condition of the assets and overall progress in meeting all financial, marketing and operational goals.
• Review and evaluate all contracts, licenses, leases and capital requests made by the operator.

In short, Quorum will “manage the manager” on the owner’s behalf and report its findings, concerns and recommendations on a regular basis.