We view Asset Management as the responsibility to maximize the value of the assets through keeping management focused on revenue enhancement, expense control and physical maintenance. We hold management accountable for increasing profitability and ultimately asset value.
Horwath acts as the "eyes and ears" of the Owner and represents their interests with management. We closely monitor the Owner's investment in real estate, be it a hotel, resort, conference centre, golf course or other hospitality property.
Horwath understands that the investment goals and objectives of every Owner are different and approaches each Asset Management engagement with a view towards increasing the asset's value through a customized Asset Management Plan that focuses on maximizing efficiency and returns.
Horwath's Asset Management Plan typically includes the following components:
- Establish goals and objectives with the Owner
- Address strategies and timeframes for acquisition, disposition, holding
- Set operating performance expectations
- Review and approve management's:
- budget allocation of resources
- service standards
- competitive market positioning
- pricing strategies
- preventive maintenance plan
- deployment of capital
- Set monthly reporting standards
Horwath meets with management on a monthly or quarterly basis to review overall performance, sales and marketing initiatives, qualitative performance, human resource issues, operational concerns, physical maintenance and capital programs.
We maintain a regular dialogue with the Owner to discuss critical issues and investment strategy. Horwath also assists Owners and/or Financial Institution in the turnaround of under-performing properties.
