Hospitality Asset Management (Book with DVD)

Any service of the hotel that helps generate revenue can be an asset. For some hotels, it can be the rooms and for others it might be the restaurant or the spa. Asset manager is someone who manages these assets, while ensuring pro tability for the business. It is all about maximizing the returns earned by this type of property. Asset management is a systematic process of deploying, operating, maintaining, upgrading, and disposing of assets cost-e ectively. Asset management has become an important consideration for owners of hotels due to the unique combination of an operating business within a real estate investment found in hotel investments. Having assessed and worked with a wide variety of hotels, asset managers are adept at identifying where operating teams fall along the spectrum and o ering immediate recommendations for improvement. Such recommendations may include realigning the organizational structure, making an investment in systems and training, identifying the need for additional talent and resources, and possibly revising goals and incentives in support of optimizing revenue management e orts. Although asset managers can be equally e ective in identifying opportunities with both basic and highly sophisticated revenue management teams, being able to quickly assess the situation and outline a clear path is the  rst critical step.