Asset management begins during the search for prospective properties and extends throughout the restoration and transition phases. The asset manager identifies the property, oversees the entities responsible for hotel upgrades, and supplies investors with regular progress updates. Close monitoring of an asset assures that partners are accountable and resource integrity is maintained.
At RevMax, we seek out assets that will benefit from our unique and highly specific skill set. These investment opportunities offer the greatest return for investors because they have the highest potential for success within their market. We look for opportunistic acquisition of:
- Underperforming hotels
- Hotels with poor branding
- Poorly managed assets
- Properties with shortfalls in capital
By improving and managing the property throughout restoration and the subsequent growth period, stakeholders get the most from their investment.
The Asset Manager Maintains Accountability and Protects Your Investment
Cost overruns, management problems, and loss of resources can undermine any investment. One of the RevMax asset manager’s key roles is to monitor the asset daily and correct issues before they become serious problems. To accomplish this, they must keep every partner accountable and ensure they deliver on their promises.
At the heart of successful asset management lies effective communication. Investors need assurance that objectives are being met and the project budget is being maintained.
Investors that put their trust in RevMax benefit from a hands-on asset manager who they know will oversee the asset until the investment completely matures. When you invest with RevMax, the lines of communication are always open.
Our Asset Management Timetable
After closing, we typically manage a property for 12 to 13 years, maximizing the return for investors. This includes two to three years for restorations and ten years of property management. Our typical timetable is as follows:
- Identify suitable property
- Develop a plan for the asset
- Determine costs of restoration
- Negotiate with brand
- Quickly secure funding
- Close on property
- Fine tune plan and develop drawings
- Submit requests for bid
- Closely monitor renovation phase (1 to 3 years)
- Manage property for 10 years