Crestpoint Management delivers customized services for a single hotel or a portfolio of properties. We believe guest satisfaction is key to building long-term customer loyalty, which in turn leads to financial success. Using creative strategies we maximize potential and produce profitable results.
Using profitability as the foundation, we establish a “Plan for Success” in every department. Our experienced team empowers employees to take ownership in their work, providing them the tools necessary to consistently achieve goals.
A yield management program is developed for each property. We use statistical data to comprise comprehensive room rate pricing strategies to maximize RevPAR and ADR. Upsell strategies increase revenues when available.
Financial systems, including revenue tracking and cost controls are installed to ensure accurate and timely reporting of operating results. Cash flow forecasts and budgets are prepared according to industry standards. Ownership reports show and explain both up- and down-side variances from plan; strategies for profit growth according to current market conditions are proposed.
Development and implementation of a comprehensive, measurable marketing plans ensure that your properties are correctly positioned. A proactive sales approach using traditional and creative methods delivers premium market share.
Staff recruiting, training, and most importantly, retention is handled by the onsite General Manger with oversight from our corporate office. Hotel associates are treated as family, with the focus being on their professional development in the hospitality industry.
For properties needing repositioning, we develop a plan with ownership to complete projects on schedule, within budget, and with minimal impact on guest service. We handle and negotiate all franchise requirements.
For properties with an F&B operation, our experienced managers develop dining concepts appropriate for the hotel. Close adherence to cost controls is emphasized. Operating procedures and service quality are continually evaluated and improved.
As a lender determines that a hotel is not being managed in a profitable manner, they may seek to wrest control from the borrower/owner and seek a court-appointed 3rd party, or “receiver” to avoid tedious and expensive bankruptcy proceedings and liquidation. Crestpoint is uniquely positioned to accept hotel receivership appointments and optimize underperforming assets. We secure and stabilize the hotel by effectuating necessary operational changes to stabilize the property.
What We Do
- Take possession of the hotel and all related bank accounts, keys, codes, and records.
- Install an experienced General Manager familiar with the hotel receivership process.
- Review staffing and make appropriate personnel changes.
- Implement new operational, financial, and accounting protocols.
- Assess the property for life/safety issues, maintenance, renovation, or capital improvement requirements.
- Review franchise agreements, insurance policies, vendor contracts, and leases for continuation, renegotiation, or termination.
- Draft and submit all necessary court, lender, and stakeholder reports.
- Make recommendations for and assist with the resale or disposition of the property.