Financial Management

Comparison Checklist

SUCCESS CRITERIA

CHARACTERISTICS

ORGANIZATIONAL STABILITY

Proven track record (25 years industry experience)
Hospitality Management
Business Development/Marketing
Hotel/Motel Sales, Investment,
Syndication

EXPERTISE

Distressed Property Turnaround
Food and Beverage
Expert Witness/Consulting

SHW STAFF

Management Department
Marketing Department
Maintenance Department
Accounting Department
Brokerage/Investment Department

ETHICAL STANDARDS

Proven investor fiduciary relationships

ORGANIZATIONAL STRUCTURE

Medium-sized firm, pro-active approach, domestic/international experience

CENTRALIZED PURCHASING

Cost control, quantity discounts commercial discounts

PROPERTY ANALYSIS

Provide owner with strategic marketing and operational plan

INSURANCE

Errors and Omissions
General Liability
Fidelity Bond
Workers Compensation

FINANCIAL REPORTING

Computerized financial reporting using the industry standard Uniform System of Accounts for Hotels

Individual operating and trust accounts will be established in the name of the property
Maintain financial books and records on behalf of property. Computerized financial and reconciled bank statements issued on monthly basis.
Preparation and adjustments of property's annual budget.
Accounts payable service will be provided, including payment of all property bills, taxes, insurance etc.
Assist and coordinate with an independent accounting firm for monthly and annual audits.
Prepare monthly owner reports to include:

Average Daily Rate
Occupancy Report
Preparation and Food and Beverage deposit report (when applicable) of property's annual budget.
Weekly Activity Report
Quarterly Market Study
Budget Review and Forecast
Budget Analysis