Financial Management

COMPARISON CHECKLIST

SUCCESS CRITERIA CHARACTERISTICS S.H.W.
ORGANIZATIONAL STABILITY Proven track record (25 years industry experience)
Hospitality Management
Business Development/Marketing
Hotel/Motel Sales, Investment,
Syndication		 •
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EXPERTISE Distressed Property Turnaround
Food and Beverage
Expert Witness/Consulting		 •
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H.A.S. STAFF Management Department
Marketing Department
Maintenance Department
Accounting Department
Brokerage/Investment Department		 •
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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		 •
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FINANCIAL REPORTING Computerized financial reporting using the industry standard Uniform System of Accounts for Hotels •

FINANCIAL MANAGEMENT SERVICES

  • 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
    • Food and Beverage deposit report (when applicable)
    • Weekly Activity Report
    • Quarterly Market Study
    • Budget Review and Forecast
    • Budget Analysis