Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets cost-effectively. Hotel asset manager manages the hotel from the perspective of an asset (i.e. a resource that generates income or another return). It is all about maximizing the returns earned by this type of property. In essence, this is a specialized type of real estate investment management.
Asset management is also familiar as property management system(PMS) too.Hoteliers who don’t use asset management suffer a lot to manage their properties.It plays an important role in hotel or vacation rental business. Rooms are inventories or asset for hoteliers. PMS manages all these inventories properly. It makes sure it is working 100% correctly.
Asset Management services include:
- Budget and financial performance review
- Benchmarking against relevant competitive sets
- Capital expenditure review
- Title and form of ownership
- Capital and corporate structure
- Building survey
- Brand review
- Real estate market conditions, trends and cycle, and impact on the business
- Identify appropriate timing for divestment, refinancing and refurbishment