Harte Hotels acts as a developer/owner, operator and asset manager of hotels throughout the UK, Europe and the USA.
Harte Hotels portfolio range from large 4 star business hotels to small boutique hotels. Additional business developments, primarily in the form of high-profile JVs, allow us to strategically grow and diversify within this highly competitive sector.
Our primary areas of expertise are:
- Development / Opening
- Franchise Relations
- Operator Appointment
- Renovations
- Asset Management
Asset management is where Harte Hotels excel and our asset management team takes a fresh approach to maximising hotel asset values and optimising hotel investment returns. This involves a very ‘hands on' approach to managing the hotel investments to meet the specific investment objectives.
Our approach is based on three core principles - to define the investment objectives; to pursue a strategy that aligns the operator's objectives with those of the owner / investor; and to ensure execution of the strategy through regular monitoring, analysis and review of procedures, practices and performance.
Our areas of expertise include the following:
Financial and Operational Performance
- Review of actual performance versus budget and prior year
- Benchmark versus comparable properties
- Review of rolling forecasts and business on-the-books
- Monitor effectiveness of revenue capture and cost control
- Monitor all charges from the management company
- Monitor sales and marketing activity
- Monitor channel delivery and cost per booking by channel
- Monitor balance sheet and working capital requirements
Competitive Environment Monitoring
- Monitor market rate, occupancy and RevPAR trends
- Monitor key demand generators by market
- Monitor planned supply additions
- Monitor refurbishment and expansion activity at competitor properties
Asset Monitoring
- Monitor physical condition and anticipated capital expenditure requirements
- Ensure legal compliance with all relevant legislation
- Retain consultants and advisers on property matters as required to ensure investor interests are fully safeguarded
- Project manage all refurbishment and expansion activity
Oversight of Budget Processes
- Communicate ownership expectations to management company and unit management
- Review proposed budgets, marketing plans and capital expenditure plans for appropriateness in the context of market conditions and investor's requirements
- Review and approve process.
Harte Hotels is focused exclusively on our areas of expertise, where we know we can add significant value. These areas of expertise are as a result of Harte experience as a hotel developer, hotel investor and hotel operator.
