CHM announced that it has been retained to provide asset management services for the 104-room Hampton Inn & Suites Ft. Lauderdale-Airport, the 127-room Hampton Inn Miami-Airport West and the 122-room Hilton Garden Inn Orlando East/UCF Area.
BEVERLY, MASS. – Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm, announced that it has been retained to provide asset management services for three, focused-service hotels located in Florida: the 104-room Hampton Inn & Suites Ft. Lauderdale-Airport, the 127-room Hampton Inn Miami-Airport West and the 122-room Hilton Garden Inn Orlando East/UCF Area. The first two hotels are owned by The Lightstone Group, and the latter is owned by AVP Advisors, Inc.
“While CHM historically has been known for its expertise in the full-service segment, we also have an extensive background in focused-service hotels, ranging from sourcing transactions to developing the most effective strategies for enhancing value. Much of the upside we are able to uncover in today’s market comes from revenue management, operator selection, managing brand expenses and ensuring PIPs (capital improvements) yield a return,” noted Chad Crandell, president of CHM. “For these particular hotels, CHM participated in the due diligence and underwriting efforts on behalf of both ownership groups. We reviewed the assets, assessed the markets, established optimal strategies and now are overseeing operations to help ensure investment returns are met. CHM’s current asset management portfolio is comprised of approximately 30 individual hotels, of which seven fall into the focused-service asset category. We expect this number to double over the next 12 to 18 months as investors continue to flock to this product and seek expertise to maximize profit potential and investment returns.”
Conveniently located at Fort Lauderdale/Hollywood International Airport (FLL), the Hampton Inn & Suites Ft. Lauderdale-Airport has been awarded a TripAdvisor Certificate of Excellence Award for the past two years. Hotel amenities include a full-service business center, meeting room, fitness room, outdoor pool and complimentary breakfast bar.
Minutes from Miami International Airport and the Dolphin Mall, a large and exciting shopping and entertainment outlet in Miami, the Hampton Inn Miami-Airport West is situated near downtown Miami and the beach. In addition to complimentary shuttle service to and from Miami International airport, the hotel also provides 896 square feet of meeting/events space for up to 50 guests, a fitness center and free, daily breakfast.
“CHM was instrumental in the due diligence and closing of these two hotels, working closely with both us and our management team while transitioning the properties,” said Marc Dober, vice president, asset management, hospitality of The Lightstone Group. “The company has been an invaluable liaison between The Lightstone Group and the brands, making the process that much more manageable for all parties involved.”
Just 1.5 miles from the University of Central Florida, the Hilton Garden Inn Orlando East/UCF Area is minutes from leading corporations and institutions including PEO STRI, NAVAIR, AON, Lockheed Martin, Siemens and Florida Tech. The hotel offers a 24-hour business center, fitness center and swimming pool. For delicious cuisine, the Great American Grill® restaurant is open for breakfast and dinner, and for meetings, the hotel provides 1,200 square feet of function space.
“Working with CHM allows us to focus more intently on the day-to-day operations of these hotels while they target the ‘bigger picture’ concerns of Lighthouse, the owners,” said Michael George, founder, president and CEO of Crescent Hotel & Resorts. “The needs of a hotel are many, and they quickly exceed simply caring for a guest’s needs. This type of tag-team operations ensures that the needs of all shareholders, from ownership to customers, are met.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
