SPECIAL REPORT
CHOOSE WISELY :
How hotel owners find the right outfit to run their asset
THERE ARE MYRIAD MANAGEMENT COMPANIES OUT THERE . CHOOSING THE RIGHT ONE CAN MEAN THE DIFFERENCE BETWEEN SUCCESS , FAILURE AND , FOREMOST , PROFITABILITY .
Contributed by JULIANA SHALLCROSS
Hotel owners can be a fastidious lot — especially when choosing a management company to run their assets . Critical requirements must be met , but in a crowded hospitality field , saturated with brand managers and a plethora of third-party management companies , finding “ the one ” isn ’ t exactly an easy task .
For owners of hard brand hotels , the decision is mostly based on a management company ’ s previous experience and performance , particularly with specific brands .
NewcrestImage , a privately held family office investment firm based in Dallas with more than 3,300 hotel rooms in its portfolio ,
12 hotelsmag . com May 2023