looks at a management company ’ s geographic expertise , its experience with the hotel brand involved and its penetration index in the market under consideration .
It also doesn ’ t hurt that NewcrestImage has a minority stake in Aimbridge Hospitality , the world ’ s largest third-party operator , although NewcrestImage does work with several other management companies to run its portfolio depending on the property .
“ We believe that the right combination of these factors can lead to the best growth for a property ,” said Mehul Patel , managing partner and CEO of NewcrestImage .
Though finding a management company for a hard brand might seem like a “ plug-and-play ” solution thanks to the detailed and rigid SOPs that often are associated , finding a management company for an independent or boutique hotel may require a deeper search .
“ Many management companies can manage hard brands , especially select service ,” said Michael Cady , chief marketing officer of Charlestowne Hotels , a management company based in South Carolina . “ But very few know how to operate full-service , independent hotels .”
Charlestowne Hotels has kept its focus on independent and soft-brand hotels , because operating these types of properties is a niche skill that they ’ ve honed for several years . It ’ s an area where Charlestowne is hitting its stride .
“ The Marriotts and Hiltons of the world are really starting to get dialed in on how soft brands differ from their traditional historical brands ,” Cady said . “ And they ' re wanting independent-minded hotel management companies to help drive that soft-brand uniqueness and creativity whether that be with food and beverage options , uniform decisions , employee training , design or marketing .”
THE EXTRA MILE Phil Hospod , the founder and CEO of Dovetail + Co , a small but growing collection of boutique hotels , prioritizes experience and financial benchmarks when seeking out management companies , but
S The entrance of the 164-room Sinclair Hotel in Fort Worth , Texas , owned by NewcrestImage . E Mehul Patel , NewcrestImage ' s managing partner and CEO
also a willingness to build on a hotel ’ s personality and identity within its location .
“ At Dovetail , we like to come up with the entire sort of vision and dream ,” Hospod said . “ But then we realize and recognize — and appreciate — the importance of turning that dream into reality and having the right operating partner who can take it all the way and , ideally , beyond what was initially concepted .”
Dovetail selected Springboard Hospitality for its Wayfinder Hotel in Waikiki , largely for Springboard ’ s previous work in Hawaii ( formerly as a part of Outrigger Hotels ) and with independent hotels . “ It ’ s a local business ,” Hospod said of the hotel , “ and there ' s something kind of valuable to be said about regional knowledge and presence .” Case in point , Springboard has an office across the canal in Waikiki from The Wayfinder .
Phil Hospod is the founder and CEO of Dovetail + Co , a small boutique hotel firm with properties including Wayfinder Newport and Wayfinder Waikiki .
WE REALIZE , RECOGNIZE AND APPRECIATE THE IMPORTANCE OF TURNING [ OUR ] DREAM INTO REALITY AND HAVING THE RIGHT OPERATING PARTNER WHO CAN TAKE IT ALL THE WAY AND , IDEALLY , BEYOND WHAT WAS INITIALLY CONCEPTED
- PHIL HOSPOD
May 2023 hotelsmag . com 13