OPERATOR SEARCH & SELECTIONBevelia Hospitality assists hotel owners and developers in the selection of a management company and the negotiation of commercial terms
The choice of hotel operator and the terms of operating agreement are fundamental prerequisites to the success of any hotel investment. Conversely, the wrong choice or poorly designed management contracts can be a major contributor to the underperformance of a hotel investment. Depending on our client’s requirement, Bevelia Hospitality can provide the full complement of operator selection and contract negotiation services, or complement your in-house team with specific activities and/or advice.
As an extension of our feasibility services, Bevelia Hospitality assists hotel owners and developers in the selection of a management company and the negotiation of commercial terms.
The key to the process is finding a solution that maximizes the profitability of the property to the owner, whilst preserving the liquidity of the investment. Bevelia Hospitality can help estimate the strengths and weaknesses of each contractual option proposed by the Operator with the intent of finding the solution that maximises our client’s interest in view of the hotel’s specificity and the context of the market in which it is located. The operator search and selection process proposed by Bevelia comprises:
- Inspection of the existing hotel or project site;
- Extraction of relevant market data;
- Preparation of an investment memorandum;
- Memorandum Sent to various operators;
- Reception of Bids from Interested Operators;
- Presentation Coordination of Operators to Client;
- Short Listing of Operator;
- Mutual Signing of Letter of Intent (LOI);
- Negotiation of Commercial and Legal Terms of Management Contract/Franchise/Lease;
- Signing of Management Contract/Franchise/Lease.