The past few years have brought many interesting changes
to the dynamic hotel industry in Canada. In 1999, in certain
parts of the country, concerns were being raised about the
amount of new supply that had recently entered the market
and the impact that it may have on local market conditions.
In other regions, potential developers were looking at the
opportunity to develop the first new hotel rooms in many
years, while current owners were enjoying the best operating
results in the history of their properties. Now, in all regions
of the country, owners and operators of existing properties
are faced with numerous questions concerning upcoming changes
in the local market and the potential impact on their hotel(s).
The questions being asked are similar.
- Our hotel is doing very well, but could it be doing better?
- Are we getting the performance and value from our assets
that we should?
- Is our property vulnerable to the impact of new supply?
- Is our asset as competitive as it could be or should
be?
- Are there amenities, facilities and services that we
should be considering to enhance the competitive position
of our asset?
- Is there potential to add value to our property and
if so, how do we accomplish this?
- Should we hold and operate this asset or should we sell?
At PKF, we have been helping our clients answer these same
questions for many years. We offer independent, third party,
objective analysis and advice based upon our many years of
consulting experience and industry work experience. Our services
are not in conflict with operations management, but are generally
found to be complementary to the experience and opinions
of those responsible for day-to-day operations. PKF brings
the experience of an international firm with the perspective
of many different hotel companies and styles of operation
as opposed to that of just one property or company.
Historically, many people have thought of PKF as providing
development assistance for new projects in the form of market
feasibility studies.
However, the provision of Asset Advisory Services to hotel
owners, operators and lenders of existing properties has,
and continues to be, a primary focus of our practice. Within
the past 36 months, we have provided advisory services on
$4.0 billion worth of existing Canadian hotel assets to a
wide range of owners, lenders and purchasers. We have considerable
hands on experience in the application of our services for
our clients.
An example of our services include:
Asset Evaluations
- Market and Market Position Analysis
- Operations Review
- Facility/ Capital Planning
- Valuations/Appraisals
Asset Strategies
- Renovations and Expansion
- Branding and Management
- Operations and Finance
Implementation Strategies
- Management Contract, Franchise and Lease Negotiations
- Acquisition and Disposition Due Diligence and Advice
- Asset Management and Owners Representation
If you would be interested in discussing our services in
relation to the market position, performance or value enhancement
of your assets, please contact any one of our Canadian Directors
at your convenience.
