Asset Management

 Development Asset Management

 During the development phase, Avingstone typically carries out the following activities:

• Market assessments

• Site configuration and hotel space program analysis

• Financial forecasts and feasibility studies

• Assessment of the highest and best value use of the site, including the form of ownership (freehold, leasehold, or concessions) and nature of relations with operators (self-managed, management contract, joint-venture, franchise)

Interior Design Coordination

Avingstone and its’ team of professionals have a breadth of experience with interior design services. We are regularly called upon to assist in the following: 

• Identifying and recommending interior designers and architects for luxury hotel and residential projects

• Working closely with the selected team of interior designers and architects and attending all design and planning meetings to assist in creating successful interior design concepts for our clients’ projects

• Evaluating the quality and functionality of hotel space planning, including guestrooms and public spaces

• Conducting in-depth evaluations and testing of model rooms

• Assisting in the procurement and purchasing of all required FF&E

Operator Selection / Conflict Negotiation

Avingstone has extensive experience in preparing, drafting, reviewing, and negotiating hotel management agreements from the perspective of both the owner and the operator. It delivers this unique experience to assist in the hotel operator brand selection and the subsequent contract negotiations with the selected hotel operator. We typically assist with:

• Preparation of a strategic analysis of likely and appropriate hotel operator brands

• Managing “request for proposal” process to solicit expressions of interest from hotel operators

• During the “request for proposal” process, Avingstone also provides an assessment of proposals received and a recommendation for the preferred operator

• Advice and assistance in the negotiation of terms of the hotel management agreement with the preferred operator

Food & Beverage

Based on its extensive experience, Avingstone typically assists with:

• Assessment of F&B concept and structure (license, management contract, lease)

• Preparation of strategic analysis of appropriate F&B partners

• Managing “request for proposal” process to solicit expressions of interest from F&B partners

• Assessment of proposals received and a recommendation for the preferred partner

• Advice and assistance in the negotiation of terms for the F&B agreements

Pre-Opening Asset Management

Avingstone leverages its extensive experience in the area of luxury hotel development to assist owners with the following:

• Review of architectural and construction plans to ensure that modern international luxury standards and the specific hotel operator’s “brand standards” are being adhered to in the most cost-efficient manner for the owner

• Negotiation of the applicable hotel operator’s purchasing and procurement policies minimizing cost and timing disruptions

• Review and critical assessment of the hotel operator’s pre-opening budget and initial annual plan to ensure timely opening of the hotel and optimal performance for the owner

Residential Asset Management

As part of its residential asset management services, Avingstone:

• Assists the manager in the preparation of staffing plans and residential management budgets

• Suggests additional 'a la carte' services to be offered by the hotel to residential owners

• Post-sale, assists owners in liaising with the homeowners association that represents the residential owners

• Recommends ongoing staffing, maintenance and cost-saving initiatives for the management of residences

• Advises on any 'Hotel Rental Program' agreements that may be negotiated with residential owners

Post-Opening Asset Management

Avingstone rigorously monitors the operations and the ongoing performance of the operator on behalf of the owner and has extensive experience with:

• Review and critique of annual budgets and five-year plans

• Operational audits to ensure operator complies with the owner approved annual plan

• Monitoring of hotel management agreement compliance

• Acquisition / disposal due diligence and negotiation assistance

• Assessment of hotel repositioning programs

• Leadership roles in regular reviews of operator’s policies, specifically those which affect the Hotel

• Best in class reporting following monthly reviews and meetings with the operator

IT Infrastructure and Security

• As part of the Avington Group, Avingstone has the same institutional quality information technology, infrastructure, security systems, policies and procedures as its’ regulated affiliate, Avington Financial

• Avingstone has a thorough understanding of regulatory and hospitality industry standards, needs and capabilities with considerable experience in designing and implementing information technology systems at both the branded operator level as well as the luxury property level