The landscape has changed dramatically for the hotel brokerage business since the top of the last cycle. At that time, the big problem for brokers was finding product, as the market was moving so fast. Almost any property, priced anywhere near reason, would get multiple offers and backup offers. And buyers knew that if they waivered, there were others to take their place.
Now, the game has changed. While there are still plenty of buyers, they are proceeding with a high degree of caution. For sellers, it is important to be represented by a professional hotel brokerage company with the skills, experience and the latest technological tools, to properly present the property, locate the right buyer, and help navigate through the obstacles that may occur along the way to closing. For buyers, it is important to work with a brokerage company that knows its markets and has access to properties that meet their specific criteria.
Opinion of Value - Let us confidentially review your property and give you a quick opinion of market value. Our conclusion is based on a number of different factors, including historical and present income trends, available financing, local market, physical condition, franchise requirements, etc. We will recommend a price range and an appropriate marketing strategy based on your objectives. This is at no cost to you and without obligation. Any information that we receive from you will be held in the strictest of confidence and will not be disclosed to anyone without your expressed consent.
Our Marketing Approach - We become fully engaged in the process, aggressively committing ourselves and the resources of our company to getting your property sold at the best possible price. Our data base is extensive, containing local, regional and national buyers for every type of hospitality property.
Based on a seller’s goals, we can act with varying degrees of confidentiality, from targeting a small number of qualified buyers to a broad marketing approach that includes advertising and wide dissemination of information to buyers nationwide as well as the brokerage community, concluding with a Call for Offers by a certain date. Each situation is different and is tailored to our client’s goals. Let’s discuss how we can help you achieve your goals.
General Marketing Steps (Including but not limited to)
- Work with seller on pricing and marketing strategy
- Prepare dedicated password accessed website for the property with an Offering Memorandum and all Due Diligence information necessary for a Buyer to evaluate and make an offer
- Contact by phone or email those in our data base appropriate to the offering and marketing strategy, obtaining confidentiality agreement prior to releasing detailed information
- Follow up for interest level, feedback and to solicit offers
- Report to seller on a regular basis with submittal lists, prospect feedback and strategy progress report
- When a qualified buyer makes an offer, we handle counteroffers, acting as a liaison between the parties, aiding in negotiations to help arrive at final agreement
- Work with third parties such as lenders, attorneys, franchisors, title, escrow, etc.
- Help negotiate obstacles as they may arise to keep the process moving through closing
- Be available after closing
Confidential Private Sales - If an owner is motivated, then we recommend letting us aggressively market the property using all of the tools at our disposal. However, we understand that for varying reasons, some owners who would sell do not want to make the commitment of having their property exposed to the market by a hotel brokerage company. We respect that and can work within those parameters. A good portion of the transactions that we have completed were between buyers with specific criteria and owners who did not want their properties on the open market, but who would sell under certain conditions. In these cases, there is a high degree of confidentiality, and exposure is limited to a very small number of qualified prospects. Please contact us for more information.
Share Your Acquisition Criteria With Us - We can send you information on opportunities that fit your needs and can alert you by email as they arise. We are in ongoing contact with owners of all types of properties in our home markets as well as throughout the country. These may include properties not on the open market as well as bank owned and other distressed properties of which information is available only on a confidential basis.
Buyer Representation - We can locate and target specific market and properties on your behalf. This would be especially useful for buyers who want to come into our home markets, in Southern California, such as Los Angeles, Orange County and San Diego, and gaming and non- gaming properties in Las Vegas, Nevada.