Spirit hospitality. Is one of the most successful companies bringing together a fully integrated team of professionals with a broad set of experience that provides excellence and maximizing value. We are trustworthy, qualified, and respected company enabling us to provide asset manager service to your hotel owners. We assist owners to ensure their investment achieved optimal performance and investment returns through implementation strategy initiatives.
Having managed the ongoing capital improvement plan for a portfolio of more than. 10 hotels with major franchise affiliation. Spirit hospitality, is well equipped to assist with any phase of your property improvement plan ( PIP)- from planning to procurement and installation. We take the approach of any. Experienced. Owner slash operator. Focused on the budget. Quality and minimizing the disruption of the business.
Whether planning a typical brand required update. And anticipated PIP or completion of a conversion. Our team has the experience and resources to assist you.
Spirit Hospitality accounting services for the hotels resulting in lower administrative payroll cost to the hotel in more accurate. Information and timely financial information. Our accounting office closely monitors daily accounting reports. Prepares monthly bank reconciliation, File sales. And use tax returns, process accounts payable and manages hotel cash.
Reports Both monthly and quarterly reports are prepared for ownership. These reports include an analysis of present, past and projected performance. The monthly financial statements include balance sheets, cash flow statements and income statements.
Our accounting structure is integral to effective cost control and to increasing your bottom-line. Our in-house team of accountants provides annual business plans, cash flow projections and operating forecasts, and ongoing financial reports to measure performance. We oversee all cash management, financial statements and supporting documents including general ledger accounting and accounts payable. In addition, we file all tax reports.
Our commitment to technology and our Intranet site means efficient communication between our accounting and the property. This combination of planning, data creation and analysis enable owners to make timely and well-informed investment decisions.
A quarterly report is prepared to show and explain deviations in the income statement from the budget, personnel changes, market conditions, sales updates and capital improvement expenditures.
The Strategies business plan created by Spirit Hospitality for each hotel is the properties blueprint for success. This carefully thought-out plan includes a realistic operating budget. A capital improvement budget. And a sales and marketing plan. All budgets and plans are consistent with the current franchise and local market requirements; They must be approved by ownership before implementation.
Spirit Hospitality sets and carefully monitors meaningful cost controls. Rates are structured, checked daily through our guest tracking report, and changed as market conditions warrant. Rate maximization via yield management is an integral part of the operations strategy. Payroll is analyzed daily, energy costs controlled, preventive maintenance programs are established, and an extensive Policy and Procedures Manual is utilized by property management.
The key to our property’s success is our management team and our outstanding General Managers. Spirit Hospitality has taken pride in being able to find and keep the most competent managers for a given hotel property. The knowledge and experience of our managers, coupled with a shared vision and well-executed business plan has consistently produced above market results. This has also contributed to the longevity of our associates, both at the corporate office and at our properties.
Renovations and Purchasing
The company has developed close relationships with many suppliers and manufacturers. Due to economies of scale, purchasing power is realized. While saving ownership unnecessary expenditures, quality renovations are achieved.
Spirit Hospitality Development is responsible for sourcing development opportunities, site selection, feasibility planning, positioning strategies, design and construction. To date, we have developed over $75 million in new construction and $$$$$ million in future development pipeline.
The investment team originates, underwrites, and executes real estate investments across all major hotel brands
Cutting edge hotel revenue management services are at the core of Spirit topline strategy. Analyzing STR market data, monitoring the competitive landscape, partnering with digital & ecommerce channels, and thoughtful pricing are some of the tactics we employ to increase Revpar index and drive profitable bookings.
REVENUE MANAGER ACTIVITIES
Hotel sales and marketing services are taken to the next level at Spirit Hospitality. Our regional leaders oversee training & development of on-property sellers. Experience is shared. New ideas are cultivated. Emerging channels are tested. Nothing is off the table when considering new business opportunities for our hotel.
Well-trained, highly motivated associates are what make an organization great. Spirit Hospitality Human Resources Department makes sure that we have a winning team.
For new and seasoned associates alike, the training never stops. Our programs are modeled to create loyalty and minimize turnover. Initiatives include everything from management training, team building projects, and lessons in how to foster better communication.