Review or evaluate:

    • Annual operating budget
    • Annual capital budget
    • Annual marketing plan
    • Monthly 90-day forecasts
    • Monthly profit and loss statements and balance sheets
    • Physically inspect the properties once a quarter to evaluate the deliverance of service     
       and overall appearance of the property 
    • Repairs & Maintenance program:
        - Preventative maintenance of all mechanical equipment
        - Rooms program
        - Energy conservation program
    • Risk Management program:
        To control property’s liability insurance premium
    • Opportunities to refinance and/or restructure the debt of the property
    • The position of the property in the market place- compare occupancy, ADR and 
       RevPar with properties in the competitive set and with the overall market’s 
       destination performance
    • Ensure timely replacement of F.F. & E. as appropriate to continue to allow the property 
       to effectively compete in the market place 
    • Be the liaison between the Management Company and Property Owner (s).

    What do portfolio and asset managers do?

    • They develop strategies for optimizing portfolio and asset performance.
    • They analyze, compare, contrast, and relate the actual performance of different types 
       of assets to develop more effective strategies and plans.
    • They seek to balance competing objectives -- client needs, social and economic 
       priorities, and maintaining the value of the portfolio’s assets.
    • They target the use of income generated by assets towards capital investment and     
       reinvestment and towards initiatives, which enhance customer satisfaction and 
       operational effectiveness.
    • They enter into agreements with service providers to implement strategies and business 
       plans at the operational level.

    What don’t portfolio and asset managers do?

      • They do not execute the strategies and plans that they develop ,instead they
         acquire the expertise and support of other organizations to execute 
         those strategies and plans




 
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Asset management
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