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| Business Plan | The strategic business plan created by Marshall Management, Inc. for each hotel is the property's blueprint for success. This carefully thought out plan includes a realistic operating budget, a capital improvement budget and a sales and marketing plan. All such budgets and plans are consistent with current franchise and local market requirements; they must be approved by ownership before implementation. | ||||||
| Operations | Marshall Management, Inc. 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. | ||||||
| Personnel | Integral to a hotel's success is its manager. Marshall Management, Inc. has taken pride in being able to find and keep the most competent managers for a given hotel property. Furthermore, the best available personnel are found for all operational areas; a key to our success is the longevity of our employee associates, both in the home office and in the field. The company is well versed in ongoing Federal Regulations regarding personnel such as ADA, OSHA, FMLA and COBRA. | ||||||
| Renovations and Purchasing |
The company has developed close relationships with many suppliers and manufacturers. Due to economics of scale, purchasing power is realized. While saving ownership unnecessary expenditures, quality renovations are achieved. | ||||||
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| Services | Marshall Management, Inc. provides centralized accounting services for hotel clients, resulting in lower administrative payroll costs to the hotel and more accurate, informative and timely financial information. The central accounting office closely monitors daily accounting reports, supervises payroll processing, prepares monthly bank reconciliations, files sales and use tax returns, pays most invoices, and manages hotel cash. | ||||||
| Audits | To assure both a high degree of operating efficiency and administrative accuracy, an audit is conducted no less than twice a year. In addition to a thorough inspection of the physical property, the audit consists of a complete examination of the hotel's cash handling and reporting methods, the accuracy of daily reports, and analysis of payables and receivables, a check of all employment records, and a detailed review of all front office and administrative procedures. | ||||||
| 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. 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. |
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| Sales and Marketing | Marshall Management, Inc. places special emphasis on a strong and effective sales and marketing department. Sales works strongly on two levels, locally and nationally. Major consideration is placed on working with managers to better enable them to work with their sales staff. Following careful research, strategic marketing plans are put in place for each property in the portfolio and reviewed quarterly. Marketing dollars are carefully allocated and accurate market segment tracking is reviewed to assure that the monies are being spent wisely. In order to further promote sales and marketing, major national conventions such as HSMAI, NTA and ABA are attended regularly. | ||||||
| Advertising | The sales and marketing department works closely with an in-house graphic artist to provide cost effective, full-service graphic design. The department handles all advertising including direct mail, print media, radio, television and billboards. | ||||||
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| Development | One of the most compelling incentives for hiring Marshall Management, Inc. may be the utilization of their development expertise, from the initial design of the project, to the property's opening and subsequent management. Once a pro forma analysis is conducted and a pro forma budget is completed, the Principals can determine the amount of investment the project can support. Marshall Management, Inc. can provide a complete financial package, and if needed, assist in obtaining financing. The company can aid in the hiring of an architect and interior decorator experienced in hotel projects, and in ordering furniture, fixtures and equipment using our established purchasing power. Throughout the years, the company has worked with several franchise types and can assist with securing the most advantageous brandname. | ||||||
| Insurance | By signing a management agreement with Marshall Management, Inc., a hotel becomes eligible to participate in the Group's property and casualty insurance program. As the owner of the Quality Suites Baton Rouge learned recently, the savings can be significant. Prior to engaging Marshall Management, Inc. in January, 1996, the hotel paid annual premiums of $60,419. Through the Marshall Management, Inc. program, annual insurance costs were trimmed 61 percent to $23,467, while improving the overall coverage. Very competitive rates are available to new hotel clients that do not possess unusual risk characteristics. | ||||||
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| Asset Management | Asset Management is a means by which Marshall Management, Inc. can assist institutional investors and owners with their real estate portfolios. Provided monthly are budget and capital improvement reviews, financial statement analysis, sales and marketing evaluations, overviews for proper implementation of objectives and strategies, financing and debt restructuring, and internal controls. | ||||||
| Consulting | With key personnel serving in an advisory capacity, Marshall Management, Inc. can extend a helping hand to ownership, financial institutions, or other management companies. Areas of expertise include: operations and financial audits, business planning, capital expenditure planning, marketing plans, competition and demand analysis, franchise selection and management systems. | ||||||
| Lender Workouts | For the past several years, Marshall Management, Inc. has assisted lending institutions, insurance companies and individual hotel owners with the management and sale of their non-performing hotels through foreclosure, bankruptcy and court appointed receivership. | ||||||
| Operating Audit | Marshall Management, Inc. has been aiding prospective hotel purchasers determine if the purchase price is based on "real" numbers. In order to build a trailing twelve month profit and loss statement, the company sends a team to the property and conducts a complete operations and accounting audit. Irregularities or adjustments to the numbers provided by the sellers are reported to the buyer with detailed backup. This service is also available to lending institutions who may be suspicious of or do not understand the results being reported by the mortgager. | ||||||
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| Marshall Management, Inc. has developed the Selected Service division to accommodate the needs of an owner and partnership management groups in today's business climate. Specific services from the company's management of operations to sales, marketing, and accounting services are contracted and tailored to meet the needs of the specific situation. The Selected Service clients can leave contracted details to our organization allowing these owners or partner management groups to concentrate on other areas important to their business path. | |||||||
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Acquires Contract to Operate the Four Points by Sheraton Manhattan Chelsea - Mar 26, 2008 Marshall Management, Inc., a leading, mid-sized hotel management company, today announced that it has signed a contract to manage the Four Points by Sheraton Manhattan Chelsea. This marks the company’s fourth managed hotel in New York City under a... Click Here for the full article. |
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Signs Fifth Contract of 2008 - Mar 24, 2008 Marshall Management, Inc., a leading mid-sized hotel management company, today announced it has signed a long-term contract to manage the Hampton Inn Little Rock in Arkansas. The property marks the company’s fifth new contract for 2008 and its... Click Here for the full article. |
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