SERVICES
Renascent Hospitality has service packages to fit the need of every hotel owner, potential owner, or investor. We provide the unique ability to customize our levels of service to assure that our clients have the best possible experience in hotel ownership. To find out more about what Renascent can do for you and your hotel, contact us today!
Management
Renascent Hospitality is a full-service hospitality management company and our team members' deep experience acts every day to enhance the profitability of each of our hotels. Renascent has strong relationships with many of the brands and is continually abreast of new standards in order to make certain that the hotels in our portfolio are the best they can be. Our corporate office staff is continually trained and is a great resource for new trends and regulations on everything from maintenance to human resources. Management Services include proven policies and procedures for all daily operations at the hotel, routine site visits and inspections to ensure cleanliness, quality, efficiency and overall guest satisfaction, training and supervision of hotel staff for productivity and compliance with policies & procedures, tracking of continual brand standard updates in order to ensure compliance at each hotel, coordination and accountability for capital spending when needed, production of annual Sales & Marketing plan and assistance to hotel sales staff in implementing the plan, centralized human resources functions including administration of employee benefit plans, implementation of leave policies, coordination of recruiting, interviewing and hiring processes, coordination of background checks and drug screening, development and implementation of employee handbooks, and establishment of proper cost controls.
Accounting
Our proven and tested accounting policies and procedures along with strict controls ensure that the Owner has accurate information and that hotel spending and revenues are properly tracked. The Renascent Hospitality accounting staff receives continual training from Certified Public Accountants and other certified financial professionals to ensure the best of bottom line results. Our Accounting Services include oversight of all day to day accounting functions including but not limited to: daily cash reconciliation, daily trial balancing, daily bank account reconciliation, daily revenue tracking, accounts payable, general ledger tracking, and profit and loss statements; training of hotel employees on proper accounting methods for Renascent’s systems; cash management services for Owner’s accounts, including selection and maintenance of appropriate banking institutions, tracking of daily deposits, and issuance of checks to hotel vendors from Owner’s accounts on Owner’s behalf; production of detailed annual and monthly budgets for Owner approval and review of actual income and expenditures based on those budgets on a monthly basis; and monthly profit and loss review with Owner.
Operational Remediation
Sometimes all a hotel needs is a little TLC and being pointed in the right direction. Renascent Hospitality has a unique program for hotel owners that want to continue to self-manage a property. Allowing our team of experts to come in to a property for a minimum of six months to overhaul the operations and controls is just what some owners need to get the property turned around. Renascent Hospitality has been involved with several successful turnaround situations and is willing to train the staff, owner, and the owner’s advisers to allow a property to be the best it can be. Preparing your hotel for sale and want to move the needle in order to make the property “show” a little better? This program is perfect for that situation. The Operational Remediation program includes very similar features to a longer-term management contract on a shorter-term basis, including a complete assessment of the hotel in all facets, taking into account brand deficiencies, operational and staffing issues, and financial assessment; written action plan for consistently revitalizing the hotel over the remediation process, including detailed budget for improvements; all other management services on a short-term basis.
Property Assessment & Due Diligence
Interested in purchasing a hotel? Renascent Hospitality has been called on hundreds of times to act as an adviser to an investor interested in purchasing a particular property. Our experts will travel to a property and after studying the hotel, its operations, its financials, and market in detail, will produce a thorough report that can be presented to lending institutions and other investors. Renascent has an ever-changing extensive list of required due diligence items that we can coordinate and review with the Seller and outside consultants to ensure that you get the best value for your dollar. Renascent’s proven due diligence list and due diligence review process has been praised by many hotel investors and you can be sure that you will be contracting for the honest opinion of an experienced hotelier.
Asset Management
Renascent Hospitality has the resources available and the experience necessary to be an asset manager you can trust. Having been involved in several successful turnaround situations, Renascent has specific experience with distressed properties and the challenges that they present. Couple that with the highest of ethical standards and a keen attention to detail, Renascent provides our asset management clients with an unmatched level of service. Asset managers are not always operators who understand the ins and outs of the ever-changing hotel business, but Renascent provides unique experience to be able to not only operate the hotel or manage the asset as if it were our own as owners, but to do both simultaneously.
Development
Building a new hotel or purchasing an existing hotel can be a monumental task for investors and owners. Renascent Hospitality has developed lasting relationships with loan brokers, lending institutions, real estate brokers, and other professionals in order to secure the best possible deals for our clients. Our team is able and has a proven track record of successful development projects from the largest full service properties to the smallest transactions. Our Investor Relations department has access to a large pool of investors that are able to contribute to your project as well. Development services are customized to each project, but can include site selection; negotiations with brands to secure hotel franchise or reposition an existing property; consistent contact with several reputable real estate brokers and review of hotel deals; the unique ability to assist with securing financing through a network of loan brokers and lending institutions who are actively lending to hotel projects; recruitment and communication with potential investors; creation of print-quality presentation materials for presentation of hotel opportunities to potential investors; monitoring of hotel market trends; and coordination with an owner or investor’s legal counsel and financial advisers regarding the potential hotel transaction.
