Hotel Equities Group

 

Hi Summer, good afternoon. we welcome you to the hotel vikas magazine. Thank you for agreeing for the interview.

Thank You.

Can you tell us a little bit about your company?

sure! so we have been in business for 28 years now. Um, we do hotel management. We start as early as predevelopment and then all the way to open and operating our founder and chairman of the company fread saroni. He was an award-winning gm for Sheraton at the age of 21 years old and he has done every single job there is to do at a hotel. So I think that's one thing that I am most proud of the work for a man who can, he'll never ask someone to do something that he hasn't done himself, but I think that goes a long way. Um, we, when I started with the company that we had around 42 hotels today, we have a 108.

okay, that is how many years?

Thank You.

Can you tell us a little bit about your company?

Five years.

five years? okay

yes, sir we just recently got into Canada with two hotels in Edmonton, Alberta. andd then one more in Toronto as of last week. So very exciting time.

okay and what about the thoughts forwards which of the brands that you sort of build, own and manage?

Marriott is, is our top brand. 80% of our portfolio is made up of their hotels. Uh, the majority of them select service. We feel like that's our bread and butter at the end of the day, that's what we know how to operate very well. Um, the rest of our Hilton, IHG.

okay. And what about the key services that you offered to the, build as well....

we do. So we developed a, it depends on what stage were brought onto a project. Um, we can help with the development, we can help along, you know, with the GC, oversee project management. Um, the value we bring is our experienced team. I mean we're, we're setting you up for success. haha if you go with us as your management company, another value add that we have as our training program learning and development programs.

So one in particular is the MDP program where if a housekeeper wants to grow and become a GM of a hotel, I can give you three names off the top of my head where that's happened in our company. So I believe we're working on our 7TH class of 10. Um, and we do one a year, one class a year, so we've done quite a few and have lots of success stories from those.

Another one is for the management where as soon as their graduate, as soon as I graduate from hospitality school, graduate from college in general and doesn't necessarily have to be hospitality school, um they know that they want to be in the hotel business and we put them through a six-month program where they get to work in every single position at a hotel and then by the end of their time and the program, they're ready for a management position if they

do this for you.?

do welding class YES.

SO the FDP program happens at a particular location or you go to the hotel and conduct the program?
Right. So they meet at our corporate office. We have a learning facility that we built on to our corporate office.

And where is your corporate office?

It's in Atlanta, that so done very specifically up at the top of the perimeter.

here in this city as well?? i mean in this city itself? right?

so they'll meet there several times during the course of the program, but they, each, each student goes to their own particular hotel. So that can be in Uncasville, Connecticut, Miami, Florida.

you know, so we slim them where we think their skills and talents would be best to utilize.

its a year long program?

Yes, its a year long.

and do you charge students for it or the company sponsor them?

no it is a paid. So they're paid to go through the class, just like their first job out of college, you know, interested in the, their area, you know.

okay, if any of our readers want to use your services, can you tell us something about any particular success story that you have?

Yes.

What can they expect?

Yeah, of course. Let me think. So we are very first class of management training is one of them.

I think If the If We have got a lot of hotel owners who and investors who are our readers.

so why would they wanna do that?

Suppose they want to do sort of invest money, would you build a hotel for them and manage for them, Have you done that? any of there

of course, So a lot of our owners that we found that they don't want to run the hotel themselves, they're interested in developing so they don't want to focus their attention on, on managing the actual property. That's where we can help

okay

we want to free up your time and allow you to do things that you have a special desire for. We know we're good at operating hotels. That's what we want to do to help you out. yeah and I think that's um, that's our success stories. We've had plenty of hotels that we've, we've taken over management and the hotel was failing. Maybe it's because they need it.

give me some specific example to give me some specific data.

sure

It failing harder than how you turn around and what time and what are the like before, after

Yes

what were the status before you came in. And what is the stated after you?

so one I'm thinking of in particular was a Springhill suite. Um, they were just about to lose their flag.

It was that bad. the hotel needed a renovation badly. Um, we came on board, we put the right team in place at the hotel and we told the owner, hey, we realize this hotel is not going to get a renovation for a few years. We think we can still help putting the right team in place, giving them the right tools and knowledge that they need in order to make this. The hotel successful is all they need it. The hotel was um, what number two on trip advisor. So it's not necessarily that you have to have the newest and best hotel

If that have a great team that's providing great consistent customer service. That's my guests return.

and How much time did you do this sort of magic?

I mean the haha it was the instant, of course the numbers I would say about six months.

six months...Okay, Your pick up a failing hotel was about to lose a his flag, and in six months you put them on top in trip adviser?

In six months you could tell a drastic improvement in their guest satisfaction scores.

So That's What You can do with your management expertise. so how do you do it? You bring a new completely new team or do you train the existing teams?

So that's where our training and development program is so fantastic. It's such an important part of what we do because when we bring on a new hotel that does not have a great team in place already. If we can, if we already have a pile of team members that we know are good at that you know specific thing that this hotel may need, we can go ahead and pull them from inside the company.

okay
promote them to be the GM of this hotel, So we already have our own pool of associates that we can pull those from.

and how much I mean, what is your model of the, I mean, your fee that you're charging out of the works.

I mean, the business development guys would have to do that.

okay, Great and when you decide to take over the management of any hotel or you can select the management, what do you look for?

we want somebody who's aligned with our culture. that's very important to us is if we're not aligned on certain areas, then it's just not gonna work.
You know, we, we know what we're good at and we need an owner to allow us to take control and

and what?

show them the return on investment. You know

and what about New Hotel? Somebody, if somebody has a lot of money and they just want to do to invest money, accept those kinds of plans that they just wanted to build a brand new hotel. And Run it, do you have those cases as well?

Of course. we actually have a group that we've created, well, the founder of hotel equities, joined forces with a real estate investment group and formed hotel development partners. So they've raised three funds at this oils to purchase hotels and a lot of them that they purchase needed renovations. So they put the hotel for renovation. Then they were able to turn it around.

those funds that are open for investment.
right

Okay

Yes Sir.

And if any of our one more information, can they go to your website?

They can!

Everything listed there?

Yes. Go to our website, um, hotelequities.com and click on the development tab and any questions are answering down there. Joe Reardon or vp of business development is the guy they talk to.

okay, Excellent. so Summer Thank you so much for your time. Anything else you would like to share about your company in the future that you see?

it was my pleasure. Thank you for haha having me. umm the future is bright. We're excited about the growth. We're excited about the industry, were excited about our owners and we try to do the right thing where high integrity companies, so we welcome anyone who wants to join us.

Excellent. Thank You Very Much

of course!


 

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