Asset management is a very interesting and developing service within hospitality. As asset managers we not only look at a hotel as a hotel, we look at the comprehensive asset where you have land, a building, an asset cycle, we also determine at which stage the whole development is within the cycle and how to maximise profitability based on a strategic asset improvement plan.
At the end of the day, Barefoot consultancy in an asset management process becomes the gatekeepers between the management company and the owners of the property. We look at maximising output from the managers as well as meeting owners expectations from loan repayments to where their interests are in the asset cycle itself, are they still interested in maintaining the property, do they want to sell it, has the asset reached a certain value, what do we need to do in order to increase or improve the value of the asset and various other considerations including how is the asset standing up to the current and incoming competition, what would be required to maintain the competitive nature of the property. We are the go-betweens between the owners and the management company so if there are any contractual issues we will intervene or handle before the owners are involved.