Pride Hospitality offers investors, owners and developers a full range of services to drive growth and maximize asset value. Hotel acquisition, development and management services are available based on your needs and goals. Pride Hospitality services include everything from new-build project management to renovations to third-party management--all with the single-focus goal of achieving year-over-year asset appreciation. Once you partner with Pride, you'll realize why we're the easiest hotel company to do business with--and why you can depend on us to create value.
Our project management team leads all aspects of ground-up hotel construction and hotel renovation. We handle site selection, feasibility analysis, construction cost analysis, architectural and interior design consulting, FF&E purchasing--complete on-site support and expert guidance from concept to completion to ensure maximum property performance.
A hallmark of Pride Hospitality is our ability to identify optimal hotel sites with high-level ROI potential. From local market analysis, competitive analysis and historical trend data to anticipated occupancy rates and revPAR projections, our team provides thorough site assessments and recommendations.
With every new build our team continues to provide hands-on construction management. It's the best way to ensure hotel construction remains in scope, on budget and on schedule. During this phase we help manage work schedules, quality control, vendor payments and change orders. We also act as your brand liaison to ensure brand-approved design and standards are adhered to every step of the way.
Gearing up for opening day requires all staff, systems and training to be in place--in addition to the physical asset being ready for business. Our team handles staff recruitment, on-boarding and SOP training to ensure the highest level of operational performance and guest satisfaction. We also create a detailed pre-opening/opening action plan that integrates Sales, Marketing and Revenue Management and ensures maximum 'buzz' to achieve occupancy and revPAR targets.
Our team will generate PR leading up to the hotel grand opening--and we'll plan opening day promotions and activities to ensure a successful launch.
Hotel renovations require appropriate planning and staging to ensure ongoing operations can run as smoothly as possible during construction. Pride Hospitality manages renovation projects to deliver site upgrades on time and on budget and to ensure guest experience remains positive throughout.
Pride Hospitality provides complete sourcing and procurement support throughout renovation and new build projects. Our services include costing, vendor RFP evaluation and selection, FF&E purchasing, MRO purchasing, and support in transitioning to in-house property-based procurement.
Financial performance and guest satisfaction depend upon efficient operations. When Pride Hospitality takes on a third-party management agreement, we take on our role as if we were owners ourselves. That means we're dedicated to, and passionate about, providing ongoing, high-touch training for all hotel staff, and we're committed to continually improving processes in order to exceed operating margin goals.
It takes more than a build or renovation to drive occupancy--and that's where our marketing expertise comes in. Our team ensures marketing alignment with the brand; places local advertising; manages online advertising, directory listings, SEO and reputation monitoring; and creates programs and events that spur on reservations and maximize revPAR.
Service is at the heart of hospitality, and every positive guest experience. By instituting SOP and providing effective training, our team creates an environment that ensures guests' needs are anticipated and responded to, and in turn generates high guest satisfaction scores and ultimately repeat business and referrals. From reservations and front desk to housekeeping and F&B our team will develop training programs to achieve on-brand service standards.
Profitability and asset value growth require diligent review and analysis of each property's P&L. Our team conducts in-depth P&L analyses to determine any performance gaps and identify areas of opportunity in order to maximize revenue and optimize operating margins. Target metrics are put in place along with appropriate reporting mechanisms to ensure goals are met--or surpassed.
Our goal is to maximize ROI and grow asset value for all our stakeholders--and we ensure that goal is met first and foremost with our financial tracking and reporting. Pride Hospitality's finance team prepares budgets, performance tracking reports and financial statements to enable effective forecasting and strict regulatory compliance.
Pride Hospitality asset management offers clients a comprehensive way to ensure optimal hotel profitability and reach investment objectives. Through thorough review of key inputs including budgets, financial statements, capital expense, real estate market, financing terms and competitive landscape our team can identify opportunities and create a plan for continued asset appreciation and ROI.
From property & equipment breakdown insurance and general liability protection to workers compensation and crime & fidelity coverage, a comprehensive insurance program is key to managing risk and ensuring minimal loss due to unforeseen events. Our team will identify the right mix of insurance products and ensure your optimal coverage levels are in place.
Pride Hospitality provides hotel financing arrangements for new build construction, property acquisitions, and refinancing of existing properties. Our team will work with owners and investors to source capital with the most favorable terms to ensure an optimal investment strategy and meet ROI objectives.