At Coakley & Williams we have extensive knowledge on how to turn hotel projects into profits for our clients. This knowledge comes from 50 years of experience in business and longstanding relationships with amazing people. We look forward to developing your ideas and a relationship with you. -Mark Williams
Director of Development
The correct positioning of a hospitality asset at a particular point in its life cycle is truly a complex process, especially as compared to other real estate classes. Constantly changing market factors, including outside economic forces, shifts in demand patterns and changing competitive pressures, can all influence a property's success and constantly force an owner to reevaluate an asset's position.
At its core, repositioning is really product development and our nearly forty years of experience has shown us how to successfully develop products your customers want to buy, regardless of the current business cycle.
Coakley & Williams' experience as both developer and owner of a variety of hotel assets perfectly positions us to take a fresh look at each hotel property. When an asset's performance is not living up to owner expectations, our clients look to us to implement the most productive and cost effective changes possible, allowing each property to once again successfully compete in its market. Adding value through repositioning has been a constant component of our strategies to improve return on investment.
Based on our client's goals, we provide the necessary research to assist in the decision making phases, developing a hospitality repositioning plan, and then executing the strategy, whether it be a complete rebranding or simply a refocusing of the business model. Hospitality demands repositioning as much as marketing and sales in the hotel industry to ensure long-term success. The scope of this work often includes:
- Identification of current and desired hotel market segments
- Competitive analysis
- Recommended improvements focusing on the hotel's competitive edge
- Costing of any renovations or operating changes required
- Cost-benefit analysis
- Forecasted operating results
Just in the last few years, we have converted several properties to new brands with amazing results:
- Days Inn Dulles, Herndon, VA Crowne Plaza
- Days Inn Oceanfront, Virginia Beach, VA Hampton Inn & Suites
- Best Western, Newark, DE Ramada
- Quality Suites Maingate East, Kissimmee, FL Royale Parc Suites
- Closed hotel, Brian Head, UT Grand Lodge at Brian Head
Regardless of your unique situation, we can help if:
- The return on investment of a hospitality asset on which you are competitively bidding or contemplating acquisition of will be tied to the value you create by improving the property's marketplace position.
- Your aging hotel's franchise agreement will not be renewed by its brand due to either changing franchise requirements or seemingly excessive capital requirements necessary to retain the brand.
- A major demand generator in your market has moved and you must address and re-create your property's business strategy going forward.
- You are contemplating a comprehensive expansion plan requiring a major capital spend.
Let us develop a cohesive, complete hotel repositioning plan to address each critical step, component, and challenge of your repositioning process.
Construction and Development
- Experience in all phases of hotel development and with all property types
- Market analysis
- Pre-opening services, with detailed critical path
- Assist in securing financing
- Pro-forma and valuation analysis
- Furniture, fixtures, and equipment purchasing experience and guidance
- Plan review
- Flexible contract terms