Yet another U.S. hotel company faces a lawsuit about disclosing mandatory resort fees. Sonesta, which runs more than 1,200 hotels under various brand flags, faces a class-action suit in Washington, D.C., over how it displays its resort fees on its website and app.
Hotel Asset Managers Are on the Rise Worldwide
25.08.2023 - 13:07 / skift.com / Asia Pacific / Sean Oneill
Expect a rising demand for hotel asset managers, especially in Asia Pacific. This is a trend I believe has gone mostly unnoticed. The demand will be driven by changes in ownership structure.
As more hotel investors adopt third-party management, a parallel trend is emerging: Many hotel brand groups are moving to an asset-light model.
The shift by owners to third-party management and the move by hotel groups to be asset-light are together creating a knowledge gap in how to run hotels.
Ideally, an independent asset manager can fill the gap, especially at luxury properties.
Not all asset managers are equal. Some just provide perfunctory services. But others have a hands-on, custom approach to boosting a hotel’s performance.
I learned the above points from Alex Sogno, who founded Global Asset Solutions 16 years ago and whom a few people recommended to me as one of the stars in the field.
While Sogno was “talking his book” to me when describing the benefits of what he does for a living, it did make logical sense to me that the rise in the asset-light model and third-party management worldwide will create a need for more asset managers as go-betweens, specialists, strategists, brand auditors, and conflict resolvers.
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