to Give Hoteliers Timely, In-depth Property Analysis
|CHICAGO — (Feb. 22, 2005) — Morris Lasky, President
and CEO of Lodging Unlimited Inc., a Chicago-based full-service management
company, is offering his expertise to hoteliers through a series of Streamlined
Studies – a client-friendly, cost-effective service designed to help hotels
save money, protect their investments and become more competitive in the
“The Streamlined Study provides our hotel clients with the information they need to make informed decisions quickly – without the time and expense associated with in-depth market analysis or feasibility studies,” said Morris Lasky, CEO of Lodging Unlimited.
Lasky, a 40-year hotel veteran, has long been known in lodging-industry circles as the “hotel doctor” for his proven ability to cure the ills suffered by under-performing hotels. Over recent years, he’s become just as well known—perhaps even more so—for co-founding and serving as Chairman of the Lodging Conference, a top industry event to be held Sept. 27-30, 2005, in Phoenix, and as Chairman of the International Hotel Conference, to be held September 12-14, 2005, in Monte Carlo, Monaco.
Lasky’s Streamlined Studies have helped hoteliers in the following ways:
Management contracts – A recent Streamlined Study enabled an inexperienced ownership group to negotiate a more favorable management contract with the company it had hired to operate the hotel.
Asset evaluation – Lodging Unlimited reviewed a deal to determine whether a company that had planned to buy a hotel should keep the property or flip it for a quick profit.
“As a result of the Study, we found that if the purchaser closed on the property and spent a small amount on renovation, it would be worth three times the purchase price within three years,” Lasky said
Acquisitions – A client hired Lasky for advice on making an offer to purchase a hotel. Lasky reviewed the deal and the competitive set and concluded the offer was too high. As a result, the group revised its offer and is currently in negotiations to purchase the property.
In another case, investors requested that I evaluate a hotel for potential purchase. I immediately determined the seller overpriced the hotel and suggested his client make an offer based upon value.
“Now, as the investors move forward, they are better equipped to negotiate a fair deal,” Lasky said.
Simple, efficient process
Hotels participating in a Streamlined Study are required to submit specific research materials prior to an on-site visit by Lasky. Once these written materials are reviewed, Lasky personally will spend two days at the property inspecting, interviewing and analyzing the overall operation as it relates to the specific task: management contract, asset evaluation or acquisition. The on-site inspection is followed by a verbal presentation to the client and a brief letter of review.
Fees for a Streamlined Study are $10,000 (plus out-of-pocket expenses), compared with other studies, including competitive feasibility or market analysis studies, which can cost from $25,000 to $100,000.
For more information on retaining Morris Lasky to conduct a Streamlined Study, contact him at (312) 595-1390.
About Lodging Unlimited
Barb Worcester, President
|Also See:||Lasky, Cauvin Expanding Shared Management Philosophy Coast-to-Coast / July 2004|
|Produced By Hoteliers For Hoteliers, ‘Essentials Of Hotel Ownership’ Conference Hailed By All Who Attend / June 2004|
|Lasky Launches ‘Lodging Unlimited West’ At Hotel Ownership Conference In New York / April 2004|
|‘Essentials Of Hotel Ownership’ Event Proving To Be In Big Demand in Big Apple; Scheduled for April 23, 2004 at The Waldorf-Astoria Hotel / April 2004|
|Belmonte Appoints Lee Dushoff To Hospitality Solutions Team / February 2004|
|Belmonte To Bring Insight To Best Value Inn Members as Keynote at Conference / October 2003|
|Belmonte ‘Talks the Talk’ in Role as Motivational Speaker / March 2003|
|Steve Belmonte Immersed in Sarbanes-Oxley as a New Member of the Board of Directors of Arlington Hospitality Inc. / May 2003|
|Belmonte’s Back In Business As Hospitalty Solutions LLC / Feb 2003|