Hotel Brand License RFP, Selection And Negotiation & Management Contract RFP, Selection And Negotiation In Connection With A Proposed 125+ room Home2 Suites by Hilton
The Client
Established commercial and multi-family residential developer with no prior hotel experience
The Mandate
Proposed development of a 125+ room Home2 Suites by Hilton situated at a prime location in a major U.S. city
The Results
- Prepared an offering document highlighting specifics about the opportunity and submitted to prospective hotel brand and management companies
- Conducted site and market tours with prospective hotel licensors and operators
- Each interested hotel company requested to submit key information and date
- Prepared matrix summarizing and comparing responses to the RFP, and analyze the advantages and disadvantages as well as financial impact of each proposal
- Engaged in negotiations with selected licensor and operator regarding the intent and structure of each business point
- Achieved approximately $500,000 in key money, an extended area of protection, and more than $300,000 in savings via a ramp up in license fees during initial years of operation