As asset manager, Columbia Hospitality’s role is to ensure that ownership's objectives and goals receive first priority. To achieve this we act as the owner's agent, working directly with the management company or onsite team to provide oversight on all facets of property operation. This can include:
- Annual operating budget review
- Monthly income statement and balance sheet review
- Evaluating operational effectiveness and concept viability
- Reviewing market penetration and competitive set metrics
- Evaluating sales and marketing strategies and tactics
- Capital improvement recommendation and budget review
- Asset protection and risk management evaluation
Asset Management arrangements can provide peace of mind to ownership. They can also improve RevPAR and market penetration, increase property valuation, enhance guest service, and improve team member retention. Columbia Hospitality has experience working with both private and public ownerships, as well as branded and independent operations.
Columbia Hospitality has had the privilege of being involved with several exclusive, luxury condominium projects in Washington, Colorado, Hawaii and British Columbia. From consulting to development, marketing, and ongoing HOA management, we apply the same ROI-centric hospitality focus to condominium operations as we do with our luxury hotel and resort portfolio.
Columbia's recent and current projects include:
- Complete facility and HOA management of Escala, a 31-story, 269 unit premier luxury condominium building in downtown Seattle. Columbia's responsibilities cover all facility services including concierge, spa and fitness center, private dining room, wine cave, and meeting rooms; security, housekeeping and maintenance; team member selection and training; administration and coordination of all HOA meetings as well as financial accounting and reporting.
- Management of guest services, grounds and maintenance and human resources for the 13-acre, 364-unit Papakea Resort in Lahaina, Hawaii, on the island of Maui.
- The Lake House at Chelan - Columbia conducted full operational oversight of this 40-unit all-suite fractional condominium property located in Chelan, Washington, a growing resort destination. In addition to responsibilities engaged for the benefit of the developer/HOA, Columbia promoted the use of the facility in a traditional hotel management operation. This included sales and marketing initiatives, revenue management, guest services, activity/excursion coordination and community outreach/involvement.
- Homeowners Association representation with regards to contractual performance, operational budgets and capital projects for the Residences at The Little Nell in Aspen, Colorado.
Columbia Hospitality will manage HOA expenses, improve guest and resident services, and ultimately increase your condominium project value.