"The monthly reporting package from Oak Hotels is the most complete and comprehensive that we receive."                 John Kozeka, ALLIED CAPITAL

It is essential to Oak that owners are kept well apprised of developments at their hotel(s). This is accomplished with the following reports and interaction, which, when combined, act as our "report card:"

Annual Budgets
Oak completes one of the most detailed and extensive budget packages in the industry. The process is designed to allow the executive and property management to develop and implement both short- and long-term operating strategies and is centered on the following three areas:

Sales and Marketing Plan
A complete evaluation of the individual market place occurs annually.  Strategies are planned and documented to capitalize on all anticipated market place changes.  All marketing strategies are revisited, refocused and, if needed, retargeted throughout the year.  The process ensures that revenue-producing opportunities are not overlooked.

Financial Budgets
We utilize a zero-based process whereby all expense line items are scrutinized.  Projected profit margins are compared to similar properties and prior years' results.  ROI is reviewed relative to all discretionary spending.

Capital Budgets
We do an extensive capital review of the property by going through each guest room/suite, and public areas with a detailed check list, as well as a detailed review of all roofs, HVAC systems, ADA compliance, etc.

Monthly Reporting
Although monthly reporting packages can be customized, Oak's monthly financial statement package is forwarded to owners on a timely basis and includes the following reports:
  • A written and graphical summary of the prior month's results
  • Current month and year-to-date summary and detailed P&L, as well as operating statistics -- all compared to budget and prior year results
  • Balance Sheet
  • Statement of Cash Flow
  • Capital Budget Activity Report

Management Company Contract
Oak dedicates a single corporate executive (Ray Rickards) who is responsible for contacting all hotel owners regularly to provide updates on all property-related issues and to proactively address any owner issues and always makes himself available to take your calls.  Face-to-face meetings are scheduled as often as requested and/or needed by owners.

Takeover
After takeover, a follow-up report will be prepared detailing all areas that were addressed during the takeover period and short-term potential "red flag" items.

 

Oak Hotels Inc.
2424 State Route 52
Hopewell Junction, NY 12533-3221
(845) 223-3603 (ext. 242) / Fax (845) 223-7340
 
Website & Marketing by: Oak Hotels Inc.