Coastal Hospitality Management Company (CHMC) is the Property Management division of Coastal Hospitality Group (CHG), and oversees the individual propertys daily operations. Our centralized reservation and marketing structure allows our on-site managers to focus on customer service and maintaining the property, as all sales and marketing for each property is performed from our corporate office, where trained marketing professionals are loading proper inventory, rates, and promotions on a constant basis. Our on-site property managers go through thorough training in customer service, team management and property maintenance. In additional our Regional Manager visits each property weekly, spending time with each member of the on-site staff to stay on top of potential issues, and ensure performance. Our corporate office monitors daily financial performance, performs weekly audits, and submits monthly, quarterly and annual reports to our clients and investors.
As hotel owners, we understand the importance of not only maximizing net operating income, but also investing in the proper capital improvements and establishing an adequate on-going maintenance program to protect and grow the overall value of the structure and business.
While we are flexible in structure, a typical property management agreement will include compensation that includes a base fee of 3-5% of gross revenue, plus an incentive fee of 7-15% of net income. For this, our company can offer the following services:
- Establish an annual operating budget for owner approval, including maintenance and capital improvement budgets for the year.
- Plug into CHG marketing systems which includes OTA management, social media, email blasts, cross-marketing sales program, corporate sales program and individual website and online optimization.
- Full staffing services, from hiring, training and managing staff members (employees and contractors) in all departments, to being responsible for payroll systems, taxes, workers comp, payroll and all human resource responsibilities.
- Reporting can be established as often as requested by our clients, whether it be daily night audit reports, weekly maintainance updates, and monthly, quarterly and annual operating reports.
- Asset management and value-add program establishment and execution which includes construction oversight, entitlements, and repositioning of properties.
If you are a hotel owner, who is either running the business yourself, or overseeing a General Manager, and would like to explore the benefits of 3rd party management, contact us today and we will be happy to discuss how we may be able to enhance your operations. firstname.lastname@example.org
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