NEW PROJECT DEVELOPMENT

OUR PHILOSOPHY

Evaluate all new projects as if it were Monument Hospitality's investment at risk. Being CPAs (RET) and CHAs, Monument Hospitality has the ability to use the facts to make recommendations and implementation plans for new projects.

OUR PROCEDURES

Develop and Evaluate New Projects

  • Prepare an in-house property projection and mini-feasibility study

  • Evaluate and conclude on a reasonable purchase price based on in-house projections and project feasibility

  • Oversee the appraisal process, answering questions, enhancing property revenue, producing attributes, and standardizing expenses with industry norms

  • Negotiate on behalf of owner with seller and lending institutions

Implement New Projects

  • Create a comprehensive business plan tailored to the new project to include: operating, capital, marketing, and cash flow budgets; setting the blueprints for the future success of the property

  • Secure financing based on negotiations, lender and owner expectations, and project expectations

  • Oversee all aspects of implementing projects such as pre-opening staffing, marketing, renovations, and banking and credit card implementation; rolling right into daily operational management procedures