Hersha Hospitality Management currently provides asset management services and hotel management services at over approximately 70 upscale and mid-scale hotels in the most valuable markets in the nation, including Boston, Hartford, New York City, New Jersey, Philadelphia and Washington D.C.
Seamless Transition into our Portfolio: We are skilled at bringing new properties into our portfolio and have a cross-functional team focused on flawless integration in asset management, accounting, payroll, human resources, and information technology.
We provide asset management for full service hotels affiliated with Marriott and Hilton, and certain other select service properties. Institutional investors and owners retain us exclusively to provide systematic budget and capital improvement reviews, financial statement analysis, sales and marketing evaluations, overviews for proper implementation of objectives and strategies, financing and debt restructuring, and internal controls.
Our property-level teams are passionate about delivering superior guest services, retaining and developing associates, and continually analyzing key factors that measure performance. Rates are structured, checked against daily snapshots of key hotel statistics and changed as market conditions warrant. Rate maximization through aggressive yield management is an integral part of the operations strategy. Additionally, our guest satisfaction scores are consistently higher than brand averages.
Sales & Marketing
Our determined and experienced sales management team provides one-on-one coaching and sales training to maintain property level focus on the bottom line. We also maintain an independent on-line booking system at www.hershahotels.com to promote direct bookings within our portfolio. Our regional sales teams support and enhance on-property sales efforts by providing market segment expertise and focus on the corporate, tour and travel, sports and entertainment, and AAA markets. Our marketing department is highly skilled at providing industry specific print and multimedia products, advertising support, website design, and tradeshow collateral.
Centralized Accounting & Reporting
We provide centralized accounting, property audits, internal controls and reporting to public company standards. We have also invested in a leading hotel management accounting system that enables daily snapshots of key hotel statistics, timely reporting and interpretation of monthly financial results, and variance analysis. We benchmark this data within the portfolio to make real-time decisions that ensure our hotels are running cost-effectively and profitably. We also audit all properties regularly to ensure operational controls and standards.
We champion a set of core values that fuel the culture at Hersha and connect the principles of our founders to all current employees. We also work exhaustively to identify and select the most talented General Managers and associates - our most important assets - to carry on these traditions. We bring to bear the resources of a national company at each of our local assets.