In today’s operating environment, a hotel is not simply a hotel. CHM understands this and considers a hotel’s physical attributes, locational characteristics, market conditions and anticipates future trends to assess redevelopment, conversion and alternative use options for every investment opportunity. We have found that modifying or expanding a traditional hotel to include related alternative uses in some instances may not only serve to optimize the value of the real estate, but also may generate more visitors to support ancillary facilities and services such as multiple food and beverage outlets, spa and fitness facilities, retail operations and golf. There are a variety of real estate uses that are compatible with an operating hotel, such as whole ownership or fractional residences, condo-hotel and retail complexes to name a few, which if properly programmed, designed and integrated will not only serve to potentially diversify the overall risk profile of an asset, but will often yield higher returns.
CHM has actively participated in the planning, programming and execution of approximately $900 million in hotel repositioning, reprogramming, redevelopment, mixed-use development and master planning projects, all aimed at maximizing asset value and overall investment returns. Through this experience, we have gained an unmatched understanding of the interrelationships among land-uses and the incremental value that the combination of uses can bring to a hotel deal.