1998 – Present
CHMW has served as the sole hospitality advisor and asset manager for General Motors for more than 16 years. Dating back to the acquisition in 1998, CHMW’s senior executives have been providing a full range of hotel advisory and asset management services, including brand selection, management agreement negotiation and operational oversight on behalf of General Motors Corporation. As a part of their global world headquarters, General Motors owns the 1,297-room Detroit Marriott Renaissance Center and 260-room Courtyard by Marriott in Detroit, Michigan. CHMW was an active member of the team responsible for planning and executing an original $125 million renovation and repositioning of the Marriott Renaissance Center, which at the time represented the single largest hotel project renovation completed in the world. In addition, CHMW worked with General Motors to renovate and reposition the former 260-room Omni Hotel into one of Marriott’s first urban-prototype of the Courtyard product. Today, CHMW continues to provide asset management services to enhance operational performance and preserve the assets, including several restaurants located within the complex, which have become an integral component of the Renaissance Center.
A few notable successes during the most recent economic recovery period (2010 – 2015):
Operational Asset Management
- Managed the process for identifying and selecting a new office complex manager (5M SF complex), including developing the RFP, and managing the evaluation and selection process, resulting in net annual savings of $1M to ownership.
- Assisted manager with a labor benchmarking analysis for similar-sized hotels in CHMW’s portfolio to develop a “right-sized” staffing model that can adjust to shifts in occupancy.
- Developed KPI summary for F&B departmental metrics that are reviewed every month. Focus on revenue strategies and cost savings have resulted in departmental profit margin improvement of approximately 2 percentage points (or $300,000) during a renovation year. Re-examined Other Operating departmental expenses and improved profitability by $200,000.
- Nearly doubled the GOP margin and increased Adjusted NOI by $2.6M., reversing several years of NOI losses.
Capital Planning & Oversight
Developed, and actively oversaw a $40M renovation project. Negotiated project management fees resulting in a $1M savings from the initial bid. Re-negotiated management agreement with Marriott, resulting in a $15M contribution to current renovation.