We're not a hotel management company. We're a hotel operating company. There's a considerable difference. Think about it.
Our approach: Focused, intentional, and committed
A hotel is a real estate investment, but unlike an apartment building or shopping center, it isn't a passive real estate investment, it's a business. It needs to be managed with some skill, focus and intentionality at every level; and be treated and respected as a business. If this is done, it can produce a much larger return than a passive real estate investment: if not, its owners are going to have cash flow problems.
We treat our hotels, not as a real estate commodity, but as a well-designed and well-built (if we develop it ourselves), finely tuned machine.
We take its performance very seriously. (We can build it as big, and as plush, and as comfortable, and offer or include as many services, as we'd like; but it has to make money, or at least pay for itself.)
But as high-performance machines go, it can actually be fun to play with. (Indeed, it has to be: otherwise, no one would particularly enjoy staying there).
Like motorsports teams who build race cars, or aircraft designers, the psychic/spiritual/intangible reward for us in developing and managing hotels is to see what we can get it to do, to see how well we can get it to perform; to make any hotel do things that no other hotel will do, that even most 'hospitality professionals' didn't realize could be done with such a hotel.
That's why our focus - and emphasis - is on operating hotels, not merely managing them. If all you need is someone to babysit the property, preside over the mess, and try to not lose too much money for you; then your ne'er-do-well nephew, your brother-in-law who needs a job, or my ten-year-old niece could do it.
Every hotel management company has a website and promotional material full of its own vision of how things should be. We have our vision as well, and we hope to share much of that with you here.
But you're here because you have your own needs. So, we hope to keep this site equally or more focused on how we can assist and support the hotel you have, and take it to where you want it to go, meanwhile seeking and seizing upon opportunities to make it the best hotel it can be.
Beechmont began as a management company with one thing in mind: we're not going to be like the others. You select us because you have a vision for your property that fits within what we can do well.
We, on the other hand - as well as every employee and manager - are committed to always doing what is right for the client-owners, and always doing what is right for the hotel, no matter what.
As a hotel management company, Beechmont offers more standard, permanent management agreements - ten to twenty years in duration - with client-owners who seek to preserve and add to the value of their properties as a long-term holding.
While we seek permanent management agreements with more viable properties and owners with whom we can enjoy a long-term, mutually beneficial relationship; we're willing, and prepared, to work with you if your goals and immediate needs differ. A lender-owner, for example, might wish to simply dispose of a property as soon as an opportunity to get most of his money back out of it presents itself, and to keep costs as low as possible in the meanwhile. The subsequent buyer of such a property may desire that it be unencumbered by management.
We're willing to work with that, when necessary.
We are perhaps best known for a specialty in lender-owned properties, troubled properties that require a rapid or emergency management change, and properties intended or marked for sale by their existing client-owners.
Where do we start?
What we'll do, typically, is go over your property, learn all we can about it, send someone up to check in and stay a few days, get to know as much as we can about the hotel, the surrounding market, and the relationship between the two. Meanwhile, back in Winston-Salem, we'll be dissecting your market, analyzing the rates listed by your hotel and those of your direct competitors, picking apart your TripAdvisor reviews, and putting together a marketing plan for your hotel.
The game is to answer the question, what can we do with this hotel, what can we get it to do, how well can we get it to perform?
We also take the client-owner's goals into account.
Is the client-owners rooted in the local community and wants this property to be a fixture in which the community can take pride for a long time? (We'll plan on a long partnership, and a corresponding commitment.)
Is it a lender who just wants the property kept up until he finds a buyer? (We won't let it run down, but we'll be sensitive to costs - and our commercial broker in Mocksville will get a call. If it looks like a keeper at an acceptable price, we'll even set up a limited partnership and try to line up a few partners, find someone to buy it from him, give the owner his wish...).
Does she want to retain some involvement in management? (We'll accommodate her up to a point, but we have to work together - first questions is, can we work together? She has her concerns, understandably; we have our job to do, and we can't get in one another's way...)
Click here to see some 'lite' versions of what we do and how we approach it.
For these, we just work with information freely available online, and don't make a trip out to pay the properties a visit. And since these are properties currently listed for sale on various hotel broker websites, we do not take into account how an individual property might work for a specific owner.
Some properties, we just can't do anything with.
Part of it is just plain logistics - if we have ten properties up and down the eastern seaboard, it's that one property of yours in San Diego that we sign that'll have ninety percent of the problems, for you and us both.
If the property is a run-down voodoo hellhole that's overdue for a date with a bulldozer, there's not much we can do with it unless you're willing to make the investment to renovate it - and if it's worth renovating. (Sometimes, the thing to do is tear down and build fresh. Or sell it and consider a different location. We'll tell you, straight. We can't predict the future, but we try and avoid making promises we can't keep.)
If you just want to milk the last five bucks out of a $3.98 investment, fill it with SRO's, rent rooms by the hour or at short-stay rates . . . thanks for calling, but no. (We would be curious, however, what made you think of us for something like that; what made you think we'd care to run that kind of property, or be any good at it . . .) Taking on management of such a property is no fun for us, and would bring any other properties managed by us into disrepute, not very thoughtful to our other client-owners.
If a property is in mortgage trouble (whether due to a bad debt-equity ratio, a default on a mortgage loan, or a non-performing mortgage loan) and must contract a management company at the insistence of a secured lender, we in turn insist that the primary lender be a party to the hotel management agreement, and guarantee availability of all working capital and inventories required under the HMA.
Then, we'll meet again and give you a Property Development Plan. (Limit one per customer. We'd like to charge a few thousand for those, and we will if you're a previous user who didn't sign last time; but if we did it with everyone, we wouldn't be giving ourselves much of a chance to properly evaluate a property.)
If we're in agreement on where to go with your property and that we can work together, we'll sign a fairly typical Hotel Management Agreement (HMA), with a few modifications.
We're anything but snobs, but client-owner-management alignment is very important to us. With that in place, we can amicably resolve any issue that comes up between us. Without it, we're sooner or later going to have problems no matter how detailed the contract.
Even if you're contemplating putting a property under management, but are undecided, e-mail us, or give us a call. The sooner we open a dialogue, the better prepared we are if the big day comes, and the more effectively we can hit the ground running.
Beechmont Hotels Corporation
6255 Towncenter Drive, suite 602
Winston-Salem, North Carolina 27012
Reference is made in several places on this website to investment groups, corporations, limited partnerships, LLCs and similar entities in which we from time to time become involved at their formative stage, and with which we might subsequently contract the management of properties. These entities seek investment by private offering only. Nothing on this website should be construed as an offer to sell, or an invitation of an offer to buy, securities.
Beechmont is not a NASCAR sponsor. Race and crash photos are for illustration purposes only and were taken from public domain sources.
Not all hotels depicted in illustrations on this website are Beechmont-operated hotels.
Site development and management: Midnight Star Communications, Bethlehem, Pa.