Houston YP Hospitality Management Inc’s principals have more than 25 years experience of overseeing the development and operation of hotels in Canada and the United States. Since then, the company has continuously strived to keep abreast of trends in development, management and franchising and has delivered above-average performance in the hotels that it manages.
The company has demonstrated its ability to successfully develop new hotels by identifying potential markets and development sites, overseeing the pre-construction and construction activity, negotiating financing and franchise agreements, and then supervising the day-to-day operations.
It also conducts due diligence on acquisition opportunities, providing purchasers with detailed and objective assessments of the risks and opportunities. Houston Y.P. Management Inc. has established relations with franchisors, lenders, consultants, architects, engineers and others associated with the hotel industry; these relationships can be drawn upon, as required, to help optimize yield and value in hotel assets.
Houston YP has a ‘pro investor’ approach. It also maintains good relationships with the various lending institutions involved in each of their projects. They provide detailed reports on the performance of the hotel and its competitive market, and keep open lines of communication to ensure that investors and lenders are kept aware of issues relating to their investments.
Resume of Experiences
The following details some of the key experiences of Houston YP Hospitality Management Inc. and its principals in hotel development, acquisition and operation:
1979 to 1999 Ramada Inn and Days Inn, Houston, Texas
Took over this 224-room, full-service hotel in 1979. Operated successfully as a twin-branded hotel comprising a Days Inn and Ramada Inn. Responsible for overseeing the management of the hotel and for ensuring the property is properly maintained. Develop operating and capital budget. Sold the hotel in 1999.
1990 to 1997 Holiday Inn, Mississauga, Ontario
Acted as Asset Manager on behalf of a family group to identify acquisition targets and to negotiate the purchase agreement. Identified this 151-room, full-service hotel that was underperforming as a new, independent property. Investigated the purchase opportunity and completed the acquisition. Took responsibility for the operation of the hotel, overseeing on-site management and staff. Negotiated a franchise agreement and converted the hotel to a Holiday Inn. Continued to oversee management and delivered an above average return to the owners. The hotel was awarded the ‘Quality Excellence’ award for five years.
1995 to 1997 Radisson Hotel, Markham, Ontario
Acted as Asset Manager on behalf of the same family group as the aforementioned Holiday Inn. Charged with the same responsibilities of acquiring and operating this 202-room, full-service, first-class hotel in Markham (formerly the Valhalla Inn). Repositioned the hotel as one of the leading hotels in the market through upgrading of the facilities, enhanced management and a new brand affiliation. Led the hotel’s improvements from a $600,000 loss to as 12% return within two years.
1996 to 2004 Best Western Roehampton Hotel & Suites, Toronto, Ontario
Acquired this 112-room, full-service hotel in midtown Toronto in April 1996. Developed a repositioning strategy to take the property from a deteriorated, economy hotel to a fully renovated, mid-market hotel that out performs many of Toronto’s better hotels. Achieved double digit returns.
1998 to 2005 Days Inn Conference Center, Dorval, Quebec
The 92-room Days Inn Conference Centre in Dorval was purchased in early 1998 having been identified as a property with considerable upside potential. The hotel’s facilities were in poor condition, and many of the facilities under utilized. Developed a capital improvement plan, and implemented operating systems and controls. The hotel was fully renovated and operating results were significantly improved. Ongoing enhancements to service standards resulted in increased revenues, leading to optimized financial results and the subsequent sale of the property at peak value.
2000 to 2005 Hampton Inn (Hilton franchise), Humble, Texas
Responsible for developing, financing and operating this 81-room hotel that opened in November 2000, Houston Y.P. Management supervised the construction phase, implementing Hampton Inn design and construction standards, and has been responsible for staff recruitment, Hampton Inn training and establishing all departmental systems and procedures. The hotel is highly successful, reaching an average occupancy of approximately 75% with an average rate of $130 plus.
2002 to present Hilton Garden Inn, Markham, Ontario
Identified the market opportunity for this 145-unit full-service hotel in Markham, Ontario. Worked with franchisor and architects to determine optimum size, configuration and quality of the hotel. Negotiated development agreement with municipal officials. Construction was supervised by Houston Y.P. Management. The hotel managed by Houston Y.P. is now one of the leading hotels in its market, reaching occupancy level in the higher 70% range, with an average rate of $123.
2007 to present Hilton Garden Inn and Conference Center, Pearland, Texas
Identified the market opportunity for this 137-unit full-service hotel in Pearland, Texas same as above. Once again worked with the franchisor and architects to determine optimum size, configuration and quality of the hotel. Negotiated development agreements with municipal officials which included the successful granting of tax abatements. Construction was supervised by Houston Y.P. Management. This hotel is being managed by Houston Y.P. and is the only hotel in Pearland that has a conference center. The approximately 12,000 sq ft conference center is becoming the location where many of the City’s major events are being hosted. It enjoys an average rate of $120 with an occupancy level of 73%.
Multi-residential Housing and Other Experience
1995 to 1999 Elm Park Manor Apartments, Toronto, Ontario
Assumed management of this 416-unit apartment building in 1995. Responsible for upgrading the building to confirm with the most stringent municipal standards. Sold the property in 1999.
1978—1980 IGA Supermarket Chain