Global Asset Solutions has marshalled EBITDA growth of 34.63% YoY to August 2024, across its expanding portfolio of luxury hotels.
Reporting on performance across its portfolio, the group saw ADR grow by 4.88% YoY to August 2024, with occupancy growing by 2.2 percentage points and RevPar climbing by 10.68% in the same period.
Alex Sogno, CEO, Global Asset Solutions, said: “Our priority is the performance of the hotel through effective collaboration between the hotel team, operator, owner and our team. The results we have achieved illustrate the importance of a good asset manager.
“The luxury hotel segment attracts attention globally from investors and we are in talks with an increasing number eager to expand their holdings in this flourishing market.
“Maximising profit from a luxury hotel requires a thorough understanding of hotel operations and an appreciation of the property’s position within its specific market. Combining these two facets is key to success in meeting an owner’s objectives in this dynamic investment class.”
“Different strategies are applied depending on the needs of each hotel and identifying what might be most appropriate comes from placing the hotel at the heart of what we do. Whether pushing the ADR or focusing on F&B, to restructuring the payroll and reviewing costs, our team’s long experience allows us to deploy tailored strategies to each property to achieve the hotel’s true potential.”
Global Asset Solutions is the largest independent asset manager in Europe, Middle East, Asia and the Pacific, including award-winning upper luxury hotels such as the Rosewood Phnom Penh and the Four Seasons Madrid.
Recent additions have included a portfolio of nine hotels in the Middle East in mid 2023 meant the addition of spectacular hotels under the W, Ritz Carlton, JW, Intercontinental and Alila brands.
The company has also added to its team, with the appointment of Juan Manuel Gea as corporate business manager and Jordi Izquierdo as hotel asset manager.
Sogno added: “We are thrilled to be expanding our team and adding valuable experience to our offering for investors. As we continue to grow we will continue to demonstrate the advantage of an asset manager that is independent, specialised and global”.
