Property snapshot, fast

• Tell us the snapshot of your property: number of rooms, class (select-service, full-service, lifestyle), current brand or independent status, and current management model.
• Which market or competitive set does your team benchmark most closely? Options: Local city comp set, Brand comp set, Corporate custom comp set, No formal comp set
• How long has your ownership held this asset? Options: Under 1 year, 1–3 years, 3–7 years, 7–15 years, More than 15 years
• What are the top two financial metrics your team watches for this asset? Options: RevPAR, GOP margin, ADR, Occupancy, NOI, F&B margin, Other
• Who on your team will be the primary contact for the management selection and who approves capex? Options: Asset manager / portfolio manager, VP Acquisitions, CFO / finance lead, Owner/operator (family office), Investment committee, Other

Where performance is actually failing

• Which single performance gap at your property (RevPAR, GOP, labor cost, guest satisfaction) would make you change managers immediately? Options: RevPAR under-index vs comp, GOP margin shortfall, Labor cost overrun, Guest satisfaction or NPS decline, Other
• How has that gap affected your property's NOI or any lender or investor covenants in the last 12 months?
• When did your team first notice this trend beginning? Options: Under 3 months ago, 3–6 months ago, 6–12 months ago, More than 12 months ago
• What internal fixes has your ownership tried, and what were the concrete results?
• Point to the operational area in your property you suspect is the root cause Options: Revenue management / pricing, Sales and marketing, F&B operations, Housekeeping / cleanliness, Engineering / capital backlog, Labor scheduling / payroll, Other

The one outcome that changes everything

• If you had to prioritize one outcome for your property over the next 24 months, would it be maximizing cash flow, reducing capital spending, or preparing the asset for sale? Options: Maximize cash flow and distributions, Reduce near-term capital spend, Stabilize and position for sale, Improve guest experience / brand positioning, Other
• Describe how achieving that outcome would change what you expect from a manager.
• In which timeframe do you expect to see measurable results for your target outcome? Options: 30 days, 90 days, 6 months, 12 months, 18 months or longer
• Specify the minimum performance improvement on the key metric that would make you sign a management agreement today (give a percent, dollar, or index change).
• Who on your team would hold a manager accountable to that target? Options: Asset manager, Portfolio director, CFO, Investment committee, Owner principal, Other

Transition risks that stop deals

• Name the single transition risk at your property that would stop any change in management. Options: Franchise or brand refusal, Lender consents not in place, Union or labor agreement barrier, Key vendor contracts non-assignable, Payroll or tax holdbacks, Other
• Estimate how soon loan, brand, or legal approvals would block a start for your property if not secured. Options: Immediately, Within 2 weeks, Within 30–60 days, Within 90 days, No blocking approvals expected
• Have you previously transitioned your property, and what lessons did your team learn that would change how you approach this one?
• List the largest staffing risks you expect during a transition at your property (key roles, potential turnover, union exposure).
• Identify any vendor contracts at your property that cannot be assigned without consent. Options: Housekeeping vendor, Food & beverage vendor, Security, IT / connectivity, Utility agreements, None identified, Other

Competitive landscape: who else could win this

• List the external and internal alternatives your team is actively considering, and name which one is most likely to win this deal. Options: Incumbent operator, National third-party manager, Regional independent operator, Switch to brand management, Self-manage internally, Other
• Describe the conditions under which you would choose to remain with the incumbent operator.
• Has anyone on your team proposed solving this without an outside manager, and what exact resources did that plan assume? Options: Use existing GM and team, Hire new GM and operate in-house, Add shared services from portfolio, No internal proposal, Other
• Rank the selection criteria that will outweigh fee in your decision (order by priority). Options: RevPAR performance, GOP guarantees, Reporting transparency, Brand relationships and approvals, Regional expertise and bench, Termination flexibility, Other

Practical gates and hard blockers

• Identify the single operational or contractual constraint that would stop a management transition from starting on your timeline. Options: Franchise approval, Lender consent, Payroll transfer issue, Vendor assignability, Data access restrictions, Other
• Select the core systems your property must integrate or hand over, such as PMS, RMS, POS, payroll, or HR. Options: PMS (property management), RMS / revenue management, POS / F&B systems, Payroll / HRIS, Accounting / ERP, Guest feedback / CRM, None
• Name the person or role on your side who owns system access and can approve transfers. Options: IT director, Property GM, Asset manager, Finance controller, Third-party IT vendor, Other
• Do you have an internal project manager assigned to lead the transition? Options: Yes, dedicated project manager, Yes, distributed responsibility, No, not yet assigned
• Give the earliest practical start date your team can support given approvals. Options: Immediately, Within 2 weeks, Within 30 days, Within 60–90 days, More than 90 days

Fees, incentives, and deal economics

• Point out any fee structure that would make your ownership walk away immediately. Options: Base fee above acceptable threshold, Uncapped penalties or long minimum term, No performance alignment, Hidden escalation clauses, Other
• Explain how your team weighs realized GOP versus RevPAR when negotiating fees and incentives.
• Are you open to incentive compensation tied to specific GOP or RevPAR thresholds? Options: Yes, GOP tied, Yes, RevPAR tied, Yes, blended GOP/RevPAR, No, prefer flat fee
• Provide the monthly reports and data your team requires for fee reconciliation and performance verification. Options: Monthly operating statements, Daily RevPAR reports, Payroll and labor reports, Guest satisfaction scorecards, Capex reporting, Other

Next steps that actually move the deal

• Outline the concrete milestones in the next 30 days that would lead your team to sign a management agreement.
• Provide the decision makers who must sign off and the typical approval lead times for each. Options: Owner principal, Investment committee, CFO, Legal counsel, Lender / trustee, Other
• Select the documents or datasets your team needs to speed the decision, for example financials, guest data, or vendor contracts. Options: Last 12 months P&L, Daily RevPAR by segment, Capital plan and backlog, Vendor contracts and assignability, Employee roster and payroll, Guest satisfaction history, Other
• Are there any outstanding site visits, audits, or approvals your team plans to complete before signing? Options: Property site visit, Operational audit, Brand inspection, Lender walkthrough, None planned
• Would your ownership consider a short pilot or interim management period while final terms are negotiated? Options: Yes, short pilot (30–90 days), Yes, interim management (contracted term), No, prefer direct start under full agreement, Unsure
• If a short pilot proves the performance, what would stop your team from signing that week?

• Management Approach Review

• Confirm the current state and its cost
• You confirm that the proposed KPIs and thresholds reflect your priorities and can be used as the basis for measurement.
• Provide the last 12 months of monthly P&Ls, occupancy and ADR by segment, and the competitive set index for modeling.
• Deliver a tailored operational plan with modeled RevPAR and GOP projections within five business days after receiving the requested data.
• Translate priorities into measurable KPIs and thresholds
• You confirm the proposed reporting cadence and templates provide the visibility needed for investment and operational decisions.
• Walk through the proposed operational plan
• You identify any remaining analysis or evidence required before a decision to proceed with the proposed plan.
• Confirm the attendees required for the decision review and schedule the follow-up review to present the tailored plan.
• Run a scenario to prove impact on RevPAR and GOP
• Confirm reporting templates and metric ownership
• Validate alignment

• Management Approach Review — Solution Experience
• Management Approach Review Deck
• Management Approach Solution Brief

• meeting
• slides
• document

• Front Desk and Guest Services Operations
• Housekeeping Operations and Turnover Management
• Food & Beverage Outlet Operations and Cost Control
• Revenue Management and Dynamic Pricing Execution
• Sales, Catering, and Group Contract Management
• Engineering, Preventive Maintenance, and Energy Management
• Staffing, Recruitment, and Labor Cost Management
• Monthly Financial Reporting and Owner Operating Statements
• Capital Expenditure Project Execution and Vendor Procurement
• Brand Compliance Management and Brand Relations Support
• Independent Positioning and Marketing for Unflagged Assets
• Pre‑Opening Activation and Soft‑Opening Operations
• Transition and Change‑of‑Operator Implementation
• Third‑Party Vendor Sourcing and Contract Administration
• Guest Loyalty and Reputation Management Operations

Front Desk and Guest Services Operations

• Do you require front desk coverage 24/7 or limited hours for check-in and night audit? Options: 24/7, Daytime only, High-season 24/7 / Low-season limited, Other
• Who will be the primary contact for reservations and VIP arrivals coordination during the management term (role or title)?
• How will you expect us to integrate with your property management system (PMS) for guest folios, no-shows, and room moves (PMS API, nightly exports, manual entry)? Options: PMS API integration, Nightly data export/import, Manual entry only, Other
• When do you require guest payment reconciliation and credit-card batching to be completed after checkout? Options: Same day, Within 24 hours, Within 72 hours, Other
• Identify the front desk devices and systems that must be supported at go-live (POS, key-card encoder, door lock integration, payment gateway). Options: Point of sale (POS), Electronic key encoder, Payment gateway/terminal, Door lock integration, Self check-in kiosk, Channel manager

Housekeeping Operations and Turnover Management

• Do you have standardized room attendant productivity targets we should enforce (for example rooms per hour)? Options: Yes, No
• Specify the room-turnover standards you want applied for same-day departures and mid-stay cleans (minutes per room or rooms/hour).
• List the par levels and linen replacement cycles we must maintain in the FF&E and consumables register.
• Provide the tracking method you prefer for housekeeping inspections and lost-and-found (housekeeping app, PMS checklist, paper forms). Options: Housekeeping app, PMS checklist, Paper forms, Other
• Confirm the acceptance threshold you expect for room readiness during soft-openings (for example percent of inspected rooms meeting standards). Options: >=95% pass on pre-arrival inspection, >=90% pass, Custom threshold

Food & Beverage Outlet Operations and Cost Control

• Do you plan to operate food and beverage outlets year-round, seasonally, or with a staged soft-open schedule? Options: Year-round, Seasonal/limited hours, Soft-open initially then scale, Other
• Who will set outlet operating hours, menu pricing, and food-cost targets tied to GOP performance?
• How will you require POS and inventory controls to be integrated for daily food cost reporting (real-time POS feed, nightly export, manual entry)? Options: Real-time POS integration, Nightly export/import, Manual reporting, Other
• When do you expect weekly outlet profit-and-loss snapshots and daily cost-of-sales reporting to be available? Options: Daily cost-of-sales + weekly P&L, Weekly P&L only, Monthly reporting only, Custom cadence
• State the procurement and receiving requirements for perishables we must follow (approved vendor list, cold-chain receiving windows, inspection hold times).

Revenue Management and Dynamic Pricing Execution

• Do you require a fully dynamic revenue management approach or a managed pricing ladder with owner approvals? Options: Fully dynamic (RMS-driven), Managed pricing ladder with manual override, Hybrid
• Who will approve the competitive set (comp set) and market segments for RevPAR index benchmarking?
• How frequently should rate recommendations and pickup forecasts be published (daily pick-up, weekly forecast, 30-day outlook)? Options: Daily, Weekly, Monthly, Ad-hoc on request
• Identify distribution channels and any channel restrictions you require (OTAs, GDS, direct-only promotions, third-party wholesalers). Options: OTAs, Global distribution system (GDS), Direct website, Wholesalers/consortia, Corporate negotiated
• Indicate the KPI thresholds you want the revenue team to target (for example RevPAR index, ADR bands, occupancy targets).

Sales, Catering, and Group Contract Management

• Do you want an on-site sales team, regional sales support, or a centralized sales function for group business? Options: On-site sales, Regional sales support, Centralized (remote) sales, Hybrid
• Provide the contract templates or clauses you require for groups and catering (attrition rules, deposit schedules, banquet event orders).
• Who will have authority to approve negotiated concessions or commission changes for group contracts?
• How should meeting attrition and cancellation be enforced in agreements (percentage of pickup, flat fee, sliding scale)?
• Confirm the evidence you require to accept a group's readiness prior to arrival (signed contract and cleared deposit, plus finalized banquet event order). Options: Signed contract + cleared deposit + BEO, Signed contract + cleared deposit, Signed contract only

Engineering, Preventive Maintenance, and Energy Management

• Do you have an existing preventive maintenance schedule or asset register we must adopt and update? Options: Yes, existing schedule, No, need creation
• Name the critical building systems that require priority in maintenance planning (for example HVAC, boilers, elevators, kitchen equipment, pool systems). Options: HVAC, Boilers/boiler plant, Elevators/lifts, Kitchen equipment, Pool systems, Other
• How will you measure energy performance targets for the asset (kWh per available room, water per occupied room, BTU metrics)?
• Where will we record work orders and preventive maintenance activity (CMMS, PMS, spreadsheet) for owner visibility? Options: Computerized maintenance management system (CMMS), PMS work order module, Shared spreadsheet, Other
• Under what contractor procurement rules should capex-related trade work be run (owner-sourced, manager-sourced with owner approval, competitive bid)? Options: Owner-sourced, Manager-sourced with owner approval, Competitive bid required, Prequalified vendor list

Staffing, Recruitment, and Labor Cost Management

• Do you want the manager to handle full recruitment, payroll transfer, and onboarding or to provide staffing plans only? Options: Full recruitment + payroll transfer, Staffing plan only, Recruitment with owner HR oversight, Other
• Specify department-level labor cost targets you expect (for example F&B labor % of revenue, housekeeping cost per occupied room).
• Who will be responsible for payroll remittance, benefits, and workers compensation administration after transition?
• Describe the pre-hire checks and compliance items you require before staff start (background checks, right-to-work documentation, certifications).
• Indicate the staffing readiness metrics you require at go-live (number of hires, completed trainings, payroll set up).

Monthly Financial Reporting and Owner Operating Statements

• Select the delivery cadence and method for owner operating statements and monthly P&Ls (secure portal delivery within a set number of days after month end). Options: Monthly within 5 business days, Monthly within 10 business days, Monthly within 20 business days, Quarterly
• Provide the required line items and level of detail for monthly reports (departmental revenues, departmental expenses, undistributed operating expenses, GOP, NOI). Options: Full departmental P&L, Summary P&L with attachments, Custom chart of accounts mapping
• Confirm the acceptance criteria that will validate each monthly operating statement (delivery timeframe plus variance explanations for line items exceeding a specified percentage). Options: Delivered within timeframe and variance explanations for items >5%, Delivered within timeframe and variance explanations for items >10%, Custom
• Who will be the authorized recipient(s) for accounts payable approvals and monthly reconciliations on the owner side (role or title)?
• Indicate the accounting system or chart of accounts we must align with for financial consolidation and owner reporting.

Capital Expenditure Project Execution and Vendor Procurement

• Do you have an existing capex reserve schedule or FF&E lifecycle plan we should execute or revise? Options: Yes, full schedule, Partial schedule available, No, need to create
• Specify approval thresholds that will trigger owner sign-off for capex (for example projects over $10,000 require owner approval). Options: >$5,000, >$10,000, >$25,000, Custom
• Who will provide funding and payment terms for capex projects (owner-funded, manager-managed draw with owner funding, third-party financing)? Options: Owner-funded, Manager manages draws with owner funding, Third-party financing, Other
• How should vendor procurement for capex be conducted (single-source with owner approval, competitive bidding, or use of a prequalified vendor list)? Options: Single-source with owner approval, Competitive bidding, Prequalified vendor list, Manager recommends, owner approves
• List the deliverables you expect on capex completion for closeout (invoice, as-built photos, final lien release, manufacturer's warranties, updated capex register). Options: Invoice + as-built photos, Final lien release + warranties, Updated capex register, All of the above

Brand Compliance Management and Brand Relations Support

• Do you plan to remain flagged under a brand, pursue reflagging, or operate as an independent property? Options: Maintain brand flag, Pursue reflagging, Operate independent, Need brand decision support
• Provide the brand standards documentation and submission timelines we must follow (FF&E specs, brand tech specs, quality audit schedule).
• Who will own brand submission approvals and responses to brand queries during renovations or repositioning? Options: Owner, Manager, Shared responsibility
• Describe how deviations from brand standards should be handled and documented (waiver requests, remediation plans, deadlines).
• Indicate the audit cadence the brand requires and how we should deliver corrective action plans (monthly quality audits, annual inspections, ad-hoc). Options: Monthly audits, Quarterly audits, Annual inspection, As required by brand

Independent Positioning and Marketing for Unflagged Assets

• Do you want a standalone marketing strategy for an unflagged asset or to use existing distribution and partnerships? Options: Standalone marketing strategy, Use existing distribution, Hybrid approach
• Identify the marketing KPIs you want prioritized for independent positioning (RevPAR index, direct revenue %, website conversion rate). Options: RevPAR index, Direct revenue %, Website conversion, OTA mix
• Who will approve creative assets and channel content (website copy, photography, OTA content) before distribution?
• Describe the guest segmentation and packages you want targeted (corporate rate, weekend packages, group/catering offers).
• Indicate which channels you require for marketing and booking support (direct website, OTA marketplaces, corporate sales, local partnerships). Options: Direct website, Online travel agencies (OTAs), Corporate sales, Local partnerships

Pre‑Opening Activation and Soft‑Opening Operations

• Do you require a detailed pre-opening Gantt with milestones, owners, and owner checkpoints prior to soft-opening? Options: Yes, detailed Gantt, High-level timeline only, Owner will provide Gantt
• Select the soft-opening occupancy ramp you prefer for the initial 30 days (reservation cap strategy). Options: 20% of capacity, 50% of capacity, Gradual ramp with owner-approved targets, No cap
• Who will approve final pre-opening training completion evidence (training logs, mock service nights, role competency sign-offs)?
• Describe the system integration tests that must pass before opening (PMS reservations flow, POS transactions to accounting, payment gateway test).
• Provide the operational readiness checks you require before commercial opening (operational walkthrough checklist, engineering commissioning, full-service mock nights).

• Management Agreement
• Operational Statement of Work (SOW)
• Transition Services Statement of Work (SOW)
• Fee Schedule & Billing Addendum
• Performance Incentive Addendum
• Termination & Transition Addendum
• Insurance & Indemnity Schedule
• Data Access & Reporting Agreement
• Power of Attorney for Operational Transfers
• Parent Guaranty (conditional)

• Go-live Health Check
• First Performance Measurement
• 90-Day Acceptance Gate
• Quarterly Performance Review

• Confirm the dashboard data ownership and schedule automated reports for the next review cycle.
• Produce a short diagnostic memo linking each out-of-target metric to root cause evidence and proposed fixes.
• Update the performance dashboard data feeds to ensure the acceptance gate has validated sources.
• Schedule targeted operational follow-ups for staffing or rate strategy changes and record expected impact dates.
• Restate acceptance criteria from Management Scope & Deliverables
• Produce a documented acceptance decision against the numeric targets recorded in Management Scope & Deliverables.
• If any criteria fail, agree a bound remediation plan with owners and resolution dates that closes by a specific recheck date.
• Confirm the incumbent has been decommissioned or the retained-read-only status and that data handover is complete.
• Publish the acceptance decision document with the pass/fail status for each criterion and the named approver.
• If applicable, produce an incumbent wind-down certificate showing contract status, data archive location, and access controls.
• Create a remediation tracker for any failed criteria with owners, milestones, and a fixed recheck date.
• Trend review for RevPAR index and GOP margin
• Confirm whether RevPAR index, GOP margin, and guest satisfaction are sustained at or moving toward targets recorded in Management Scope & Deliverables.
• Surface persistent operational blockers and agree a prioritized action plan with owners and milestones for the next quarter.
• Validate the reporting cadence and data sources that will be used to track progress between reviews.
• Publish the quarter performance brief with trend charts and the prioritized actions list within three business days.
• Update the enhancement backlog with agreed priorities, estimated impact, and target delivery quarters.
• Reconfirm success criteria and owners
• Confirm named owners for all operational roles and that critical system access is validated.
• Create a prioritized remediation list for open issues with owners and target dates covering the next 14 days.
• Agree a timeline and owner for the next performance measurement meeting.
• Publish the stabilized issues tracker with owners and target resolution dates within 24 hours.
• Confirm completion status of role-specific training and circulate the completion report before the first measurement meeting.
• Validate and document system access for payroll, reservations, and reporting endpoints.
• Recap agreed targets and data sources
• Determine whether RevPAR index and GOP margin are tracking toward the targets recorded in Management Scope & Deliverables.
• Identify root causes for any metric gaps and agree specific corrective actions with owners and deadlines.
• Confirm the measurement window and required evidence for the upcoming acceptance gate.
• Present outcome data against each criterion
• Guest satisfaction and service recovery trends
• Deployment and access validation
• Present first-period RevPAR index and GOP margin results
• Pass/fail determination per criterion
• Staffing and training status
• Labor productivity and cost review
• Review labor metrics impacting margin
• Incumbent wind-down and data handover verification
• Early operational signals and incidents
• Diagnose root causes for gaps
• Open issues and enhancement backlog
• Agree corrective actions and timelines
• Agree operational action plan and reporting cadence
• Open issues, owners, and remediation plan
• Formal acceptance decision and remediation plan
• Agree immediate 14-day actions