Big Picture Conferences (BPC) in conjunction with STAY Magazine is excited to launch its virtual information series tailored specifically for Canadian hotel owners of smaller owner-operated independent and branded properties.

Building off its successful annual Canadian Hotel Investment and Western Canadian Lodging Conferences, BPC has developed a four-part panel discussion series to address relevant issues impacting this distinct ownership segment within Canada’s lodging sector.

As a small business owner, you may not have the time and resources to travel to an in-person event. This virtual series aims to bring content experts directly to you on a quarterly basis in a forum that provides timely and insightful dialogue covering such topics as finance, operations and capital investment.

Each session will feature two professionally moderated 45-minute panel discussions with industry thought leaders from across the country. Registered attendees will have the opportunity to privately connect with panelists after the session. Please join BPC and STAY Magazine for its 2024 series:

Part One:

1. Find the Financing: Hotel debt is becoming increasingly available, albeit in this high interest rate environment. Understand the pace of financing activity and market terms for smaller hotel assets and how to best prepare for sourcing and securing debt for your own refinancing, capital projects or new acquisition needs. Learn what lenders expect within a cogent business plan and how to withstand their stringent underwriting practices.
2. Property Improvement Programs-Your Own or Theirs: No matter your size, capital investment is inevitable to remain viable long-term. And for branded hotels, franchisors have become increasingly demanding with their standards for extensively renovated hotels as they build brand awareness. How do you stretch each capital dollar to maximize your return on investment? Are there ways to mitigate the impact of ongoing inflationary pressures and supply chain issues? What resources are available to the small business owner looking to improve their property?

Part Two:

1. We Could Build Too: You’ve weathered the recent economic storms and have some capital set aside to grow your portfolio. Do you pursue a new build or acquire an existing property? Learn how your lender and equity are likely to approach their underwriting for new construction versus purchasing an existing going-concern asset.  What role can trusted advisors and partners—lawyers, accountants, appraisers, brands, designers and construction experts—help in developing the right strategy for you?
2. Hotel Operations-Do I consider a Third-Party Hotel Manager vs. an Asset Manager?: How much oversight does your hotel business require to satisfy not only your own objectives but also those of your brand, lender and investors? Are you looking for a short- or long-term commitment, and how could this impact your exit strategy? Is there proper alignment with your own business practices and vision? What are the main advantages and disadvantages between the two structures?

Part Three:

Best Practices for Buying and Selling Hotels: Building your network of trusted advisors—broker, appraiser, accountant and lawyer—is paramount to a successful sale. Learn how these professionals can help you prepare your property for sale and strategize on optimum timing and approach to align with your specific needs and maximize proceeds. Learn about proper disclosure and how to navigate buyer due diligence, along with general guidelines for deal structuring.

As an investor, having a trusted network of professionals is similarly important when buying a hotel. Do you have a full understanding of all physical, operational and financial aspects of the property? How do you assess and quantify potential capital needs, property tax implications, building repairs and environmental concerns? Do you have alignment with your lender, brand and/or manager? Is your equity confirmed for not only the purchase price but the all-in cost of the acquisition?

Part Four:

1. Determining Brand ROI: Brands provide diverse guest distribution channels, best practices for operations and access to leading marketing initiatives, but come with a cost not only in fees but also capital investment to meet brand standards. Can smaller hotel properties afford to be branded, or is it a growing necessity to remain competitive and meet lender requirements? Does the emergence of soft brands in recent years bring a new option to the table? Join this discussion as industry experts delve into the pros and cons of branding smaller hotel properties.
2. Maximizing Brand Relations: You’ve decided on branding your property…now what? How do you navigate the initial branding of your property and establish a healthy, ongoing relationship with your brand, those based in Canada and elsewhere? Learn best practices from both owners and representatives from the brands that provide ownership support services with the goal of providing operational efficiencies and mutually successful relationships.