We seek to achieve the highest and best use of all aspects of our properties. This may include developing or disposing underutilized space connected to our properties. We invest in large-scale redevelopment projects designed to increase cash flow and improve profitability by capitalizing on changing market conditions and favorable location of our properties. We also pursue meeting space and energy return on investments projects with targeted returns well in excess of our cost of capital.
- Leverage changing market conditions to improve positioning of hotels in their markets.
- Focus on increasing space profitability or lowering net operating costs; incorporate proven sustainability practices to improve environmental performance.
- Pursue opportunities that we believe present the highest and best uses of all aspects of our properties.
- Reevaluate and improve our existing portfolio by finding opportunities to create incremental cash flow and increase the overall investment value.
RENEWAL & REPLACEMENT CAPITAL EXPENDITURES
- Maintain the quality and competiveness of our properties; normal capital replacement of finishes.
- Examples of typical renovation work include: soft goods; case goods; bathroom; and infrastructure.
These flagship projects are pinnacle examples of how we put our strategy into action and strengthen our investor’s overall value.