Colliers, Al Tamimi introduce hotel health check service
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Global real estate services Colliers International has partnered with Al Tamimi & Company law firm to launch a joint initiative aimed at offering a hotel health check service across the Middle East and North Africa region.
The service will provide hotel owners and banks with a critical commercial and legal overview of the hotel assets and underlying business structure. It includes a high level review that will analyse performance and valuation of hotel assets, financial indebtedness, existing corporate and asset ownership structures, management agreement key terms, critical third party contracts, and particular risk areas.
The findings of the review will be included in the Advantage Report, which aims is to provide the owner or lender with a commercial and legal strategy framework for implementation, designed to drive enhanced profitability and reduce risk exposure within a competitive market.
“The hotel sector across the region has seen a significant improvement on its position following the economic slowdown,” said Filippo Sona, Colliers International's Head of Hotels and Resorts.
“However, with large hotel supply pipelines across borders and source markets volatile economies, many assets are achieving below benchmark profitability with current market conditions," Sona noted.
Al Tamimi & Company has offices throughout the UAE in Dubai, Abu Dhabi and Sharjah and in Qatar, Iraq, Saudi Arabia, Jordan and Kuwait.
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