Gaining a Competitive Advantage with Richfield Hospitality
Few companies have the financial strength and the market prowess like Richfield to sustain reasonable operating margins while leading their hotels to new profitability heights in a dynamically changing economic environment. We are clearly positioned as the industry’s leading hospitality management company with extensive revenue, profit, and asset enhancing services that directly benefit our clients.
We are experts in delivering top-line revenues while utilizing appropriate cost controls.
We quickly and successfully adapt to market conditions, retain exceptional talent, and apply efficient systems and processes that deliver strong results.
We are poised for aggressive strategic growth and offer flexible terms with preferred owner relationships.
Sceptre Hospitality Resources:
Sceptre is Richfield's strategic revenue and eCommerce solutions partner. Sceptre provides hotels with the technology, distribution, expertise, marketing, sales, and online-based operations enhancers to generate significant revenue streams, increase ROI, and improve profitability. There are no additional expenses for these Sceptre services or Profit Sword (web-based 24/7 daily financial operations reporting system) for Richfield clients since the cost is built into our base fees. All of Richfield's managed hotels have the benefit of Sceptre's services and resources as part of their contract.
Access to capital:
Richfield can provide up to 25% sponsorship equity for acquisitions and joint ventures with either existing owners or with capital partners seeking to acquire assets and/or re-capitalization opportunities. Fully-funded and with access to capital, Richfield is positioned to acquire assets 100%, create joint ventures, provide sliver equity, or execute pure management contracts. We carry no debt, and we have a solid history of strong cash positions. Potential clients respond positively to our ability to extend favorable and flexible business terms including minority investments, working capital loans, and other terms tailored to specific client projects and assets.
Asset recovery for distress properties:
Richfield has the ability to provide special services to clients and partnerships who have acquired ownership (whether permanent or temporary) of a distressed property. The deep discounts on quality assets and debt in the marketplace make future acquisition activity feasible.
Field support center:
We are known throughout the industry as a strong operator and as a full-scale organization with the unique ability to deliver highly focused attention on a client-by-client basis 24/7. Larger organizations are unable to deliver this level of customized service to their clients due to their lack of flexibility, resources, and bandwidth. Richfield offers clients significant benefits in the areas of field support, internal resources, and business intelligence due to our strategic alignment with Millennium and Sceptre. In early 2010, Richfield launched a Field Support Center able to provide these management and operations services to clients. We also offer Revenue Management for Hire services laser-focused on increasing your hotel’s RevPAR, profitability, and market share. Richfield is a proven revenue management company with the proficiency and resolve to enhance your hotel’s bottom-line.
Leadership bench-strength and team talent:
We continue to grow our leadership, development, and management teams with outstanding hospitality industry talent. The Richfield team is successful because of our people, processes, and technology. We are dedicated to creating and maintaining a high-performing culture grounded in values, integrity, fairness, and respect. Our multi-talented team of hotel experts creates ongoing value for our clients and addresses their specific needs by providing world-class hotel management and support services.
Reputation and the passion to operate profitably:
We know the nature of hotel capital and real estate markets, which is why our management philosophy is based on delivering owner profits and asset appreciation. We are experts in both cost controls and top-line management, which are core competencies we currently employ to maximize revenues. As a financially sound and established company, we are able to adapt and change according to the economic landscape of our marketplace. During previous economic recessions and market down-turns, Richfield has been successful at rebounding based on having this past experience to draw upon.
Rapid growth opportunity:
Richfield is poised for rapid growth and expansion. Richfield is actively seeking to take advantage of the current economic market conditions to acquire and invest in strategic hotel assets and portfolios. Our hotel management expertise and extensive field support services, including Sceptre Hospitality Resources, provide us with a compelling set of competitive advantages that directly impact and increase ROIC for our clients.
Our multi-talented team of hotel experts, combined with our field support resources, enables us to work across a mix of hotel segments: full service, select service, extended stay, independent, luxury, and boutique. We take a customized, strategic approach to managing each individual property in accordance with its immediate opportunities.