Active Ownership means taking
a vigorous role in overseeing the managing of the asset, such
as closely reviewing monthly statements, carefully tracking operating
trends both on a micro and macro level, searching for new ways
to generate additional revenues and income from traditional and
non-traditional sources, and finding operational synergies that
reduce costs. Successful Active Ownership can be accomplished
by maintaining an in-house staff with knowledge and expertise
in all aspects of hotel operations and investment strategy. A
more common and cost-effective solution is to use experienced,
outside hotel professionals to manage this process, an "asset
manager" who has the knowledge base and hands-on skills to
act on the owner’s behalf. Unencumbered by day-to-day operations,
an asset manager tries to anticipate and take advantage of short-
and long-term trends, to monitor and control costs, and to co-ordinate
property management activity to maximise owner returns.