TA Europe delivered a TDD of an extraordinary historic hotel building in Nuremberg. The Le Meridien grand hotel was constructed in the late 19th century and consists of a rectangular shape with two interior courtyards around which the building’s interior rooms and corridors are arranged. The main entrance is located on the public road Bahnhofstraße. … Read more
TA Europe has an extensive track record in the hotel and leisure sector. In several transactions, of single hotels or pan-European hotel portfolios where we have provided TDDs for vendors or investors, we have been able to ensure that our clients could generate maximum value from the deal. This has been achieved through finding workable solutions for exceptional risks and managing potential ’deal breaker’ issues in a way that either a technical solution is developed to control the major risks or a smart capex plan is developed to cover for liability or higher expenditure in the future.
We find that common technical issues or risks in hotel transactions are commonly:
- Gaps in responsibilities for operation and maintenance between owner and operator
- Lack in maintenance or servicing caused by cost pressures and the need to ensure ongoing 24/7 operations
- Lack in fire protection or relevant permits
- Lack of transport capacities or efficiency of existing elevator systems
- Lack of capacities in heating and cooling to meet modern demands
- Structural issues with the facades
- Concrete defects and chemical attack to floors and columns to underground parking levels
- Compliance with local regulations
- Lack of investment ‘back-of-house’ due to long term prioritising on public (guest) areas
TA Europe has provided TDDs of hotels and leisure resorts across 14 countries in Europe, with specialist teams comprising senior property professionals with international hotel sector experience, as well as local experts, to deliver tailored solutions every time.
Our project and cost management teams have been involved in new build and refurbishment hotel projects. Very often, we are asked to support our clients in helping to remove the maintenance backlog of recently purchased buildings, managing the repair and refurbishment works as well as FF&E, OSE, upgrades and expansions. With the help of reliable cost benchmarks, we are able to set up a business plan for the project, which helps to generate more income and higher value for the hotel property.
TA Europe also understands the operational aspects of hotels and implements improvement of the asset performance and life cycle costs into the cost plans. We support owners in driving the operators to improve the maintenance and safety situation of any hotel and optimise the responsibilities defined in the lease and hotel management contracts.