Hotel Turn Around Management & Operations
Sam Haigh, former President of Benchmark Hospitality and Danny Dolce, former Vice President, Dolce International, co-founded LaKota Hotels & Resorts to specialize in turning around under-performing hotels and resorts, through its operating and asset management platforms.
Together they provide hospitality turn around, operations and asset management services to Morgensheer Hospitality’s clients.
LaKota Hotels and Resorts’ principals and experts combined has generated over $1 billion in revenue for over 100 hotels, resorts and conference centers; many of them resuscitated distressed assets. LaKota brings direct hands-on management experience in all areas of hotel operations, thus understands the challenges faced by ownership.
LaKota is credited for the revitalization of the 917-room National Conference Center in Leesburg, Virginia, an under-performing asset purchased out of bankruptcy in March 2014. LaKota brought in new onsite leadership, reorganized the sales and marketing team, developed a limited capital improvement plan and infused a “whatever it takes” attitude. The result has been one of the fastest and most dramatic turnarounds in the history of the conference center industry.
Usage from the all group market segments is up double to triple digit percentages. In 18 months LaKota increased revenue 122% and took NOI from a negative to a positive 19% of the dramatically increased revenue. LaKota expects to increase revenue another 33% and the NOI another 72% over the next four years.
While the LaKota turnaround approach is specific to each asset, the overriding philosophy is to place strong, action oriented leadership at the property, bringing together a highly energized sales organization that far out performs the competition.
LaKota Asset Management Service maximizes cash flow to protect the economic value of ownership’s investment, providing guidance on day-to-day operations as well as evaluating investment strategies to ensure the optimum return on investment.