hospitality development & management
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
our roots Since 1983, our company has successfully developed, managed, and owned hotels by operating on three essential pillars that drive return on investment. These pillars are: (i) leadership through innovation; (ii) achievement with a world class team; and (iii) growth through strategic partnerships. Today, LTD Management Company, LLC is nationally recognized as a leader in the hospitality industry by institutions such as Marriott, Hyatt, Hilton, Starwood, and Intercontinental Hotels Group.
Leadership through Innovation Growing a $20,000 investment into a portfolio of $500 million in hospitality assets took calculated, daring leadership. Founders Dilip Desai and Hari Thakkar took calculated risks to develop hotels in markets ignored by the majority of the hospitality community. Those risks paid off. Over the past ten years, their sons have put their own innovative brand of leadership on the company by being first movers and developing new emerging lifestyle brands from Starwood and Hyatt. LTD’s dynamic leadership structure enables the company to navigate the cyclical nature of the industry.
Achievement with a World Class Team Understanding that they could not get reach their goals on their own, Desai and Thakkar have assembled a top notch team of associates committed to spreading the family’s values and driving results at the guest, investor, and Company level.
Growth through Strategic Partnerships Rounding out the pillars, the Company has strived to collaborate with top notch partners who share LTD’s vision of developing and managing quality hotels. Desai and Thakkar understand that growth and success require a team approach, which is why the Company brings transparency and trust to each partnership for “win-win” relationships.
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
SpringHill Suites by Marriott | Hampton , VA
“We began LTD with the goal of achieving the ‘American Dream’ through hard work, clever planning, and maximizing return on investment. Now, with the added leadership of our sons and a team of talented associates, we aim to further our collective dream by expanding our company’s footprint on a national scale while helping our partners, investors, and communities in which we do business achieve their goals.”
Hari Thakkar and Dilip Desai Senior Managing Partners & Co-Founders of LTD Management Company, LLC
cultivating OPPortunities LTD’s tremendous success can be traced to its access to deal flow and sound project approach. Every step in the development process has close owner involvement, construction management expert oversight, and operations expert input programmed in it with one overarching philosophy: to create long term value for all of LTD’s key partnerships.
Eyeing an Opportunity Through a strong network of partnerships, LTD has unique access to a pipeline of deals throughout the United States. Be it new development or an acquisition opportunity, LTD can quickly analyze a deal for its viability based on more than 25 years of experience evaluating deals.
Calculating Risk After an opportunity passes initial muster, the LTD development team initiates a thorough study of the subject market, gathering all essential data to form a profile of the market. All data runs through our internal analysis models to confirm a project’s viability. Complimented by a third party feasibility study, the development team takes all conclusions of analysis to identify the brand, design features, and amenities unmet in the potential market.
Developing & Delivering Quality The layers of quality control are multi-fold beginning with an owner review process to ensure a comprehensive, cost efficient building design. Design input from key management personnel ensures that cost savings continue from construction to the day that the asset is handed over to the management team. Expert construction managers ensure the design is executed with the utmost efficiency and quality while managing an ever-shifting construction schedule to a deadline.
LTD was awarded the Marriott Award for Design and Construction Excellence for the Courtyard Newport News Airport and the SpringHill Suites Norfolk/Virginia Beach. This prestigious award is only given to one hotel of each brand per year.
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
Sheraton & westin BWI Located two miles from the BWI Airport, the Sheraton and Westin BWI sit on a parcel assembled from 6 individual residential lots requiring significant cost work. During development, LTD negotiated with state, local, and Amtrak authorities to secure easements. Over 3,000 linear feet of sewage was constructed to the site.
Results • Cost Integrity Maintained • Development Efficiency - The project took 4 years from site selection to opening. • Brand Relationship - LTD was a first-mover in showcasing Starwood’s new prototypes for the Sheraton and Westin.
Residence Inn’s .33 Acre Lot
Residence Inn DOWNTOWN NORFOLK Uniquely situated on an one-third acre of land in downtown Norfolk, the Residence Inn by Marriott is a 9-story custom design hotel. LTD faced limited storage space, offsite utilities, and signage visbility due to the parcel’s urban location. The highrise successfully opened on-time and on-budget.
Results • Completed On-Time and On-Budget - The development cycle took approximately 3 years. • Custom High-Rise - The 160 key, 125,000 sq. ft. hotel has custom designed furniture and fixtures, lobby, and rooms.
REAPING WHAT Maximizing returns through efficient With over a quarter of a century of experience managing hospitality assets, LTD is a trusted and recognized operator of both full and limited service hotels. The founding partners, Hari Thakkar and Dilip Desai, set the culture with family values for the company when they began in 1983 by instilling a sense of doing whatever it takes for the benefit of the entire LTD family. Today, the LTD family includes not only the Desai and Thakkar families, but also every hotel guest, LTD associate, LTD partner, and surrounding community where LTD does business. Our strength in hotel management lies in our associates, which are driven by the culture set by the founding partners. LTD is ranked as a top 100 hotel management company and is consistently recognized by the top hotel brands as an excellent hospitality management group.
The Residence Inn Chesapeake achieved a RevPAR index of 189.1% for the first quarter of 2009, one of the worst periods of business in the hospitality industry.
LTD was twice selected for IHG’s most prestigious award, the Torchbearer Award, out of nearly 4,000 properties worldwide for excellence in management.
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
YOU SOW management Sales & Marketing
OPERATIONS
LTD’s regional sales managers are market and segment experts. Our feet-on-the-street approach ensures we are preferred accommodations for travel agencies, local corporations, and other top clients. Our aggressive sales strategies and superior client support drive top-line sales no matter the location or market condition. In addition, we offer centralized marketing services to support our diverse brands and markets. The marketing team is deeply integrated into the revenue and sales structure to deploy innovative and effective marketing campaigns.
Our team maximizes profitability through sustainable business practices and effective cost control. Team leaders manage properties based on region to ensure tailored attention to margins, service levels, and physical asset maintenance. Thanks to the superbly trained and talented associates, LTD has navigated through tough times of market volatility and remained profitable through national crises such as after the attacks of 9/11.
Revenue
The finance and accounting team is committed to a highstandard of transparency and integrity by adhering to a strong code of ethics. Value is created through accountability, and LTD now operates more than $500 million in award-winning assets. LTD partners with the world’s most reputable financial institutions and lenders to build premier real estate in high barrier-to-entry markets.
LTD utilizes a centralized revenue management service to provide support to our entire portfolio. Our in-house team liaises with each brand and works closely with sales and marketing to identify successful pricing and inventory strategies. They utilize a mixture of revenue channels from brand call centers to online travel websites to maximize revenue and discover new opportunities.
legal LTD Management Company advises each hotel on planning and zoning, brand and franchise contracts, and labor and employment laws. We provide objective, pragmatic advice to help our managers make sound decisions.
ASSET MANAGEMENT Day-to-day operations is a full-time job that often leaves little room for in-depth analysis to identify the larger, more strategic opportunities. Our asset management focus goes far beyond today or next month’s financial statement, with ongoing strategic benchmarking and asset planning that allow us to continually gauge performance against the top industry leaders.
financing
technology LTD Management invests in a solid technological infrastructure to stay competitive in today’s fast-paced environment. We integrate multiple hardware and software platforms to analyze our hotels’ performance and identify new opportunities. LTD Management uses the latest mobile and collaboration technology to stay wired to our associates and guests at every moment of the day, and to provide key back of the house reports to gauge performance at any moment in time.
Human Resources The heart of LTD’s success is a relentless pursuit of excellence carried through all levels of the organization. LTD is devoted to recruiting top talent both inside and outside the hospitality industry while maintaining high associate satisfaction scores and low turnover. In 2008, LTD was named as a Best Place to Work by Inside Business Magazine. LTD’s corporate social responsibility department organizes community fundraisers and events to give back to the communities where we live and operate.
GROWTH THROUGH LTD Management partners with qualified investors, capital providers, developers, and brands to maximize return on investment. Our company has developed, managed, and owned assets branded by the foremost hospitality companies in the world for over a quarter of a century. Our value lies in the fact that we are a preferred developer and operator of a variety of top brands, so we have flexibility when we enter any market space. Additionally, we have formed strategic ties with master developers and cities alike in order to deliver a quality product in high barrier to entry markets.
LTD was awarded the Marriott Partnership Circle Award, one of the highest honors awarded by Marriott, for its outstanding performance as a partner with Marriott.
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
aloft by W Hotels | Bolingbrook, IL Development with Forest City Enterprises
partnerships “I hope you know you are a most valued member of Norfolk’s business community. Together, as partners, we have shown what is possible when the right people, with the right commitment, and a vision of creating quality facilities and services, can accomplish.”
Paul D. Fraim Mayor, City of Norfolk
Hyatt Place | Richmond Airport, VA
Residence Inn | Downtown Norfolk, VA
Development with Forest City Enterprises
Development with the City of Norfolk
LTD Management
A World-Class Partner Partnering with LTD brings value to you. Our access to deal flow maximizes your opportunities. Our culture invokes trust for growth through long lasting partnerships. Our innovations make projects achievable. Our people create efficiencies by managing for profitability. We hope that you will join us as a partner as we make plans to grow aggressively in the years to come.
Residence Inn by Marriott Newport News Airport, VA
Courtyard by Marriott
Hilton Garden Inn
Newport News Airport, VA
Innsbrook Richmond, VA
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p
The Westin Baltimore Washington Airport - BWI
Westin Baltimore Washingon Airport - BWI Executive Boardroom
committed to excellence LTD Management Company is committed to the very best in guest service, development, and financial performance. Partnering with us is shaking hands with success.
LTD Management Company
H OTE L D E V E L OP M ENT & M a n a g e m e n t g r o u p 1564 Crossways Blvd, Chesapeake, Virginia 23320 T: 757 420 0900 F: 757 424 0541 WWW.LTDMANAGEMENT.COM