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INTRODUCTION
The City of Topeka (City) seeks to contract with an Asset Manager to provide experienced hotel management, guide hotel strategy, and to oversee the hotel and Hotel Operator.
The City would charge an Asset Manager with four distinct roles:
A. To assist the City in crafting an overall strategy, including evaluating the recommendations of a third-party hotel feasibility study
B. To assist the City with identifying one or two target flags in the STR "Upscale" category and to negotiate with those entities (e.g., Hilton, Marriott, etc.) to secure a term sheet, committing to permit the property to develop with that flag
C. To assist with identifying and negotiating a contract with a hotel operator, which may be a large hotel management company associated with the flag (e.g., Sheraton Operating Corporation, etc.)
D. To perform ongoing asset management duties including developing strategy, overseeing the hotel management contract and monitoring hotel performance for the City
MINIMUM QUALIFICATIONS
A. Extensive experience serving as an asset manager for similar hotel properties
B. Extensive experience advising and executing on strategies to secure a hotel flag
C. Experience negotiating term sheets with various hotel flags
D. Prior experience working with public owners on hotel developments/redevelopments is preferred
SOFTHQ INC
