An International Hospitality Company operating in the USA, UK & Europe and Africa, Valor selectively pursues opportunities where the courage, skills, expertise and experience of its team can be applied to create value.
By seeking projects with financial, construction, development and/or operating challenges, or simply projects where previous poor management has diluted performance, culture and guest experience delivery, Valor is uniquely positioned to create value for investors and owners.
We chose the 'Valor' (Valour to our friends in the UK and Africa!) name as a true reflection of our personal and professional philosophy. Acknowledging that many hotel owners have simply fallen victim to either the Great Recession and the resulting unprecedented downturn in the real estate market, or victim to absent leadership and complacency, Valor Hospitality employs a "White Knight" strategy versus traditional "vulture" investment. In particular, Valor actively pursues win-win transactions, where an infusion of high energy, focused & engaged management in all facets of the business ensure the property takes its place amongst the competiton as a winner. In some cases, through fresh investment capital and their operating management skills, Valor can bring a property back in compliance with prudent loan-to-value and debt service coverage ratios and also fund improvements needed to revitalize the property.
Our logo, the legendary Scottish thistle, is a symbol of our cultural heritage, representing courage in the face of adversity and our willingness to take on the most difficult challenges with a firm belief and proven track record showing our efforts will yield a positive outcome.
At Valor Hospitality Partners, our goal is to create truly memorable guest experiences through an operating culture of warmth, caring, passion and excellence, providing our guests an environment well beyond what they have come to expect.
We have built our reputation by focusing on two key fundamentals of hospitality:
Our relationships with our guests are 'emotional.'
Our relationship with our staff is 'cultural.'
Our goal is for guests to feel far better about themselves when they leave our property than they did upon arrival. Because we understand that all of our service interactions affect our guests' emotional state, we know that our cultural relationship with our staff extends directly to our guest experience. Consequently, we treat our staff as our most important asset, not an expense line on the P&L statement. Furthermore, by focusing on, and caring for our staff, we can demand more from them on the basis that everybody wins.
We look only for self-motivated and energetic team members with strong personality traits such as social awareness, enthusiasm, passion, honesty, energy, attitude, integrity and strong communication skills—not simply skill sets or experience, which in turn means that our teams take ownership and think in the best interests of their guests.
Success requires passionate people, and passion demands enthusiasm. Loyal team members create loyal guests, and loyal guests lead to superior returns on investment. While asset quality, property maintenance, and price/value offerings are very important in determining guest satisfaction, exemplary service and the human touch bring guests back time and time again.
Valor Hospitality Partners is a proven hospitality management company of alternative thinking enthusiasts, driven by excellence and achievement of top and bottom line targets. Our on-time/on-budget ethos, combined with our willingness to invest directly in projects where necessary, ensures we are aligned with owners and investors.
From this business perspective, our success metric is simple and defined as producing enhanced results—providing strong returns on investment and increasing asset value for our investors and owners. Results are delivered based upon hands-on, passionate leadership, a lean and efficient operational structure, outstanding sales, marketing & PR initiatives, targeted bespoke training programs of long-standing employees and detailed accurate, timely financial reporting. Through these objectives, the Valor teams take pride in delivering superior, re-imagined guest service experiences. These philosophies have resulted in multiple awards for development of hotels and resorts nationally and internationally, both corporately branded and independent. Our extensive experience with both franchised and independent hotels & resorts also uniquely qualifies us to assess the best hotel brand strategy for each project.
Valor Hospitality provides honest, hands-on experience developing hotels and resorts, both corporate and independent, which have been recognized as being in the best of their categories not only financially, but critically, from an exemplary guest experience perspective. Enjoying deep rooted relationships with globally leading hotel companies such as IHG, Starwood, Hilton & Marriott, Valor brings a unique perspective and sensibility on advising owners & developers of whether being independent or aligning with an award winning brand is the best choice for their project.
Our associates, who are culturally aligned with our values and brand of genuine hospitality, and who are service focused, are trained personally and professionally to execute an understanding that all service interactions are emotional connections with guests, and therefore each guest is viewed and treated as unique in nature. This is, quite simply the true essence of hospitality and an absolute to success. No scripts for us!
At Valor Hospitality Partners, passion for innovation and creativity in food and beverage are embedded in our DNA. We believe the food and beverage offering at our hotels and resorts is not merely an amenity that needs to be provided to our guests, but rather an integral part of the overall guest experience. Several of our senior executives have extensive knowledge and experience both developing and executing first class food and beverage programs at properties around the world. Headed up by our Michelin Chef, quality is paramount, where we endeavor to use only fresh produce supplied from locally sourced providers and farmers. Our culinary teams are inspired to showcase their creativity which in turn showcases their passion to our guests.
Our history has shown that our food and beverage experience drives higher guest capture, higher check averages and generates profitability, often not the case in competing our mainstream hotels. We believe that focusing on the quality of product, robust training programs, and most important, encouraging creativity yields a successful food and beverage operation in every market.
Valor Hospitality Partners is a full service hotel development company offering an array of services including:
- Site selection
- Product selection (brand or independent) Entitlements
- Financing solutions
- Conceptual design
- Construction and project management
- Technical services
- Pre-opening hotel management and operations management
Valor Hospitality is unique insomuch that we provide turnkey solutions, with the capability to address a wide array of project scenarios, including working with new or existing ownership groups on reviewing site selection, assessing feasibility studies and project budgets, compiling project budgets and underwriting. We take a hands-on role in all aspects of hotel development. Our active involvement in the details and through our extensive and deep-rooted relationships with the best vendors and service providers ensures total quality management and on time, on budget performance.
As a comprehensive services provider, Valor Hospitality Partners can also plan and oversee the refurbishment and renovation of existing properties and assist ownership in positioning.
With extensive experience in both the development and management of independent and branded hotels, Valor can provide an unbiased and thoughtful approach to the merits of remaining independent, finding and securing a brand or re-branding and re-positioning. These skillsets are particularly relevant for distressed and underperforming hotel assets.
Valor is also uniquely qualified to develop a property revitalization strategy which not only delivers the maximum operating performance, but also takes into consideration the optimal financial structure to maximize return on investment.
Unlike most traditional hospitality management companies, Valor Hospitality Partners' extensive background and expertise in capital markets gives us unique insight to address property level capital requirements as well as operating issues.
We can act as a deal sponsor and operating partner and will consider investing our own capital where appropriate. We can also assist existing ownership in developing and implementing restructuring and/or refinancing strategies.
Over the years, our principals have completed capital transactions representing more than $4 billion in aggregate value, and we have an extensive network of investment capital providers including leading lending institutions, private equity firms, hedge funds and family offices.
Valor principals have also acted as asset managers for a commercial real estate investment portfolio comprising approximately $600 million in total assets, including hospitality, office, retail, industrial and parking. In addition, over the past ten years our principals have completed 44 real estate financing transactions representing $634 million in aggregate transaction value.
Valor Hospitality Partners' unique combination of operating experience, construction/development expertise and financial analysis provides a distinct advantage in underwriting hotel projects, from ground-up hotel developments to acquisitions and renovation.
We are highly selective on the projects we elect to undertake, ensuring that our projects achieve an attractive cost basis, realistic performance objectives and a conservative capital structure. Our underwriting incorporates extensive market research and location analysis in addition to a detailed review of cost assumptions underlying project improvement plans (PIP's).
We actively seek out good properties with "bad balance sheets," realizing that operating distress is often precipitated by excessive debt or owners' inability to make the investments necessary to maintain asset quality and hotel brand standards.
We typically target properties with strong underlying fundamentals, including attractive locations, market-appropriate room mix, building/site layout to accommodate service amenities and quality of construction.
As a consequence of the Great Recession and the resulting financial crisis, real estate markets have experienced unprecedented levels of distress leading to record loan defaults. Over the past three years, Valor Hospitality Partners has developed a proprietary database of hospitality properties which have either defaulted on their loans or can be expected to default based on pending loan maturities and insufficient loan-to-value ratios.
Valor Hospitality’s principals also have strong relationships within the distressed real estate lending community, including special servicers, bank workout officers and the various brokerage firms that market distressed properties. Moreover, Valor Hospitality’s principals have participated in successful loan workouts with special servicers and bank groups and are therefore well-versed in the requirements necessary to successfully pursue distressed investment opportunities. Our longstanding relationships with leading legal advisers in the lending space also afford us unique access to investment opportunities as well as insights needed to navigate the intricacies of loan workouts and foreclosures.
With an extensive network of capital providers both domestically and internationally, Valor Hospitality Partners has the capability to pursue individual assets and portfolios. We maintain a constant dialog with local, regional and national lending institutions, including banks, insurance companies and CMBS lenders. Therefore, we have keen insight as to the type and amount of leverage appropriate for a given property, whether for construction, acquisition or permanent financing.
Our working relationships with leading distressed debt funds, private equity firms, family offices and REIT's also help us to best match the investment source with the property type. These relationships also inform our underwriting to accurately assess a property's valuation prospects upon stabilization and taking into consideration various hold periods.