Life House, a management company for independent hotels, has launched a formal referral programme to reward industry stakeholders with up to $50,000.
If an introduction results in Life House signing a hotel management agreement, Life House will provide a one-time reward in the amount of 0.5% of the last twelve months (LTM) revenue for existing operating hotels, or 0.5% of projected year one revenue for new builds or hotels that will undergo renovation.
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The programme only applies to independent hotels with between 15 and 200 rooms and annual revenue of more than $1m.
It requires an introduction to the existing hotel owner or prospective hotel purchaser, or to an off-market acquisition opportunity.
For owners, Life House will operate the property as-is without requiring any capital expenditure and will provide in-house design and development services to renovate the property before commencing operations.
Life House founder and CEO Rami Zeidan commented: “We’re committed to our mission of helping not only independent hotel owners, but the industry as a whole. We understand that the hotel industry is small and while most of our friends, broker partners etc make referrals out of the goodness of their hospitality spirit, we wanted to be proactive to reward those who may be going through a dry patch in this economic environment.”
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By GlobalDataHoteliers are currently grappling with bankruptcies, foreclosures and loan restructuring as market conditions make it difficult to meet their loan obligations.
Life House’s management services and software solutions are leveraged across a portfolio of more than 100 properties ranging from select service hotels, lifestyle motels, luxury hotels and those affiliated with membership platform Leading Hotels of the World.
