SORTIS Hospitality is a hospitality asset management company based in Bulgaria. It is a Joint Venture between SORTIS Group and Tracklayer and is established to address the needs for professional management of business and leisure tourism assets in South-Eastern Europe.
Our aim is to turn around the performance and make the hotel a profitable and self-sustainable business and, where applicable, enable a viable and profitable exit from the investment.
Our clients are the owners of business hotels, leisure hotels and other leisure centres looking to improve the financial results of their properties and to increase their value.
SORTIS Hospitality’s successful model:
- Sustainable relationships with international hotel brands
- 100+ years combined track record in hotel management and operations
- Capability to discover weak hotel operational performance and turn properties around, achieving and exceeding industrial benchmarks.
- Interim management of hotels and resorts
- Long-lasting relationships with domestic and international travel and tourism industry partners
- Market position assessment of hotel properties, re-positioning and assuring positive market response
- Strong financial background of the team, including business planning and forecasting, financial modelling and reporting
- Asset management supervision on behalf of the hotel owner
- Focus on Return on Investment and sustainability
When SORTIS Hospitality takes over the management of an asset, it introduces the world’s best professional practices in hospitality management in all fields, incl. sales and marketing, operations, logistics and internal controlling. Hotel branding may also be used in order to improve the asset’s profitability, where appropriate.
We assess the current situation, in order to determine the most appropriate development strategy for each of the hospitality assets to be managed by our team.
Based on this, SORTIS Hospitality develops a road map and decides ongoing steps to help its clients improve their return on investment.
SORTIS Hospitality’s aim is to turn around the performance and make the hotel a profitable and self-sustainable business and, where applicable, enable a viable and profitable exit from the investment.
SORTIS Hospitality is focused on providing asset management services in the hospitality industry in South-Eastern Europe, with an emphasis on Bulgaria.
Our core competencies include:
- Hotel Asset Management
- Hotel Management Turnaround
- Market Positioning
- Operational Analysis and Assessment
- Financial Analysis
SORTIS Hospitality Objectives: to operate and manage the Hotel assets in a feasible manner and in the best interests of the Owner, bringing the property to self-sustainability.
Immediate Asset Management
- An assessment, concerning the property itself, and the equipment and fit-out available in the Hotel;
- A budget for the Hotel operations, including a list of the minimum necessary CAPEX activities, which have to be undertaken;
- Purchase list of consumer articles.
Branding: Management-, Franchise-, or other widely similar contract negotiations
- Maintaining the frame of the signed terms;
- Revision of fees and the pre-opening budget;
- Keeping the Owner’s best rights to sell the property;
- Benchmarking the proposed business plan;
- Negotiation of regional exclusivity rights for the owner with regard to the brand’s own expansion;
- Negotiation of preferred returns for the Owner;
- Harmonizing the operator’s CAPEX budget before signing the management, franchise, or other contracts.
SORTIS Hospitality serves the following market segments:
- City and business hotels of any size, subject of being in a situation and in location which allows us to bring an international brand to the property
- Leisure hotels and leisure hotel-apartment complexes
- Mixed-use (leisure, conference and sport oriented) hotels and hotel-apartment complexes
- Medical tourism and rehabilitation facilities
- Regional clusters of hotels, including ones of different ownership
- Campsites which can be upgraded to European (ADAC) standards
- Accommodation and service installations of golf clubs and marinas (leisure and yacht ports).
SORTIS Hospitality’s team has long-time experience in the following activities:
- Hotel openings and management (majority branded properties)
- Operations and management training
- International hotel branding
- Real estate investment
- Asset management
- Finance and credit management
- Integrating resort operations into tour operator programs
- Management consulting
Martin Paev, CFA
Mr. Henning Krippendorff
Mobile: +359 88 50 50 200
Mobile: +359 88 66 06 261
Tel: +359 2 943 90 70