Editorial Board   Guest Author

Mr. Olsen

Derek Olsen

Senior Vice President, CHMWarnick

Derek Olsen, is a Senior Vice President of CHMWarnick, the leading hotel asset management and owner advisory services firm. Mr. Olsen brings more than 20 years' hospitality advisory and asset management experience and a master's degree in real estate to CHMWarnick. Olsen brings expertise in the areas of hotel/portfolio valuation, cash flow analyses, market and industry trends and special projects focused on increasing profitability. Mr. Olsen is an integral member of CHMWarnick's asset management and transaction team, and has personally underwritten more than 300 hotel acquisition deals, many representing complex transactions with significant development and reprogramming elements. Mr. Olsen has extensive financial modeling and valuation experience, and has identified significant value enhancement opportunities through operational initiatives, lease negotiations and redevelopment strategies. His experience spans a broad range of land uses including hotels and resorts, luxury condominiums, condo-hotels, fractional, time-share, whole-ownership residences and golf courses. He has a Bachelor of Science in Hospitality Management from Cornell University, and a Master of Science in Real Estate from Massachusetts Institute of Technology.

Please visit https://www.CHMWarnick.com for more information.

Mr. Olsen can be contacted at 978-522-7000 or dolsen@chmwarnick.com

Coming up in August 2020...

Food & Beverage: New Technological Innovations

In the past few years, hotel food and beverage departments have experienced significant growth. Managers are realizing just how much revenue potential this sector holds, both in terms of additional revenue and as a means to enhance the guest experience. As a result, substantial investments are being made in F&B operations as a way to satisfy hotel guests but also to keep pace with the competition. Though it has been a trend for many years, the Farm-to-Table movement shows no signs of abating. Hotel chains are abandoning corporate restaurants and are instead partnering with local chefs to create locally-influenced dining options. Local, farm-sourced ingredients paired with specialty beverages or local wine also satisfies the increasing demand from Millennial travelers who are eager to travel sustainably and contribute to a positive impact. A farm-to-table F&B program also helps to support the local economy, which builds community goodwill. Also popular are "Self-Serv" and "Grab & Go" options. These concepts stem from an awareness that a guest's time is limited and if a hotel can supply them with fast, fresh, food and beverage choices, then so much the better for them. Plus, by placing these specialty kiosks in areas that might be traditionally under-utilized (the lobby, for instance), they can become popular destination locations. Of course, there are new technological innovations as well. In-room, on-screen menus allow guests to order from any restaurant on the property, and some hotels are partnering with delivery companies that make it possible for guests to order food from any restaurant in the area. Also, many hotels are implementing in-room, voice-activated devices, so ordering food via an AI-powered assistant will soon become mainstream as well. The August issue of the Hotel Business Review will report on these developments and document what some leading hotels are doing to expand this area of their business.