Case Studies
Silverbirch Hotels and Resorts
In 2007, the British Columbia Investment Management Corporation made a significant investment in SBHR at the peak of the market. Following several challenging years, our principals were recruited in 2010 to manage this nationwide portfolio of full-service hotels. We quickly aligned the Board and owners around a strategic plan to restore and grow value, ultimately leading to a successful exit.
Over six years, we led nearly $500 million in capital investments, completed six major construction projects, and added density with mixed-use retail and residential developments that complemented hotel operations. Most of the portfolio was rebranded under Marriott and Hilton, strengthening its market position.
In 2015, we integrated the Delta brand and 14 Delta hotels into the portfolio, immediately selling the brand to Marriott for $165 million. The following year, we spearheaded the global marketing effort for the sale of the Silverbirch brand and real estate portfolio, completing the transaction in early 2017 for well over $1 billion—exceeding owner expectations by 25% over pre-sale valuations.
Aspen Meadows Resort and the Aspen Institute
Over a 24-month period, we drove a 100% improvement in NOI for an underperforming Aspen resort, leading to Dolce Hotels and Resorts extending its management contract. By aligning synergies for new business segments, implementing targeted sales strategies, strengthening operations, and elevating service through the Forbes service-training model, we significantly improved both guest sentiment and employee engagement.
We also led $30 million in capital investments, including the $15 million development of the Doerr-Hosier Conference Center, a key anchor for the Aspen Ideas Festival, attracting global leaders, diplomats, and Nobel laureates. An additional $15 million was deployed into campus renovations, the launch of Plato’s restaurant, and the enhancement of facilities and guest-centric experiences, further positioning the Institute as a premier destination for thought leadership and world-class hospitality.
Residence Inn – Vancouver, B.C. Canada
In 2010, we took over management of a 200-room independent extended stay hotel in a secondary location, generating $1.5 million in annual net income but in need of significant capital investment. We closed the hotel for eight months to execute a comprehensive $25 million renovation while evaluating multiple brand offers. After careful consideration, we selected Marriott Residence Inn to enhance its competitive position.
Beyond standard brand requirements, we implemented elevated guest room finishes, upgraded food and beverage offerings, and improved curb appeal. In its first year post-renovation, the hotel generated $5 million in net income and tripled in valuation. It became Vancouver’s market leader in occupancy and continues to lead its competitive set more than a decade later. The $25 million capital investment resulted in a new valuation of $80 million, delivering exceptional returns for ownership.
