Restaurant terrace overlooking the sea at sunset.
Services

Advisory and management for hotels, resorts, golf courses and sports clubs

Independent judgement, with an owner’s perspective, at every stage of an asset: before investing, before building, during operation and in direct management. Each service can be engaged on its own or in sequence, with the Managing Partner accountable from the first visit to the final report.

The four platforms

Before investingStrategy & feasibilityStrategic Decision Advisory™Strategy and feasibility, before you invest.Feasibility studies, business plans and the best use of land, before you buy, build or reposition a hotel, resort, club or residential scheme.Scope and deliverables Before buildingDesign & buildOperational Design & Development Advisory™Design and build, reviewed before construction.Plans, guest and staff flows and the Clubhouse brief, reviewed before construction by people who have run hotels and clubs.Scope and deliverables During operationAsset managementOwner-Side Asset Management™Asset management, alongside the management team.Budgets, the CAPEX plan, clear owner reporting and the relationship with the operator, for assets run by an operator or a management team.Scope and deliverables In direct managementDirect & interim managementOwner-Minded Management™Direct and interim management, with the team already in place.Interim management, pre‑opening and recovery of clubs, resorts and hotels, when an asset needs someone in charge.Scope and deliverables
The first step

Start with one defined piece of work

Most engagements begin with one defined piece of work, with its scope and fee agreed in advance. The deliverable is an Owner Decision Report, written for the owner, the board or the investment committee that has to act on it.

Discuss your project

What the report contains
  1. The question, in one sentence
  2. What is happening in the asset, and why
  3. What it means for the owner
  4. Options and their consequences
  5. Recommendation and next steps, with names and dates
  6. Main risks, and the information still missing

To prepare it we ask for the essentials: type of asset and its uses, two years of revenue and costs by business line, CAPEX completed and planned, the management model and what has already been agreed.

Example report, fictional asset PDFFirm profile PDF

Engagement

Three levels of involvement

Advisory mandate

What should we do with this asset?

A defined piece of work: feasibility, design review, operator selection, CAPEX review or repositioning.

Asset mandate

Is the asset performing as it should?

Recurring representation: monthly review, owner and operator alignment, budget and CAPEX control, board reporting.

Management mandate

Who runs the asset now?

Full, interim or turnaround management, or pre‑opening, under a mandate defined with the client.

Method

The EROLA Method™

Seven disciplines that every engagement follows, whatever its size.

  1. Understand

    Define the real question before looking for answers.

  2. Diagnose

    Find the cause behind the number, not the symptom.

  3. Align

    Bring investment, design, operation and brand into one plan.

  4. Decide

    Clear options, their consequences and a recommendation.

  5. Build

    Turn the recommendation into a plan, a budget and a brief.

  6. Operate

    Carry the plan into daily operation.

  7. Elevate

    Review results and plan the next round of investment.

Questions

Frequently asked questions

What is owner-side asset management?

It is independent representation of the owner of an operating asset. Working with the operator’s team, we read performance, budgets, CAPEX requests and reporting from the owner’s point of view. We explain what the numbers mean operationally and recommend what to do. We do not replace the operator: we work with the general manager and the team on the same numbers, and when owner and operator want different things, we put it on the table with evidence.

How is this different from a management company?

A management company runs the asset day to day and is paid for doing so. An owner’s representative helps the owner with the calls that are the owner’s to make, and works with the management company so that both read the asset the same way. When an asset needs direct management, we offer it separately as Owner-Minded Management™, with the same principles.

Do you work outside Spain?

Yes. The firm is based in Spain and works in Spain and Southern Europe, the UK, Latin America, the Middle East and Africa, in English, Spanish and French. Before EROLA, our Managing Partner ran assets in Thailand, Cambodia, Mexico and Spain.

Do you work on real estate?

Yes, where real estate depends on hospitality or sport: golf and resort residential, branded residences, mixed-use leisure and rental portfolios. We advise on best use, amenities, feasibility and operation. We do not buy, sell or broker property, and we take no commission on transactions.

Do you take commissions from suppliers or operators?

No. Fees are agreed with the client who engages us and stated in full. We receive no commissions or incentives from operators, suppliers, contractors or designers we recommend.

Who will work on my asset?

Every mandate is led by Julián Romaguera, Managing Partner, who stays accountable to the client from start to finish. Specialists join when the asset needs them, in fields such as legal and tax, finance, agronomy or design, with their role and fees agreed with the client in advance.

What is the best first step?

A conversation about the asset and the situation in front of you. From there we propose a defined piece of work or an initial asset review, with scope and fee agreed in advance.