Benjamin West, a global purchasing firm for hotel furniture, fixtures and equipment and operating supplies and equipment will provide FF&E procurement services for a 69-hotel portfolio undergoing a comprehensive renovation. The portfolio is comprised of Marriott and Hilton hotels located throughout the United States. The project will be coordinated by Ed Phaby and David Westrick in the company’s Dallas office.
All but nine of the hotels in the portfolio are Marriott-branded properties, with 27 Residence Inns and 15 Courtyards included. Fairfield Inn, TownePlace Suites, SpringHill Suites and Four Points are also represented. The portfolio also has seven Hampton Inn by Hilton properties and two Homewood Suites hotels.
“All told, these hotels will undergo about $200 million in renovations that will include approximately $70 million in new FF&E, making it one of the largest portfolio projects underway today,” Alan Benjamin, president of Benjamin West, said in a statement. “While we have worked with hundreds of hotels from each of the major family of brands, including more than 350 Hilton hotels, we arguably have worked on more Marriott projects than any other procurement firm. With the completion of this project, we will have serviced more than 1,000 Marriott-flagged hotels.”
Benjamin West uses a proprietary purchasing system to improve efficiencies. The company's RPM (Revolutionary Purchasing Management) system accelerates the rate and availability of information by providing real-time reports and financial data 24/7. This lets owners access project and financial reports, historic tax credit tracking and coding assets to their general ledger.
“At this stage of the cycle, more portfolio transactions are likely, as well as investment in existing portfolios to maintain a competitive edge, and with that, ensuing upgrades and renovations to better position these assets,” Benjamin noted. “The ability to transition these deals quickly and cost-effectively will allow them to achieve their investment objectives.”