ASHEVILLE, N.C. – When Patton Hospitality Management (PHM) was formed, its President and Chief Executive Officer Will Horton, sought to create a company that offered service-based solutions for issues facing the timeshare industry. The strategy has paid off. Today, the company is one of the largest independent companies in the U.S., servicing more than 150,000 owners, members and guests annually.
-The Patton Hospitality Management Difference-
A sampling of PHM’s service-based solutions include:
- More developed rental business – During the financial crisis, some owners found they could no longer afford their timeshares. Additionally, bad debt percentages for homeowners associations (HOAs) rose from 10-15 percent to all-time highs of 20-30 percent. PHM assists owners and HOAs by renting units for them, creating an immediate cash flow with net proceeds. If the opportunity is large enough, the company will rent the units at reduced charges to the owner and HOA or even purchase the inventory from the distressed owner and oversee rental directly.
- Expertise of every timeshare product – Over the years, the timeshare business has become complicated, with properties offering fixed weeks, float weeks, seasonal float weeks and points. PHM’s team has managed every type of product in the market today and has a keen understanding of how to maximize revenue and simplify the booking process for owners and guests.
- In-house operations are truly “in-house” – All PHM services are performed in-house. Nothing is delegated to third-party vendors. For example, the company’s accounting services are overseen by Chief Financial Officer Dennis Patenotte who supervises a team of 20 professionals.
- Manage the Management Company – While PHM offers consulting services for acquisitions and redevelopment of distressed resorts, the company can also serve as an owner representative in auditing the existing management company.
In the coming year, PHM will be launching more exclusive services and debuting a proprietary software program for owners.
“This is a very exciting time for Patton Hospitality Management,” states Will Horton, president and chief executive officer. “Combining our extensive experience in the timeshare business with all the technological advancements available today, we are convinced that we will set industry standards for years to come.”
-About Patton Hospitality Management-
As one of the country’s largest independent resort and timeshare management companies, Patton Hospitality Management is a full-service company, managing $375 million in assets. Properties include hotels, condo hotels, timeshares, condominium communities, a marina and 12 luxury catamarans. It oversees $75 million in annual operating budgets and services more than 150,000 owners, members and guests annually. The company’s fast success is attributed to its experienced leadership and innovative technology-driven solutions that provide superior service and satisfaction to property owners and guests. For more information, call (855) 572-8866 or visit www.pattonhospitality.com.