DALLAS, TX— It’s difficult to quibble over 1,400% business growth. And it is even harder to argue with that kind of commercial success when— as Prism Hospitality President/CEO Steve Van noted— it comes during “the hard times” of the past two to three years. To hear Van tell it, it is no secret why the company has been able to move forward so dynamically during the course of the recent economic downturn. “We manage properties like it is still 1990 to 1991,” he said, explaining he and his associates believe that is the best way to avoid repeating such a tumultuous situation and its attendant disastrous results. What exactly does it mean to “manage like it’s 1990 to 1991?” According to Van, such a modus operandi primarily means “keeping our staffing levels lean, and growing our business carefully rather than haphazardly.” Of course, “lean” can be a subjective sentiment, given the fact Prism now lists 51 professionals on its corporate staff and more than 2,000 employees systemwide at various remote locations. That this formula for growth has indeed worked— and worked well— for the 20-year-old management firm is evidenced by the fact the company’s management portfolio currently stands at some four-dozen (mostly full-service) hotels nationwide, encompassing a variety of branded as well as independent lodging properties. Further, Prism has not only substantially expanded its business dealings on behalf of “a blue-chip list of institutional owner/investor clients the likes of AEW, Apollo, GE, GMAC, Lend Lease and RockBridge among others” over the years, but the firm has correspondingly grown its worth and esteem in the eyes of such “household brands” as Embassy Suites, Hilton, Holiday Inn, Radisson, Sheraton, etc. as well, Van said. “Working with— and on behalf of— such a high-profile line-up of organizations has allowed us to rack up more new and repeat business than probably any other hotel-management firm over the course of this current economic downturn,” Van said. Furthermore, it would seem the end to this good fortune is not necessarily in sight quite yet… what with the third-party management company fully expecting to bring its hotel-client count up to about 70 properties by year’s end. On the other hand, Van is adamant when he contends: “We don’t really want to get so big we ultimately lose contact— and our close relationship— with our clients. We actually like being in the trenches with [our clients]… working side-by-side with them to win the battles.” Along these battle lines, Van maintained they may well have been drawn initially because “times were just too good in 1999 and 2000;” a situation that he suggested “led to a lot less attention to detail than required. Let’s face it,” he added, “a $200 ADR can cover a multitude of operating sins.” Accordingly, Van— armed with the perspective of a former hotel owner/developer— understands successful property-management “is not a rocket-science business. We’ve found the best way to retain and build business is to stick to the basics via what is a high sales-driven culture. “As such,” Van said, “we depend heavily on experienced sales and management professionals. In fact, we probably do more sales training than any other [hotel-management] company. But if that’s not enough,” Van added, “we can always fall back on experience. For instance, to this end, we’ve signed on more than 30 former Bristol Hotels’ executives and key players. “As most anyone can attest, it’s always easier to cut costs than to increase sales. But that’s where we’re different; we make it a point to fix our focus firmly on boosting marketshare,” he said. “For instance, since we took over management responsibility for the Radisson at Atlanta Airport— on Sept. 11, 2001, no less— that property has seen its marketshare climb from 58% to 70%.” Simply stated, the Prism Hotels’ chieftain said: “We operate to increase [a property’s]value.” On that note, Van emphasized: “That’s a responsibility, as well as an e
