Editorial Board   Guest Author

Mr. Olsen

Derek Olsen

Senior Vice President, CHMWarnick

Derek Olsen, is a Senior Vice President of CHMWarnick, the leading hotel asset management and owner advisory services firm. Mr. Olsen brings more than 20 years' hospitality advisory and asset management experience and a master's degree in real estate to CHMWarnick. Olsen brings expertise in the areas of hotel/portfolio valuation, cash flow analyses, market and industry trends and special projects focused on increasing profitability. Mr. Olsen is an integral member of CHMWarnick's asset management and transaction team, and has personally underwritten more than 300 hotel acquisition deals, many representing complex transactions with significant development and reprogramming elements. Mr. Olsen has extensive financial modeling and valuation experience, and has identified significant value enhancement opportunities through operational initiatives, lease negotiations and redevelopment strategies. His experience spans a broad range of land uses including hotels and resorts, luxury condominiums, condo-hotels, fractional, time-share, whole-ownership residences and golf courses. He has a Bachelor of Science in Hospitality Management from Cornell University, and a Master of Science in Real Estate from Massachusetts Institute of Technology.

Please visit https://www.CHMWarnick.com for more information.

Mr. Olsen can be contacted at 978-522-7000 or dolsen@chmwarnick.com

Coming up in May 2019...

Eco-Friendly Practices: Corporate Social Responsibility

The hotel industry has undertaken a long-term effort to build more responsible and socially conscious businesses. What began with small efforts to reduce waste - such as paperless checkouts and refillable soap dispensers - has evolved into an international movement toward implementing sustainable development practices. In addition to establishing themselves as good corporate citizens, adopting eco-friendly practices is sound business for hotels. According to a recent report from Deloitte, 95% of business travelers believe the hotel industry should be undertaking “green” initiatives, and Millennials are twice as likely to support brands with strong management of environmental and social issues. Given these conclusions, hotels are continuing to innovate in the areas of environmental sustainability. For example, one leading hotel chain has designed special elevators that collect kinetic energy from the moving lift and in the process, they have reduced their energy consumption by 50%  over conventional elevators. Also, they installed an advanced air conditioning system which employs a magnetic mechanical system that makes them more energy efficient. Other hotels are installing Intelligent Building Systems which monitor and control temperatures in rooms, common areas and swimming pools, as well as ventilation and cold water systems. Some hotels are installing Electric Vehicle charging stations, planting rooftop gardens, implementing stringent recycling programs, and insisting on the use of biodegradable materials. Another trend is the creation of Green Teams within a hotel's operation that are tasked to implement earth-friendly practices and manage budgets for green projects. Some hotels have even gone so far as to curtail or eliminate room service, believing that keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the Hotel Business Review will document what some hotels are doing to integrate sustainable practices into their operations and how they are benefiting from them.