King Ventures is an award winning real estate development enterprise, head quartered in San Luis Obispo. Over the last 30 years, King Ventures has produced a variety of high quality, new and historical restoration products, as well as residential and commercial office properties. In more recent years, our focus in development-related projects has emphasized hotel/resort properties, as well as vacation club/timeshare ownership.
Through relationships with major management companies in North America, we have been able to position ourselves to take full advantage of improving economic markets in visitor-serving developments. Our specialties include full service resort properties, where families and conference attendees alike can take advantage of on-site amenities such as meetings and convention space, health spas and recreational activities, larger room accommodations (one-and two-bedroom units), unique dining and lounge facilities and first class accommodations. Our experience in this market places King Ventures product in high demand in today's competitive lodging and resort industries.
This form of contracting has been implemented by King Ventures to provide innovative construction and project management services. Our construction management is a comprehensive array of services spanning all phases of the design and construction process, which include estimating scheduling, design, engineering, construction supervision and total quality management.
The specific scope of service applied is one which is appropriate to the project's size, type and complexity, and to the Owner's precise needs.
As a single-source responsible for all design and construction projects, King Ventures' design/build capabilities have been developed to provide the most creative, cost effective solutions available. This approach not only maximizes budgets efficiently, but delivers the highest level of quality construction more efficiently.
As in the case of 80% of King Ventures' projects, equity/ownership plays an important role; and this participation helps warrant cost effective decisions and balances short and long term partnership economic goals
DESIGN/BUILD BOUTIQUE HOTELS
Our design/build experience with the boutique hotel product line includes projects located along the California Coast and inland specialty markets such as Palm Springs, Santa Barbara, San Francisco, Napa, Lake Tahoe and Sacramento. This product line continues to distinguish itself by offering high end visitor accommodations in a unique design environment, tailored with a valance between local market needs of sensitivity to community values.
King Ventures seeks to acquire upscale, full-service hotels that are situated near both business and leisure centers, generating a broad base of demand for hotel accommodations and facilities. These demand generators include (i) business parks, (ii) airports, (iii) shopping centers and other retail areas, (iv) tourist destinations, (v) major universities and (vi) cultural and entertainment centers with nightlife and restaurants. The confluence of nearby business and leisure centers attracts both weekday business travelers and weekend leisure guests. Attracting business, group and leisure guests to its hotels helps to maintain stable occupancy rates and high ADRs.
King Ventures seeks to acquire well-constructed hotels that are less than 20 years old, contain 200 to 500 guest rooms and include accommodations and facilities that are, or are capable of being made, attractive to key demand segments such as business, group and leisure travelers. These facilities typically include large, upscale guest rooms, food and beverage facilities, extensive meeting and banquet space, and amenities such as health clubs, swimming pools and adequate parking.
King Ventures believes that skilled management of hotel operations is the most critical element in maximizing profitability and value in full-service hotels. King Ventures has implemented its management tools and used its corporate infrastructure to produce above average hotel revenue growth and profitability. Main operating objectives include providing hotel guests with high-quality service and value while generating higher RevPAR and net operating income. King Ventures seeks to achieve these objectives by creating a specifically tailored management plan for each individual hotel rather than maintaining a uniform corporate image or brand.
King Ventures maintains a group of executives to carry out financing and acquisition activities and to support all management programs. Each executive department, including Corporate Finance, Project Finance, Development, Employee Training and Marketing (which includes various specialized areas), is headed by an executive with significant experience in that area. King Ventures supports and monitors decision-making by hotel operating executives, providing accounting, budgeting, property management and other resources which cannot be economically maintained at the individual hotels. Key elements of King Ventures' management programs include the following:
- Budget Planning & Monitoring
- Computerized Reporting Systems
- Targeted Sales & Marketing
- Strategic Use of Multiple Brand Names
- Emphasis on Food & Beverage
- Strategic Capital Improvements
- Commitment to Reinvestment
- Commitment to Service & Value
- Distinct Management Culture
FOOD & BEVERAGE OPERATIONS
King Ventures understands the opportunities that restaurants, bars and banqueting operations present in successfully positioning a property in order to maximize its financial potential.
King Ventures' philosophy is to develop a concept unique to the market and/or hotel in which it is located. Each Food and Beverage operation is distinctive, based upon the current market conditions. Our restaurants penetrate a market quickly and gain instant recognition for the outstanding quality of food and service. And they do this while providing a positive contribution to cash flow.
All Food & Beverage operations under King Ventures' direction benefit from a common process for developing the concept and program, implementing the program and documenting standards to ensure that the concept, quality and cost standards are maintained.
King Ventures' success in maintaining quality standards at profitable levels while its restaurants and hotels are in an operating mode is possible because of its commitment to adhere to precise details set forth in documented standards. These standards are constantly updated and monitored by King Ventures' development team.
King Ventures' management believes popular Food & Beverage concepts to be a critical component in the overall success of a hotel. King Ventures is committed to competing for consumers with restaurants and catering establishments by offering high-quality restaurants that garner positive reviews and strong local/nations reputations.