Opportunities for Building Owners
Capitalize on Corporate Real Estate:
- Generate lease revenue from non-core meeting
- Eliminate food service subsidies
- Reduce and offset operating costs
- Increase guest satisfaction and company productivity
Sentry management reduces operating costs and increases service levels by replacing subsidized building amenities and internal departments with competitive P&L operations. Unlike conventional management companies, Sentry leases conference properties and operates corporate food service outlets as a “value add tenant” by providing continued fee-based use of the amenities to the lessor and/or building tenants while entertaining outside meeting business. Operations are self-funded via strong capital backing and ongoing P&L operations run by Sentry’s roster of consummate hospitality professionals. All core service functions are operated internally including management, operations & planning, food production, staffing, sales & marketing and audio visual technology.
Any combination of Sentry’s services can be applied to meet client requirements within tailored lease, joint venture and management arrangements.
Key Points of Differentiation:
- We generate cash flow for your company by filling your unused amenities with outside business
- Not interested in hosting outside parties? We manage properties from an owner’s perspective.
- Our management: Operations are structured as a network of smaller “entrepreneurial” business units working together to deliver operational efficiency and excellence in service.
Case Study:
In November 2009, Sentry transformed TIAA CREF’s internal meeting facility into New York’s largest, dedicated executive meeting and conference center and Sentry Centers “flagship” property. The site has quickly become the preferred “off-site” meetings destination for the Fortune 500 in New York. In the metamorphosis TIAA has turned a liability into a cash flowing real estate asset that they can still utilize.
- New York’s largest dedicated meeting and conference center.
- 44,691 sq. ft. of executive meeting space (Including 13 multi-purpose rooms, 2 kitchens, 1 operating cafeteria, outdoor terrace).
- Notable features are pervasive natural light, 22ft ceilings, built in audio visual technology, grand staircase with open connectivity between primary meeting floors.
- Diverse spaces comfortably accommodate 2 -440 guests.
- In-house departments include conference center management and operations, conference & planning, culinary (cafeteria, banquet, catering), production / audio visual, non-union staffing and sales & marketing.
- Full stock of conference and banquet equipment.
“Sentry Centers has consistently proven that it is well suited to serve our needs for corporate conference and catering services. We look forward to our continued partnership into the future.”
- Timothy Lorman
Director of Conference Services
TIAA-CREF
Sentry is actively seeking to lease, joint venture and manage additional function space in conference centers, event venues and convention hotels:
Operating Structures:
- Amenity Lease (P&L): Sentry leases properties as a “value add tenant” by applying capital, operational and sales & marketing to run a full P&L.
- Joint Venture: Offsets operating expense while maximizing and amenity value by selling underutilized capacity around any degree of existing usage under a hybrid fixed fee-revenue share arrangement.
- Straight Management: Fixed fee management arrangement allows for 100 percent dedicated internal
- Complete Outsourcing: Contract discounted off-site meeting blocks with guaranteed usage.
| Type: | Sentry Centers | Management Contracts | Hotel Centers |
|---|
| Product Size: | Minimum of 15,000 sq. ft. | Minimum of 15,000 sq. ft. | Minimum of 10,000 sq. ft. |
| Quality: | “As built” conference space in Class A office buildings with views and natural light | Serviced conference space for internal and/or external use. | Large group / convention hotels. |
| Location: | Primary urban markets with dense corporate base close to public transportation | Primary and secondary urban and suburban markets | North American urban and suburban markets. |
| Structure: | Lease or Joint Venture with Landlord/Tenant | Third Party Management or Joint Venture | Lease or Fee Owned |
Please feel welcome to contact us to discuss the possibilities.
Contact: Christopher Kelly or Ryan Simonetti
Email: realestate@sentrycenters.com
Phone: (888) 730-7307
