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Performance

The Normandy

Washington DC 75 Rooms
  • In 2013, prospective owners engaged Modus Hotels to conduct due diligence
  • Modus identified 4 cost opportunities:
    • Excessive breakfast costs
    • Inflated housekeeping payroll
    • Excessive laundry costs
    • A poorly managed “Wine Hour”
  • Modus assisted in capital raise
  • New owner named Modus as hotel manager
  • Sold in 2017, resulting in a 19.5% IRR.
    • Modus led disposition process