Adam Tegge, MBA, CHAM

Experience

• 

  Marine Corps Recruiting

  Jun 1989 - Jun 1995

  Staff Sergeant (E-6) - Honorably Discharged
• 

  Winegardner & Hammons Hotel Group

  Jan 1993 - Jan 1996

  Assistant General Manager
• 

  Waterford Hotel Group

  Jan 1996 - Jan 1998

  General Manager

  Responsible for all aspects of a 145 room full-service hotel, including improving financial performance, ensuring optimal guest satisfaction scores, and developing and retaining strong departmental managers and associates. Actively participated in the acquisition and repositioning of a 184 room upscale independent boutique hotel.

• 

  IHG Hotels & Resorts

  Jan 1998 - Jan 2003

  Director

  Developed and directed a team of 14 Area Managers and a Regional Revenue Manager that provided revenue and service related consulting to 600 hotels located throughout the central United States and eastern Canada. Full responsibility for financial planning, analysis and budgeting for the team. Acted as a key account director interacting with influential multi-unit owners and franchise representatives.

• 

  Crown American Hotels

  Jan 2003 - Jan 2005

  Director of Operations

  Responsible for all sales and operational aspects of a portfolio consisting of 11 assets, totaling nearly 1,600 rooms and operating under brands such as Four Points by Sheraton, Holiday Inn, and Wyndham. Effectively evaluated critical metrics (STR indices and financial performance) and developed appropriate strategies to enhance revenues and net operating income.

• 

  Strand Hospitality Services

  Jan 2005 - Jan 2006

  Director of Operations

  Responsible for the effective management of a portfolio of 11 assets. Maintained strong relationships with individual ownership groups and brand representatives. Prepared annual capital plans and ROI analysis for large-scale capital improvement projects. Completed due diligence and market feasibility activities on five potential acquisitions.

• 

  Carlson Rezidor Hotel Group

  Jan 2006 - Jan 2008

  Director, Carlson Hotels Real Estate

  Partnered with one of the nation’s largest hospitality REITs (Hospitality Properties Trust) in asset managing a portfolio of 15 upscale hotels valued at $280 million and having a combined 3,200 rooms. Acted as the owner’s agent for Carlson Real Estate Company and maintained constant communication with key executives of the in-house management company and outside investment partner. Reviewed and approved annual operating, marketing and capital expenditure plans. Evaluated potential acquisitions for the partnership with the REIT. Responsible for all major capital projects from initial analysis utilizing IRR, NPV and ROI modeling to final completion. In addition to the core asset management duties, acted as Director of Operations for three of the largest company-owned properties (ranging from 227 to 439 guestrooms). Show less

• 

  Loeb Partners Realty LLC

  Jan 2008 - Jan 2014

  Vice President

  Responsible for asset management, revenue management and all operational aspects of an upscale portfolio with a combined 2,000 rooms, as well as a commercial office building in the southeast United States. Administration of all operational, financial and capital investments related to the portfolio. Collaborate with third-party management teams in developing and executing value added initiatives in order to meet the specific financial objectives of ownership and institutional capital partners. Identified, underwrote, and performed due diligence analysis of potential acquisitions. Investments included the flagship of the Renaissance brand, a 700-room convention property, an independent golf resort, and luxury beachfront resort with condo-hotel and private 2,000-member club. Key Accomplishments: •Performed in-depth market research and due diligence on potential investments utilizing third party property reports, new supply data, and local interviews•Oversaw two properties in the capacity of both owner’s agent and Vice President of Operations•Negotiated a loan modification and extension with a major finance company. Key provisions included the waiving of coverage ratios and amortization, interest rate reduction and principal reduction in the event of sale. •Directly responsible for the successful disposition of a multi-faceted condo-hotel with a private club component. Achieved a 10% premium over LOIs obtained through a national brokerage firm •Successfully executed a plan for a $10 million renovation completed within the projected timeframe and budget, this shortly after Hurricane Gustav and change in third-party management. The project was subsequently recognized as the “Renovation of the Year” by the brand. Show less

• 

  Ashford Inc. (NYSE American: AINC)

  Mar 2014 - now

  Managed a portfolio of 26 full and select service assets, generating total revenue of nearly $400 million and net asset value of $1.5 billion. Drive incremental revenue generation through development and implementation of both property and portfolio level strategies. Collaborate with operating partners such as Marriott and Hyatt, as well as internal stakeholders, to drive portfolio performance through revenue generation, profit optimization and capital value enhancement. Negotiate new and existing leases. Work in collaboration with legal, cap ex and third-party consultants on potential acquisitions and dispositions. Conduct financial analysis evaluating various capitalization structures.Key Accomplishments: •Consistently exceeded the company GOP flow metric and market share growth for the portfolio •Managed COVID response initiative which yielded $89 million in labor and $12 million in contract savings •Effectively executed several return-on-investment projects. Examples include the successful rebranding of a 499-room luxury asset, restructuring a third-party restaurant lease, and repositioning of a restaurant in Atlanta. Show less

  • Vice President of Acquisitions

    Feb 2022 - now

  • Vice President of Asset Management

    Mar 2014 - Feb 2022