Description: Asset management services were provided for this 392-room five-star resort and spa located in Southern California. The prior management operator was terminated and through a competitive bidding process and negotiation, a new management contract was finalized with below market terms, lower management fees, increased control for ownership, performance termination and termination on sale. An aggressive rate strategy was implemented without eroding market share, and operating expenses were managed without impacting the quality of product and guest experience. A master plan was also developed and included the expansion of the spa and retail and inclusion of residential units. Within two years, total revenues increased 25% and profits increased 40% as GOP margin improved from 30.2% to 34.0%.