CHMWarnick Names Diane Tanner Fox (CHAM) Senior Vice-President

USA, Chicago, Illinois. May 23, 2019

CHMWarnick, hotel asset manager and business advisor to the hospitality investment community, announced today Diane Tanner Fox, CHAM (Certified Hotel Asset Manager), has been named senior vice-president. In her new role, Fox will be responsible for maintaining and strengthening CHMWarnick's Midwestern presence through the establishment of a Chicago office.

"Diane is a highly-respected industry executive whose vast experience, capabilities and impressive track record of maximizing all aspects of hospitality real estate makes her a valuable addition to our team," said Chad Crandell, CEO and managing director, CHMWarnick. "Her two-plus decades of hotel investment experience include numerous roles, ranging from acquisition and development to hotel asset management for both public and private entities. She brings a multifaceted dimension to CHMWarnick, having successfully enhanced the value of hotels and portfolios within luxury, select- and full-service segments."

Fox has asset managed hotels, resorts and large-scale portfolios in primary and secondary markets across the country, with more than a decade in the Midwest, representing knowledge and experience in an important region for CHMWarnick clients. Roughly a quarter of the 70 hotels and 29,000 rooms in CHMWarnick's asset management portfolio are located in the Midwest, including some of the country's leading convention center headquarter hotels, such as the Hyatt Regency and Marriott Marquis at Chicago's McCormick Place, Hilton Cleveland Downtown, Hilton Des Moines Downtown and the Detroit Marriott at the Renaissance Center.

"Diane brings tremendous versatility to our group, both in terms of product tier and market experience with firm roots in the Midwest. While CHMWarnick has actively asset managed properties throughout the region since 1998, the recent surge in hotel development and client investment activity in the Midwest makes this the ideal time for us to establish an office in the Chicago area. Diane is a strategic hire, one of the best in the business, and the perfect candidate to enhance our team to drive value for our hotel investment clients in the Midwest and beyond," remarked Rich Warnick, co-chairman and managing director of CHMWarnick.

Most recently, Fox served as executive vice-president of a national hotel asset management firm, where she oversaw the company's West Coast portfolio of 14 hotels totaling approximately $1 billion in asset value. Prior to that, she held the position of senior vice-president of asset management with Waterton, a Chicago-based real estate investment and property management company with a focus on U.S. hospitality, multifamily and senior living properties. While there, she was responsible for a portfolio of 10 hotels totaling approximately $500 million in value. Fox also has worked for such prestigious organizations as Clarion Partners as senior vice-president of asset management, Hilton Hotels Corporation as vice-president of development for the south-central region, and CNL Hospitality Corporation as vice-president of portfolio management. She is an active member of HAMA (Hospitality Asset Managers Association) and represents the seventh member of CHMWarnick's professional team to hold the coveted CHAM designation, an advanced certification in hotel asset management held only by 39 individuals worldwide.

Fox graduated from Cleveland State University with an M.A. in public administration and a joint B.A. in business administration and marketing.

"CHMWarnick has a tremendous team and unmatched coast-to-coast presence in the third-party asset management field," Fox said. "The CHMWarnick team is focused on delivering the best results for their clients. They have created an organization focused on value creation by building out a team of seasoned asset managers who cross-share ideas and best practices. Also, they have invested in developing Proph+IT, a technology platform that allows the asset management team access to state-of-the-art detailed benchmarking and analytics. I look forward to helping further establish our Midwestern footprint as we continue to grow."

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.