Non-Executive Director — Hotel Investment Platform

Acquisition discipline

The director will challenge the assumptions connecting purchase price, refurbishment, trading improvement and exit value. Scrutinise capital expenditure estimates and the disruption associated with works. Test whether financing and liquidity remain adequate if reopening, occupancy recovery or rate growth takes longer than planned.

Oversight after completion

Review asset plans against the original investment case and require explanations for material changes. Examine operator incentives, owner approvals and reporting quality. Encourage comparison of hold, invest and sell alternatives without allowing sunk costs to determine the answer.

Post-acquisition review should preserve the original underwriting case and distinguish changes in market conditions from execution variance. If the strategy shifts, the board should understand whether the original thesis failed or a better opportunity emerged. Review the full cost of repositioning, including lost trading and the period before benefits stabilise. The director should challenge continued investment justified mainly by amounts already spent and compare the remaining options using prospective cash flows and realistic execution risk.

Board responsibilities beyond the transaction

Contribute to portfolio concentration, financing and risk decisions. Seek evidence that operating performance is being achieved without deferring essential maintenance or weakening service quality. Identify conflicts involving deal originators, asset managers and related parties.

How contribution should be assessed

The board should gain sharper underwriting questions and a more honest account of post-acquisition performance. Candidates should demonstrate their ability to challenge an attractive transaction while preserving constructive relationships with management. This is a non-executive role: investment execution and day-to-day asset management remain with authorised executives.