Hospitality consultancy Ideation + H launches in New York

11 January 2021 2 min. read

Real estate firm Millennium Partners has spun off its hotel group as Ideation + H, a boutique hospitality asset management and consulting firm based in New York. The new firm is led by founder and president Pamela Malkani, who brings more than 35 years of hospitality sector experience.

Malkani previously spent 25 years at Millennium, where she headed the luxury developer’s hospitality division. During her tenure, the firm constructed seven five-star hotels under the Four Seasons and Ritz-Carlton brands, which were a key part of Millennium’s portfolio of condominium, office, and retail buildings in the US. After Millennium sold an interest in the hotels between 2010-2012, the hospitality group continued to deliver asset management services to the new partners and an expanded portfolio of hotels.

Ideation + H will oversee a portfolio of hotels and fractional clubs, including 1,500+ keys and over $350 million in annual revenues. Malkani is joined by asset managers Tim O’Brien, Phing Thong, and Jacqueline Sanders. The team has extensive operational and asset management experience, having worked with hotel management companies and franchise operators including Marriott, Ritz-Carlton, Four Seasons, Hyatt, and Hilton.

Hospitality consultancy Ideation + H launches in New York

Phil Aarons, founding partner of Millennium Partners, said, "For a quarter of a century, Pam and her team have brought experience, discipline, and integrity to the management of both Millennium Partners' hotels and the hotels of other major owners. We wish her and her new company continued success."

The boutique firm will provide services in asset management, project management, and consulting. Asset management services include cash flow maximization, operational reviews, benchmarking, sales and marketing assessment, budget reviews, revenue management evaluation, and capital expenditure planning. Under project management, Ideation + H will provide turn-key services for capital improvement and renovation projects. Finally, the company will offer additional consulting services, such as hotel rebranding, operator selection and contract negotiation, pre-opening planning, development feasibility studies, and union negotiations.

"The current market conditions have created many new opportunities, and I'm thrilled to start this exciting new chapter with my team," said Malkani. "But I couldn't begin this endeavor without the support and mentorship from the team at Millennium Partners. The last 25 years have been wonderful, and I look forward to our continued working relationship."

Hotels have been among the industry most damaged by the Covid-19 pandemic. A November PwC report expected annual occupancy to decline to 44% at US hotels in 2020. Revenue per available room, meanwhile, was expected to fall 47% from 2019.

The consulting firm expects a slow recovery in demand in 2021, with occupancy rising to 52.7%.