Hospitality & Real Estate

Assets need
values.

Where the ordinary will not do.

Where every aspect of your investment counts.

Where our personal commitment goes without saying, right to the end.

Strategic Hospitality Advisory Deal Sourcing & Transactions Asset Management

What We Do

Pasler & Partner is an independent, family-run boutique advisory firm for hospitality and real estate.

We guide owners, family offices and institutional investors through the entire lifecycle of an investment – from site and concept through operator selection and acquisition to development and exit. Our focus is hotel real estate in the DACH region, where we bring your capital together with projects that rarely reach the open market.

Our clients include owner families, institutional investors and banks. Many of them bring their own real estate experience and a portfolio to match, and are looking for a partner who also understands the operation. Those entering a new market find both local presence and an international network through which we bring the right people to the table.

Between us we combine more than 40 years in hotels and real estate – on the operator side as well as the ownership side – and have advised on transactions worth more than €2 billion.

Our clients value Our experience. Our sparring partnership. Our discretion.

Our Approach

A hotel investment passes through many phases. We are at home in every one.

The most expensive decisions are made early and show their effect late. That is why we think them through as a whole, from the start. From first access to exit.

Off-market access Site search Acquisition due diligence

Strategy & concept Product definition Feasibility

Design optimisation Operator search

Owner representation Schedule & cost control

Operator handover Owner representation Performance

Exit preparation Transaction

Acquisition

Concept

Planning

Construction

Operation & Hold

Exit

Deal Sourcing Strategic Hospitality Advisory Asset Management Transactions

Acquisition

Deal Sourcing

Off-market access · Site search · Acquisition due diligence

Concept

Strategic Hospitality Advisory

Strategy & concept · Product definition · Feasibility

Planning

Strategic Hospitality Advisory

Design optimisation · Operator search

Construction

Asset Management

Owner representation · Liaison with designers and contractors · Schedule & cost control

Operation & Hold

Asset Management

Operator handover · Owner representation · Performance

Exit

Transactions

Exit preparation · Transaction

Services

Across the entire value chain – in the role your project requires.

What we deliver across every phase of a hotel investment, we bring to other asset classes as well – to single projects as much as to entire portfolios. Advising, negotiating or taking responsibility for standing investments, always from the owner’s perspective.

01 /

Strategic Hospitality Advisory

We see what others don’t.

A hotel is two things at once: a property and an operating business. Judge only one of them and you miss where the value is actually made.

We guide owners and investors in acquiring and developing properties that secure their return on capital over the long term – from feasibility and market study through acquisition due diligence, product conception and operator selection to exit strategy.

“The question is not which operator offers the highest rent, but which will still be paying it in ten years.”

Mag. Franz Pasler Managing Partner

Details

Site and feasibility analyses for hotel and accommodation projects
Product definition: positioning, segment, target market, operating concept
Floor-plan optimisation for new build and conversion, developed jointly with architects – balancing operational flow, capital cost and return
Operator search and negotiation of lease, management and franchise agreements
Financial feasibility and business plan built on operating metrics (gross operating profit, net operating income)
Restructuring and turnaround advice for distressed operations and projects
Market and location analyses (market trends, demand and supply dynamics, site assessment)
Development of use and realisation concepts (highest & best use, change of use, densification)
Portfolio strategy and optimisation (asset allocation, portfolio review, repositioning)
Market entry and expansion strategies for Austrian and international investors in the DACH region
Acquisition and disposal strategy – execution is handled by Deal Sourcing & Transactions

02 /

Deal Sourcing & Transactions

Building bridges between potential and capital.

Once the strategy is set, we originate, structure and lead the transactions that follow – from first access to closing.

Based in Vienna, and through a network built up internationally over the years, we reach owners, operators and capital providers directly. Some transactions become known to the market only once they have closed. Institutional investors value that discretion – family offices more than anyone.

“Access is never available on the day you need it. It is earned in the years before anyone asks.”

Franz R. Pasler, MSc Managing Partner

Details

Off-market access through networks, direct owner approach and operator contacts
Proprietary deal flow: long-standing investor, vendor and banking relationships
Screening and pre-selection of investment and development opportunities
Investment theses, initial valuation and pricing
Structuring: asset deal or share deal, forward funding, joint ventures, sale-and-leaseback
Financing structure and alignment with equity and debt providers
Coordination of due diligence and structured bidding processes
Negotiation of the letter of intent (LOI), term sheet and purchase agreement – as lead or in support
Signing and closing management, post-closing handover
Disposal mandates and exit support, including cross-border transactions within the DACH region

03 /

Asset Management

Your properties deserve the best.

We don’t just manage property portfolios – we take care of them. Through strategic initiatives we optimise the performance of your assets and unleash untapped potential. Our aim is not only to preserve the value of your portfolio, but to increase it over the long term.

Investing in hospitality assets calls for a steady hand and deep knowledge of the sector. We take on owner representation as the link to the operator and, in ongoing performance management, deliver clear analyses and strategies for optimal operational efficiency.

“The most expensive investment in a building is the one that was put off too long.”

Mag. Franz Pasler Managing Partner

Details

Hotel and operator

Owner representation towards operators: budgets, business plans, performance reviews
Performance management: managing GOP and NOI, benchmarking, cost control
Contract compliance and capital expenditure monitoring; renegotiation of existing operator agreements
Operator change and handover management

Construction and development phase

Owner representation as the link to designers, main contractors and the authorities – we do not run the build, we represent your interests within it
Schedule, cost and quality control on the owner’s behalf
Commissioning, handover to operations and defects management (snagging)

Standing portfolio

Asset business plans per property, value-add initiatives, repositioning, capital expenditure (capex)
Lettings management, oversight of property and facility managers
Property-level reporting, cash-flow management, reporting to owners and lenders
Exit preparation and sale readiness

No two projects are the same. A first conversation usually shows where we are most useful. Do get in touch.

Clients

In good company.

01 / 02

A selection of our clients. We never speak about their projects.

Case Studies

Selected mandates.

01 / 06

Case Study 01

Private Equity Real Estate Fund

Strategic Hospitality Advisory | Deal Sourcing & Transactions | Asset Management

Length of mandate in years

015+

Institutional investor focused on hospitality projects with mixed-use components across Europe. Value-add strategy deploying a further 50% to 70% of capital on top of the acquisition price.

Case Study 02

Banking Group

Strategic Hospitality Advisory | Deal Sourcing & Transactions

Length of mandate in years

015+

Leading financial institution serving more than 40 regional banks, with strategic investments in real estate.

Case Study 03

Family Office of an Entrepreneurial Family

Strategic Hospitality Advisory

Length of mandate in years

05+

Private owner of a multinational corporation offering goods and services and managing investments on five continents. Beginning to invest in hospitality.

Case Study 04

Public Sector, Tourism

Strategic Hospitality Advisory

Length of mandate in years

05+

Public authority with powers of direction over policy in culture, the arts and tourism, and over strategic development projects.

Case Study 05

Private Foundation

Strategic Hospitality Advisory | Asset Management

Length of mandate in years

05+

Family foundation with an existing real estate portfolio. The foundation’s purpose is to preserve the historic family estate from the income of its investments.

Case Study 06

Project Developer, Logistics

Deal Sourcing & Transactions

Length of mandate in years

05+

Developer with a proven track record in Germany, building a project pipeline in Austria. Focus on last-mile logistics around strategic metropolitan areas.

Who we are

Trust – it’s a family affair.

When there’s a lot at stake, it’s good to know where you stand.

We speak the language of institutions and value communication on an equal footing above all else. We are Franz and Franz R. Pasler, father and son, who turned their companies into a true family business.

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Mag. Franz Pasler

Managing Partner

What sets Franz Pasler apart from other hospitality specialists is that he has made his mark on the industry as both an operator and an owner – and has done so for over 30 years. This has endowed him with a keen eye for the bigger picture and enabled him to give his clients ideas that, while not always immediately obvious, are precisely the right ones to get the most out of their projects. This passion for new approaches and his personal commitment are what make Franz Pasler stand out and have earned him the reputation that he now enjoys among investors and in the hospitality industry.

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Franz R. Pasler, MSc

Managing Partner

Franz R. Pasler has a long track record of leading negotiations for complex international real estate transactions for one of Europe’s largest project developers – at the time also Europe’s largest hotel developer. This makes the qualified property developer an experienced real estate expert who will remain calm and collected and, most importantly, never lose sight of the essentials, even when time is extremely short and a lot of capital is in play. This is also thanks to his entrepreneurial spirit. Having founded and launched a number of companies and projects, Franz R. Pasler is highly conversant with the challenges found in the business and real estate world – and how to overcome them.

40+ years of combined experience in hospitality and real estate

€2bn transaction volume negotiated and guided by the partners

15+ years, longest mandate

4in5 mandates come through referral

Our values

Independence We answer to no one but our client.

Integrity We resolve competing interests before they collide.

Responsibility We recommend nothing we would not underwrite ourselves.

Discretion What takes shape in our conversations stays there.

Continuity We are still there long after the deal is done.

Contact

Tell us about your project.

We take the time, and we tell you quickly whether we are the right people for it.

Pasler & Partner GmbH
Zieglergasse 53/1/8
A-1070 Vienna, Austria

office@pasler-partner.at

Assets need
values.