30 years of established experience in hotel, resort development and management services.
We work with the operational philosophy of approaching each project as if it were distressed.
A TRADITION OF EXCELLENCE
Flagship Services Corporation, with headquarters in San Juan, Puerto Rico, boasts over 30 years of established experience in hotel and resort development and management services. Also offering expertise on consulting, oversight and asset management, receivership services, technical and pre-opening services to the hospitality industry for Puerto Rico, Caribbean and Hispanic markets.
KEY STRENGTHS
- Efficient and effective turn-around of financially-distressed properties. We work with the operational philosophy of approaching each project as if it were distressed. This has allowed FSC to successfully achieve optimum service levels while delivering positive financial results.
- Consistent production of above-average revenues and below-average operational costs.
- Optimization of cash flow and return on investment for investors, lenders and developers.
ABOUT FLAGSHIP CORPORATION
Established in 1986
By veteran hospitality professional Richard E. Abati.
The firm operated as an independent hotel development and operating company in Texas, overseeing a range of projects for the Resolution Trust Corporation in numerous states of the United States, as well as independent projects for private entrepreneurs in Puerto Rico.
Abati brought to FSC the expertise acquired as a Senior Executive for American Airlines’ Flagship Hotels subsidiary, later renamed Americana Hotels, Inc. He was key in the financial turnaround of several Americana Hotel properties (including the Americana San Juan) in the early 1970’s.
In 1991, Richard Abati teamed up with Rick Newman and, together with Flagship, took on the reengineering of the financially-troubled Sands Hotel & Casino in Isla Verde, a key tourist district in the Puerto Rico Metropolitan Area. Through their efforts, the Sands became one of the strongest competitors in the market.
In 1997, the Sands was purchased by Donaldson Lufkin & Jennrete’s (DLJ) Real Estate Capital Partners I (RECP I), which based on FCS’s track record retained the company as operator and project manager for a major renovation of the hotel property. In 2000, having successfully reached its targeted financial objectives, the property was sold to the InterContinental Hotels Group.
Today, Flagship Services Corporation, presided by Rick Newman, is an ever-evolving leading hospitality organization with demonstrated expertise in a range of areas that include operational, marketing, and development services to individual investors, lenders, and developers.
Management Philosophy
FCS’s philosophical approach to successful hospitality management is guided by three overreaching principles.
- Investor/Owner Satisfaction – Meeting and exceeding predetermined criteria for successful property management. We aim to provide management services that optimize cash flow and return on investment.
- Guest/Client Accommodation – Guest satisfaction is a primary force driving FCS’s managerial decisions, standing on the foundation that the client experience directly impacts a property’s financial success.
- Employee/Staff Motivation – The importance of the effective management of the human resource asset cannot be over- emphasized. Successful employee motivation and performance is only possible with effective leadership.Each management plan is carefully crafted and driven by an exhaustive analysis of all financial considerations including revenue sources, operational costs and ancillary expense items – which in turn allows FCS to develop a custom operational and financial blueprint for the property.
MEET OUR TEAM
Fredrick “Rick” Newman
President & Chief Operating Officer
Fredrick “Ricky” Newman, Jr.
General Manager, Verdanza Hotel
Roberto Rodriguez
Vice President Finance
CLIENT PORTFOLIO
- Verdanza Hotel
- Caparra Country Club
- Rincón Beach Resort
- Cayo Largo Resort, Spa & Golf
- San Juan Grand Beach Resort & Casino
- Ritz Carlton San Juan
- Renaissance Aruba Resort & Casino
- Costa Bonita Resort Villas
- North Redington Beach Hilton
- Best Western San Juan Airport Hotel & Conference Center
OUR PROJECTS
Verdanza Hotel
As developer, majority stockholder, project manager and operator, FSC operates a 222-room full-service hotel that encompasses over 16,000 square feet of meeting and banquets facilities and four food and beverage outlets – with a total investment of $35,000,000. The property stands as the only independently owned and operated full-service hotel in Puerto Rico’s San Juan Metropolitan Area.
Caparra Country Club
For over seventy years, the Caparra Country Club located in the affluent San Patricio area of the city of Guaynabo, Puerto Rico, has been serving the social, recreational, and sporting needs of its members. The Club, organized in 1944, now serves over 1,000-member families, many whom are third generation members.
In 2003, the Club began a multimillion-dollar renovation capital improvement program in line with the evolving needs and interests of its membership. Under a five-year contract, Flagship Services Corporation managed and operated the Club on behalf of its Board of Directors and its members.
Rincón Beach Resort
FSC was contracted to provide technical advice during the development and construction phases of the project. The company was subsequently retained and successfully managed and operated the 118-room award-winning resort from 2001 to October 2008, playing a key role in strengthen the positioning of the Porta del Sol tourism region on Puerto Rico¹s west coast.
Cayo Largo Resort, Spa & Golf
Flagship, together with RECP-Credit Suisse, has acquired interest in the most important hospitality property presently under construction in Puerto Rico, Cayo Largo Resort – a luxury, hotel/resort/residential community that broke ground in 2001 and was halted in 2003.
Flagship provides Owner Representation and Project Management for the investment group that is redeveloping this project. The property is slated to become operational in the fourth quarter of 2018.
Puerto Rico Fast Ferries
The ferry at Ceiba terminal is an easy and affordable way for tourists to visit the popular Vieques and Culebra. As of October 2018 the ferry service has drastically improved by moving the ferry terminal from the previous location of Fajardo, to Ceiba, which has reduced travel time. Currently Puerto Rico Fast Ferries is running 2 passenger boats: Big Cat (capacity of 370 passengers), Schoodic Explorer (Capacity 149 passengers).
Renaissance Aruba Ressort & Casino
In 2007, Credit Suisse RECP and Flagship Services Corporation, together with a group of international and local investors in Aruba, acquired interest in the 40-acre property. The Resort features 556 hotel rooms, casino and spa facilities, and a convention center with 22m square feet of function space. FSC’s participation includes Owner Representation and Asset Management.
Costa Bonita Resort Villas
FSC acted as technical advisor prior to and during construction, subsequently operating the property in Culebra, an island municipality off the southeast coast of Puerto Rico. FSC terminated its involvement in the project when the concept shifted from a hotel to second-home condo apartments.
North Redington Beach Hilton
The North Redington Beach Hilton opened in Tampa, Florida, in June 1987, and was initially managed by an inexperienced owner with limited hospitality background. As a result, the hotel quickly suffered from poor performance. Flagship Services Corporation was retained to execute a quick turnaround of the property.
Within 90 days, Flagship designed and implemented a three-year marketing plan, new food and beverage concepts, training programs, and standards of service. These efforts generated immediate and dramatic increases in occupancy, average rate, and margin. The North Redington Beach Hilton’s actual operating results exceeded those set forth in its budget following FSC’s repositioning of the property.
CONTACT US
TELEPHONE
Service: 787-791-2332
FAX: 787-791-2246
ADDRESS
Flagship Services Corporation Tartak Street 8020 Carolina, PR 00979
BUSINESS HOURS
Monday – Friday: 9:00 am – 9:00 pm
Saturday: 9:00 am – 12:00 pm
ASSOCIATIONS, AFFILIATIONS, FRIENDS & VENDORS
