Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.
– Unkown
Asset Management Hotels & Restaurants
Assessment upon assignment
Sales & Marketing / Revenue Management
- Review of Sales & Marketing plan Rooms
- Review of Sales & Marketing plan Food & Beverage
- Review of Social Media strategy and positioning
- Review of market share (STAR report)
- Review of Sales pipeline
Operations
- Review of Operations procedures
- Review of HR policies
- Review of Labor contract
- Review of Guests satisfaction surveys
Finance
- Review and analysis of Profit & Loss report (P&L)
- Review of Balance Sheet and Cash Flow
Building
- Review of Capital Expenditure (Capex plan)
- Visit of plant
Management company
- Review of management/franchise contract
- Review management/franchise company’s delivery and ROI
Services
Strategy
- Develop a Strengths, Weaknesses, Opportunities and Threats analysis (SWOT)
- Help develop a one year- and five year- strategy plan fitting Owning and
- Management companies’ objectives
Permanent analysis
- Daily and weekly analysis of revenue and market share
- Monthly reviews (S&M, Revenue Management, Operations, HR/Labor, PR, Sustainability Initiatives)
Building
- Regular visits of building
- Capex reviews and monitoring
- Assessment and relevance of every point of sales
- Optimization of square footage profitability
Management & Operations
- Guests satisfaction review
- Employee satisfaction analysis
- Analysis of Management team performance
- Review of Training plan
- Meetings with Corporate officers of Management company and understanding of their strategy and efficiency
Sales & Marketing/Revenue Management
- Review of daily/weekly/monthly STAR reports
- Review of Social media reports
- Benchmark of entity within market (social media, financial results, quality)
Finance
- Monthly reviews of P&L and Capex and subsequent analysis
- Return On Investment (ROI) analysis
- Budget approval
Owning Company
- Studies on behalf of owning company (Strategy, Re-positioning, ROI, remodeling, refinancing, costs to ownership)
- Challenge of Management/Franchise company
- Constant analysis of relevancy of investment
- Progress report on positioning and results
Branding & Strategy
Analysis but no paralysis
- Challenge efficiency of all third party companies (Management, Franchise, PR and Communications, Branding, Social Media, etc.)
- Evaluate relevancy of concept(s)
- Review rate positioning and benchmarking
- Calculate Return On Investments
- Market perception analysis
Strategy
- Develop short and long term strategy
- Define the low cost/high impact initiatives to take
- Create a long term strategy for all concepts
- Review square footage usage and ROI
Mystery shopping
Types and styles of entities
- Hotel, Restaurant, Bar, Spa, Club lounge
- Cruise lines, Airlines
- Full service, Limited service
- Luxury, Lifestyle, Resorts
Assessment (part or full)
- Analysis of website and ease of use
- Report on sales process
- Report on reservation process
- Integration of Brand standards
- Improvement of standards
- Service assessment
- Cash payment
- Hardware assessment
- Emotional assessment
Suggestion from a customer’s standpoint
- Improvement of concept
- Improvement of service
- Improvement of menus
- Improvement of hours
Revenue opportunities
- OTAs,
- Brand or Entity website
- Upsell
- Revenue producing services
Market analysis
- Benchmark with competitive concepts
- Suggestion of various concepts to develop
Pre-opening
First phase
- Definition of concepts and space usage
- Support with local authorities
- Analysis of local rules & regulations
- Creation of critical path
Second phase
- Construction/Renovation
- Support with Architects, Engineers, Designers negotiations and follow up
- Information Technology infrastructure
Procurement
- Vendor selection and negotiation
- Ordering, management of orders, delivery
Human Resources
- Support for recruitment of Executive and Management teams
- Support for recruitment of line staff
- Support for all HR and Labor related tasks
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Policies
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Organization
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Health care
- Payroll company
- Training plan
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Sales & Marketing
- Development of S&M plan
- Choice of Branding agency, PR/Communication company
- Choice of Digital Marketing agency
Revenue Management
- Meeting with Digital Marketing agency
- OTA strategy and set-up
Finance
- Development of financial reporting procedures
- Check & Balance
Operations
- Definition of Standard Operating Procedures
- Choice of OS&E
- Choice of vendors
Feasibility studies
Feasibility studies
- Study site location and its environment
- Obtain 10 year real estate future development plans from City government
- Risk and Opportunity study
- Global cost of project: construction/renovation; architecture, engineering, commodities, payroll, taxes, licenses, etc.
- Definition of a competitive set
- Evaluation of the competitive set
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Product and offer
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Clientele
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Occupancy and Rates reports (Smith Travel Research) past and future
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- Financial results through a Financial third party
- Definition of product (number of rooms, F&B and other amenities, classification)
- Definition of economic model (brand, managed, franchized) and positioning
- Selection process of third party franchise/management/brand company
- Creation of a 10 year financial projection (pro-forma)
- Calculation of financial ROI (IRR, NPV, Cash Flow)
- Prepare a high level Sales & Marketing plan
- Extra: Create a formal business plan
Other Services
Foreign companies development strategy in the US
- Market study
- Support to establish and manage the US branch
Food & Beverage
- Concept, profitability analysis, HR implication
Renovation project
- Concept, choice of architect, designers, engineering firm, management
Training
- Assessment of needs with Executive team
- Integration of Training strategy in HR strategy
- Definition of the organization culture with Executive/Management teams
- Elaboration of SOPs, job descriptions, training schedules
- Determination of modules to present
- Customer focus:
- Concierge culture, Service attitude, Customer Relationship Management
- Role play
- Management: The Essentials of Luxury Hotel Management
- Strategy, Marketing, Sales, Revenue Management, Human Resources, Operations, Quality, Profitability/P&L analysis, Asset Management
- Customer focus:
“Don’t be afraid to give up the good to go for the great.”
“If you don’t have a competitive advantage, don’t compete.”
“Management is all about managing in the short term while developing the plans for the long term.”
"Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime."
“I never dreamed about success, I worked for it.”
“Things may come to those who wait, but only the things left by those who hustle.”
"The way to get started is to quit talking and begin doing."
"I find that the harder I work, the more luck I seem to have."
“Excellence is the best deterrence to racism and sexism.”
“Opportunities don’t happen, you create them.”
“The best way to predict the future is to create it."
“Logic will get you from A to B. Imagination will take you everywhere.”
“The one who believes in himself or herself has no need to convince others.”
"A goal is a dream with a deadline."
“Face reality as it is, not as it was or as you wish it to be.”
"Choose a job you love and you will never have to work a day in your life."
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”
"Our greatest glory is not in never falling, but in rising every time we fall."
Some people dream of success while others wake up and work.
The only limit to our realization of tomorrow will be our doubts of today.