20th Oct 2014
Often, the sole reason that prevents a struggling hotel owner from hiring a hotel management consultant is simply a misunderstanding or ignorance of what such consultants do. Not only can experienced and knowledgeable hotel management consultants assist with identifying issues in the bigger picture of a struggling hotel project, they can also identify specific problems and assist with virtually every aspect of the hotel as an operating business.
Areas Supported by Hotel Management Consultants
Hotel management consultants can assist hotel owners and operators with:
- Human Resources: From setting up a functioning human resources department to handling the outsourcing of many HR functions.
- Sales: Consultants understand the one thing many newcomers to the hotel industry do not: that hotels are built on sales. One difference between hotel sales and other sales is that the hotel product is self-perpetuating and can be resold over and over again. Conversely, the lost revenue from an unsold room (like an airline seat) cannot be recaptured.
- Cash Flow: Consultants are experienced in revenue management, from short-term promotions to boost immediate cash on hand to long-term strategies.
- Customer Service: Attracting guests and retaining their business are not mutually exclusive, and consultants understand this crucial truth about the industry.
- Marketing: Consultants are familiar with every aspect of the hotel industry and the local market and can assist with or create a marketing plan for any hotel. They can also assist in getting the maximum productivity from the hotel brand’s marketing efforts.
- Accounting: Consultants can help create processes and identify resources and professionals who can simplify and track accounts, handle refunds and discounts, payroll and payments.
- Direct Management: If needed, consultants can be brought in to handle the day to day operations of the hotel and to provide the right people in leadership positions. Additionally, they can solicit, evaluate and negotiate agreements with independent hotel management companies.
- Technology: The hotel industry, once moribund technologically, has led the way in recent years, embracing new technologies that improve the overall hotel experience.