Even the best hotel management team
deserves affordable professional assistance.
Stephen W. Ayers.
One of the most basic human needs is to feel appreciated, and it is one
of the scarcest feelings around, especially for many general managers and
executive team members. I know, I have been there for many years.
They are saddled with a challenging yearly budget, a large and
complicated hotel operation, a multicultural cadre of human resources in every
department, hotel guests, suppliers and travel agents and a host of other
subjects that need fitting into every 24 hours!
In the days of old the General Manager was more of a social position,
mingling with the guests and making sure that all was to their satisfaction.
Human resources were secondary, and operational policies were strict and
followed to the letter.
Today’s hospitality industry is much different as we all know. OTA’s
rule a huge chunk of our room inventories, marketing and sales are closely
intertwined with revenue management, food and beverage trends change often,
guest expectations are at an all time high as are the public means to check their
satisfaction. Salaries increase along with the employees expectations for a
better working environment. Shortfalls in cleaning, maintenance and upkeep are there
for all potential customers to see on social media. Guests are looking for not
only a great stay for a meaningful stay at an establishment that cares about
the environment, community involvement and other causes.
Surely the management teams, striving to excel at all the complex
challenges, deserve professional assistance in their fight to make budget,
improve the profitability, ROI and their operations.
Expressing and showing appreciation
for ongoing management efforts in the operations is very much recommended, but assisting
them with professional assistance is no longer a shame.
In today’s complicated and operationally complex hospitality industry it
is commonplace to see asset managers involved and helping hotels and their
executive teams improve their operations. Asset managers of course cost money,
but invariably bring tenfold payback.
Professional asset management can bring calm to an operation and act as
a bridge between owners and their management teams or operators. They can not
only assist with invaluable advice based on experience but can bring
recommendations encompassing all aspects of the operations from audits,
physical and financial, that the team has no time for. Asset managers can take
up the slack left by the disappearance of many of the ‘controller’ positions,
and act as monitors for the management team in areas such as hygiene, food
procurement, production and storage, stocks of beverage and food, maintenance
and upkeep, service standards and many more. They monitor sales and marketing,
segmentation and targets to arrive at better ADR’s and investment in better
returns from higher value customer segments.
One vital area that asset managers take care of is scrutinizing the
financial results and bringing to attention line expenses that need investigation
and correction. Monitoring these expenses is time consuming but over the course
of my asset management career I have saved countless thousands of dollars in an
area where the general manager and team just do not have the time to take care
of.
The modern asset manager is an additional set of eyes for both the owner
and also the general manager, a support system that can help him achieve even
better results and that can earn him or her the real appreciation that they are
so deserving of.
Asset managers should be looked at as a way to improve the operations,
find new ways for revenue streams, cut down on unnecessary costs, monitor the
monthly results and critique positively. Sure, asset managers cost money, although
probably less than a middle manager, but can the independent operators afford
not to hire one to assist their operations, especially when it is almost
certain that their expense will be repaid so many times?
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