Hello everyone! Today, I would like to share with you, from the perspective of hotel owners, how to do a good job in the operation audit of hotel assets? Hotel asset management runs through all stages of the hotel life cycle, including hotel pre-development, market positioning, brand selection, management contract negotiation, planning and design, hotel opening preparation, hotel asset operation review, asset renovation and transformation, etc. Among them, the audit of hotel asset operation is an important task for owners to supervise hotel operations.
one, hotel assetsProduction and operation reviewThe goal of the nuclear
The goal is to use the hotel asset management system to improve and supervise the hotel operation, and increase the asset value by improving EBITDA, that is, to provide strategic and operational solutions for the owners through strategic and forward-looking systematic management of hotel assets, not only to enable the hotel owners to monitor the hotel assets in real time. Moreover, it can provide basic support for the long-term operation and management mode of the owner's hotel assets. The specific objectives are:
Oversee the business strategy of the hotel management to ensure that the return on investment of the owner is maximized.
Conduct regular inspections of hotel assets and provide solutions to enhance the value of hotel assets.
Represent the owners in the management of hotel assets and fully safeguard the interests of the owners.
2. The content of the hotel asset operation review
Through the supervision system of the hotel asset management system, we ensure that the interests of the owners are maximized. The scope of its service system covers not only the operational level, but also all aspects of the hotel's in-depth supervision and management
Review the hotel's daily financial statements.
Collect data on competing hotels.
Review the hotel's P&L statements, regularly evaluate and monitor the operating performance of the hotel's assets, analyze the hotel's monthly financial statements, and review the hotel's actual operations and budget material differences; Through benchmarking data, analyze the revenue of each department and business site of the hotel, operating expenses, profits of each department (rooms, catering profits, food costs, procurement**, etc.), administrative expenses, market share, marketing expenses and channels, sales of various room types, labor costs and labor efficiency, energy costs, fixed asset capital expenditures, etc.
Review the hotel's annual operating budget, annual marketing and sales plan, and fixed asset renovation plan;
Identify cost management opportunities to reduce operating costs; Oversee the hotel's operating expenses to ensure that effective cost control measures are in place, that operating expenses are in line with similar properties and industry standards, and that asset management cash flow is maximized.
Do a good job of benchmarking management analysis on a regular basis and provide solutions to existing problems.
Conduct interviews with members of the field management team to understand their level of experience and job responsibilities and establish working relationships.
Regularly meet with hotel management representatives to evaluate and oversee marketing sales and operations plans.
Regularly inspect hotel projects to ensure that the management team is effectively managing, marketing, and maintaining the hotel.
Monitor and evaluate guest satisfaction to ensure a high level of repeat business.
Continuously assess the strengths and weaknesses of key hotel management personnel and inform owners of the practices and effectiveness of the on-site management team.
Evaluate procedures and practices for staff training to ensure that employees all contribute to guest satisfaction.
Evaluate all pricing strategies and revenue management measures to ensure the hotel maximizes revenue per available room.
Monitor market conditions and assess how supply and demand characteristics affect an asset's revenue and profitability.
Make suggestions and opinions on the performance and assessment indicators of the general manager of the hotel.
By Northstar Hospitality Asset Management.