Management

Five Key Asset Management Tasks Are:·

• Asset Acquisition: Develop a focused asset acquisition strategy for optimum revenue and ROI generation.
• Asset Development: Analyzing, creating and building the right concept for the market.
• Asset Utilization: Utilizing assets effectively and to its maximum profit and value potential.
• Asset Performance: Measuring and controlling asset performance over time to maximize owner investment.
• Asset Realization: Defining the best moment to sell or re-invest in the asset.

Hotel & Hospitality Management's most basic functions are:

• Finance – Registration, organizing, controlling and analyzing all assets, inventories and money flows;
• Distribution – Marketing, PR, sales, channel management, revenue management and other technologies that will bring us guests;
• Operations – All needed activities to receive, accommodate, delight and receive payments from guests and partners.
• Security – Preventing and handling all safety and security issues that may cause harm to guests, employees, inventories, assets and reputation of the company.

Hotel & Hospitality Pre-opening Services:

The process of opening is the most active part in the asset life cycle - Staff recruitment, budgeting, equipment search, preparation and implementation of a sales plan and many other important activities. Getting ready and doing all activities necessary  to receive the first guest, is the pre-opening period. 

• Pre-opening Planning: If we don't know what to do, where and when, it’s impossible to manage and control the process. We therefore must have a plan. What’s the right balance between too much and too little, to get a plan that works and allows to control the process? As soon as we need something before another task, it must be in the plan. If a task is important to the success of the project, it must be in the plan. Does that mean everything needs to be in the plan? No, of course not.
• Team & Hiring: There are different opinions on who to hire first? Somebody hires the financial director first, somebody the chief engineer, somebody the management company or the general manager of the asset (hotel). There’s not just one way to do this and a choice needs to be made that balance project needs and costs.
• Pre-opening Management: Getting the building and management system ready for use. During this phase, the building will still be under construction, furniture and other deliveries, builders continuing to work, etc... Anything related to building renovation/construction and design is already in the project plan. Here, we focus on the management side of getting things ready. Organizing means having a system and communication with regular checks.

In some cases, hotel and hospitality businesses does not just face problems, but becomes hostage to a crisis situation. It can be caused, both by external circumstances (change in the economic situation in a country, region or city) and internal (inefficient management). Such situations, require clear and quick crisis measures. Understanding the underlying problems is crucial to getting out of the crisis. The primary step in crises management is to diagnose the cause and to develop structured actions to redress the situation.

• Hotel and hospitality audit - Analysis of the causes for the current crisis

• Development and implementation of an action plan for managing the situation and removing the crisis