HOTEL & RESTAURANT MANAGEMENT
HOTEL & RESTAURANT MANAGEMENT
PropertyBIZMAG Vietnam: A SUPERIOR HOSPITALITY MANAGEMENT COMPANY
Rarely does a Hotel Management Company take a hands-on approach in such diverse areas as property operations, customer relationship management, direct sales management, and human resource development. PropertyBIZMAG Vietnam takes pride in our expertise in these functions as well as a number of others that affect the customer experience and owner profitability. With extensive knowledge of hospitality marketing and corporate hotel management based on years of direct experience in the hotel and resort industry, our company’s top executives are uniquely qualified to help each property gain exposure and achieve the ultimate in guest service and market penetration.
Utilizing time-tested and proven strategies developed through years of service as Operators and Corporate officers, PropertyBIZMAG is a Hotel Management Company that offers a diverse selection of services to asset owners, including: Hotel Management, Asset Management, Acquisition, Investment Return Analysis, Asset Disposition, Sales and Marketing, Technology Consulting.
The focus of asset management has shifted to driving ADR and Occupancy. And with our proven yield strategies we systematically increase the REVPAR and GOPPAR of hotels.
With an innovative force and movement of change for independent hotels, we challenge the established order, and do not accept the status quo of the market. Instead we take initiative, make things happen, and set new trends in the global hotel industry.
Our Key Hotel Consulting, Development & Hotel Management Services include:
Hotel Development & Pre-Opening Services
Cost Control, Budgeting & Financial Performance Review
Hotel Sales Planning & Marketing
Hospitality Employee Recruiting, Training & Relations
Capital Expenditure Planning
Hotel Renovation & Project Management
Hotel Operations Management
Hotel Development & Pre-Opening Services
Hotels are different from other types of real estate investments primarily due to their daily occupancy and revenue fluctuations, the requirement for specialized management, and labor intensity. Understanding the cyclical nature and dynamics of hotel markets are critical to good investment decision-making. An initial analysis of market and financial feasibility is perhaps the most important aspect in hotel investment decision-making.
Our hotel consulting staff has years of experience in hotel development and operations management. The hotel consulting services we provide are unique for each project we undertake, and are therefore tailored to meet each client’s individual needs. Our experience makes us ideally suited to assist you with your hotel develpment project, from feasibility study to pre-opening and opening.
Analyze and verify feasibility studies
Assist in site selection and evaluation
Coordinate hotel demand studies
Prepare financial pro forma
Prepare preliminary construction and related cost estimate
Coordinate hotel room design and F&B areas
Coordinate architect, engineer, land planner, and/or interior designer
Coordinate layout/procurement of hotel furnishing, kitchen and lounge equipment, laundry equipment, and commercial area furnishings
Coordinate all computerized areas – front desk, energy management, restaurant, administration
Coordinate the telephone system, key and lock system, and audio visual system
Specify/procure ice machines, vacuum cleaners, maid carts, etc.
Interior Design Assistance
Interview and recommend a design firm
Assist the interior design firm with the furnishing specifications:
Lobby, corridors and meeting rooms
Restaurant and Bar
Construction Project Management
Function as project manager
Act as general contractor
Coordinate input with architect, engineer, etc.
Consult with owner on bids, changes and/or selecting General Contractor
Take bids on project
Perform pre-opening inspections and punch list for hotel
Create and implement the pre-opening marketing plan
Assemble pre-opening budgets (working capital, food, beverage, linens, china, etc.)
Recruit, interview, and hire all key management and sales personnel
Train all key personnel
Recommend advertising agency
Establish definitive objectives and action plans for all departments
Obtain business licenses
Develop pricing for rooms, food and beverage
Develop specifications and bids on building insurance
Coordinate the procurement of guest supplies and employee uniforms
Interface with potential hotel concessionaires
Develop employee benefit program and policy manual
Hotel Cost Control & Financial Review
Years of hotel management experience has taught us what revenue and expense items to track. These are important distinctions when operating a hotel in the real world, where the goal is to meet and exceed profit targets. Our information gathering and reporting systems are designed to provide efficient
use of hotel staff and technology – and to insure that our experts has the necessary operational statistics and details to provide cost-control oversight.
Detailed operating budgets are used to carefully control spending because good control on expenses is critical to achieving excellent operating margins. PropertyBIZMAG implements and monitors strong internal controls which are critical to preventing losses through fraud and theft. We ensure that accepted risk management practices are being followed in order to reduce exposure.
All of this is designed to maximize the potential of your property by producing the best possible bottom line and increasing its eventual sales value.
A powerful financial system is crucial to achieving maximum profitability. We pride ourselves on our strength in developing and administering strong financial controls. Some of the key features of our approach are:
A centralized, standardized accounting system managed by the local, on-site accounting team with corporate backup and support. Financial information and reports are available in real-time to managers and owners. If you have a suitable existing accounting system, we can adapt to it.
Tight Expense Control
We recognize that expense control is a powerful tool to maximize the bottom line. We provide our local staff with daily financial reports for immediate feedback on expenses and, we monitor staffing levels closely. Typically, we operate a hotel with 75% the overhead personnel compared with other management companies.
Performed on a routine basis to ensure compliance with all accounting and operational procedures and controls to protect your asset.
Customized Owner Reporting
In addition to a standard monthly financial package, cash flow analysis, annual budget and monthly forecasts, we will customize any additional reports based on the needs of ownership.
Hotel Sales and Marketing Services
A good marketing plan is like a trusty road map. It tells us where we’re going, how to get there and, most importantly, lets us know we’re there when we’re there. Long-range thinking is more than just going through the motions. A hotel sales department requires a vehicle that will enable it to fulfill its overall business objectives.
The Annual Market Plan is the sales department’s strategy to achieve the desired results, including hotel revenue management. This report includes a market segment analysis that constitutes the hotel’s business objectives . . . a means of deciding the direction of the hotel and sales department within the framework of the objectives of PropertyBZIMAG Hospitality Services.
A strategic Sales and Marketing Plan is created each year for each PropertyBIZMAG property.
The tactical initiatives of this plan (Sales Action Plan) are reviewed monthly to ensure property compliance.
The plan is also reviewed each month between the Director of Operations and the General Manager to determine any new approaches that could better market the hotel.
PropertyBIZMAG monitors coordination between property and franchiser marketing, ensuring that properties capitalize on all marketing opportunities and support provided by their franchiser.
Hotel Internet Marketing Strategies
Business generated from the Internet is rapidly on the increase.Whether you are an independent or branded hotel, a major hotel chain or hotel management company, you can stay ahead of your competitors and capture new market share with an effective Direct Online Distribution Strategy. The center-point of this strategy is the development of the hotel’s own web site, in addition to utilizing e-marketing tools.
As part of your comprehensive Total Online Distribution Strategy, PropertyBIZMAG can assist in:
Evaluating the overall use of the Internet as a hotel marketing tool.
Development and deployment of the hotel web site.
Perform a web site Optimization Strategy to make your existing hotel web site user-friendly, search engine-friendly and travel booker-friendly.
Perform a robust Search Engine Strategy designed to improve your web site positioning on search engines in order to boost direct consumer bookings.
85% of Internet users rely on search engines to locate information on the Web and that search patterns for accommodations are strictly destination-focused.
Providing Hotel Human Resource Management Solutions
PropertyBIZMAG abides by a philosophy that honors the employee through effective communication, proactive employee programs, training, and benefit programs. PropertyBIZMAG properties operate under a set of Human Resource Guidelines that provide the proper steps for the management of employees.
Implementation of employee training and motivational programs
Communication of key goals and objectives with all management staff
Acquisition of wage survey to establish competitive wages and benefits by market
OSHA required reporting and safety training
Provide recurrent training for established employees
Creation of esprit de corps among key department heads and all employees
Compliance with all government regulatory reporting and training requirements
Hotel Capital Management & Planning Services
The selection of effective capital expenditures is critical to the short and long term value of the hotel.
Strategic planning is needed to insure that cash reserves will be sufficient when the required improvements are required. Short and long-term planning is needed to insure that cash reserves will be sufficient to meet the cost of improvements to be made, as scheduled, to maintain (and enhance) the value of the hotel.
PropertyBIZMAG will work effectively with the owner to establish the amount of reserves that should be set-aside for capital expenditure on an ongoing basis. While a general rule of thumb for the level of repairs and maintenance, is approximately 3-4% of hotel’s revenue, this amount can vary with the age of the property, and declining revenue levels.
Each year, PropertyBIZMAG updates a short-term and long-term capital plan for each of our client hotels. A complete report is presented to ownership for assistance in assessing upcoming capital improvement planning. This ensures that you, as the owner, are not faced with unexpected capital expenditures.
Is your hotel “behind the curve” regarding amenities and services that are now expected to support top rates? Are you losing business because of external corridors or inadequate safety features? Does a change in Franchise affiliation require major physical changes?
Among the changes in guestroom and hotel design that are driving many renovations:
Better beds and bedding, in both comfort and quality of material
Smart TV or HD TV with flat screen mounted on the walls of hotel rooms to take advantage of their space-saving design, and offering profesional & modern hotel image.
Adoption of local themes in exterior architecture, public space décor and restaurant themes (particularly in the upscale and upper-upscale hotels)
Free High speed internet access based on comments from an increasing number of guests expressing this as an important amenity
Electronic “function boards” and directories and generally better signage
Whatever your property’s needs, PropertyBIZMAG is ready to assist in planning and implementation of your hotel renovation project.
Hotel Operations Management
PropertyBIZMAG management philosophy is to approach each property with consistent core objectives while taking a “hands-on” approach toward management. Our core hotel management objectives are:
Increased Revenue Generation
Implementation and adherence of Expense Controls
Superior Operational Standards and Efficiencies
Well trained and motivated employees
Owner satisfaction and profitability
Our team will work directly with the Hotel Management team crafting goals and objectives for the property, and then we work together on achieving the desired results. Access is a revenue growth driven company that believes the operation supports the sales efforts. This sales focused approach combined with strong operational disciplines leads to increased revenue and owner profitability.
We staff our hotels with strong General Managers who already understand our management culture and have proven their capabilities. We provide them with state-of-the-art management and financial support systems and hold them accountable for results. Some characteristics of our management include:
Decentralized Operations Authority
Centralized support systems and latest technologies support the local GM. Daily forecasting and accountability for labor and related costs allow the GM to manage in real time.
Regular Performance Reviews
Monthly reviews and comparisons with the Annual and Quarterly plans. We create action plans to capitalize on opportunities and to address challenges. Results-driven performance measurements for hotel and personnel evaluations.
Maintenance and Asset Protection
We develop formal, written asset protection and preventive maintenance programs that involve all employees and include checklists for quality assurance.
We pride ourselves on smoothly-running hotels that meet the owner’s objectives. We are not satisfied with average performance. Hotels under our management consistently produce above-average revenues and operate at below-average costs.
Operational, Financial & Facility Assessments
Before a course of action can be determined, asset managers must first know what they have and what the options are. Access can assist you by providing the following:
Basic information about the condition of the physical premise
Local market conditions
Assess and compare the subject property to its competitors
A review of operating procedures, systems & controls
Staffing and operating policies
Quality of product and service
An opinion of strength of senior management
Financial Review (Remote and/or Onsite)
Financial statements, records and reports
Cash control methods
Sources of data and financial process
Line-by-line Profit & Loss assessment against industry standards
Property Acquisition & Development
Full due diligence
Construction and renovation management including design assistance
Design recommendations and review
Assistance with contractor selection and review
5 year financial budget preparation
Investment return analysis
Assist with preparation of project plans required by lenders
Franchise affiliation including evaluations and agreements
Review and assist in preparation of project budgets
PropertyBIZMAG provides quality asset management services, drawing on years of operating experience on behalf of a variety of owners and ownership groups. Our combination of hotel analytical knowledge and extensive operational experience provide us with the experience required to develop the strategies and management practices that will result in increased cash flow and asset value.
We have complete expertise in all areas of hotel operations and can assist in evaluating entire properties or specific divisions. We then provide specific recommendations and strategies to enhance the operation.
PropertyBIZMAG provide consulting services covering a wide range of subjects including operations, marketing and financial structure:
Evaluation of owners goals and objectives
Operational and Marketing Analysis
Repositioning & Rebranding
Financial Underwriting & Modeling
Pro forma Development
Property Improvement Plan Management
Revenue Strategy Implementation
Pre-Opening Procurement and Marketing
Cost controls and budgeting
Human Resource development
Our Asset Management Team concentrates on reviewing property operations and capital expenditures; identifying opportunities to increase profitability; ensuring competitiveness in procurement; ensuring the hotel operator is focused on the critical elements of success; monitoring changes in the competition and reacting accordingly; and analyzing results on behalf of ownership.
We will specifically provide the following:
Increasing sales and top line revenue focus
Maximize property returns through the pursuit of strategies for value creation.
Review and analyze monthly operator performance.
Participate in planning and monitoring of capital projects.
Administer owner relations and represent the company at board meetings.
Review and critique annual marketing plans and budgets.
Review asset positioning and make comparisons to market competitors.
Assemble and evaluate pertinent market and economic data.
Assist with legal issues and contract compliance.
Preparations of financial projections and valuations.
Prepare quarterly investment performance report.
Administer legal, tax and accounting formalities for each property.
A comprehensive asset audit will be conducted to formulate a targeted plan to uncover areas of opportunity. Understanding that each property is faced with its own market and property challenges, we will work together with the property management team in crafting a plan that is specific to the property, aligned with financial projections, and achieving our core objectives. This plan will be on detailed and presented to ownership for feedback and approval. Our initial property review will be broken into three areas:
Sales, Marketing and Revenue Management Review
Review current rate and revenue management strategies
Review Sales and Marketing Plan
Review Current Sales Deployment
Ensure Rate Parity protocols are in place
Determine current GDS rate and inventory strategies
Review current website and other on-line production
Review Sales team goals and individual production
Review current sales team incentive plan
Complete Access Accounting Internal Audit to identify controls in place
Detailed review of the historical operational P/L, General Ledger, A/P and A/R accounts
Review Inventory procedures
Analyze food and beverage sale abstracts
Analyze Liquor and Food Inventories
Review Adjustments & procedures for authorizing them
Analyze guest charging procedure to insure all revenue is being captured
Review all service Contracts
Review Vendor pricing
Evaluate current hotel management team
Review property customer service matrix scores
Review current property policies and procedures
Review current employee benefits, training procedures and turnover rate
Review departmental schedules
Review of operating hours in all outlets
For more information on our Hotel Management Services, please contact:
PropertyBIZMAG Vietnam Co., Ltd
21st Floor, Capital Tower, No 109 Tran Hung Dao street, Hoan Kiem District, Hanoi, Vietnam.
Tel: +84 888 518068
Hotline: +84 934 508 608
Email: email@example.com; firstname.lastname@example.org
Website: www.propertybizmag.com; www.hotelbizmag.com