What is Hotel Management?
Xotels Blog
by
3M ago
What is hotel management, you might ask? And that’s a really good question. The hotel industry is broad and complex, with many stakeholders involved. Did you, for example, know hotels are not just managed by one party but typically have many different players involved in operating the hotel? This is just one of the many important things discussed in this article. As a hotel management company, we hope this article will help you with the basic concept of hotel management to explore different hotel positions and everything in between. We want to make sure you get the complete picture of what ..read more
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What Does a Hotel Management Company Do?
Xotels Blog
by
3M ago
Whether you’re a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in today’s competitive hospitality landscape. Running a successful hotel demands not only a passion for exceptional guest experiences but also a deep understanding of numerous intricacies to ensure revenue management, finance, marketing, and operations all keep running perfectly. Let’s uncover the invaluable support that is offered and explore why this collaboration has emerged as a strategic necessity. Article Summary:  What Do Hot ..read more
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What Does a Hotel Management Company Do?
Xotels Blog
by
6M ago
Whether you’re a senior hotelier or an entrepreneur in the hospitality sector, understanding what a hotel management company does is essential to thriving in today’s competitive hospitality landscape. Running a successful hotel demands not only a passion for exceptional guest experiences but also a deep understanding of numerous intricacies to ensure revenue management, finance, marketing, and operations all keep running perfectly. Let’s uncover the invaluable support that is offered and explore why this collaboration has emerged as a strategic necessity. Article Summary:  What Do Hot ..read more
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10 Smart Hotel Cost Control Ideas to Save Money
Xotels Blog
by Patrick Landman
10M ago
Inflation, labour issues, and rising cost to meet the needs of an increasingly tech-savvy and sophisticated guest journey. Is there anything more pressing on the minds of hoteliers, preventing them from having sleepless nights thinking about how to bring down their hotel`s cost and keep their business afloat? With an ever-increasing amount of cost-associated challenges in our industry, this topic couldn’t have been addressed at a better time. From our perspective as a hotel management company, we see both challenges as well as opportunities for hoteliers. The key is taking action in an adeq ..read more
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Hotel Budget Plan: Are you Ready for 2023?
Xotels Blog
by Patrick Landman
1y ago
No time to lose, next year is almost here. And a good plan isn’t made overnight. How far are you with your targets, budget, and plan of attack for next year? What REVPAR and GOPPAR do you need to achieve? Is your plan for next year complete, and does it describe all actions in detail? Does everyone on the team know what the objectives are and which steps to take to get there? Did you make your new hotel budget already or are you right in the middle? What methodology are you using? Are you simply adding a 3% to 5% each month based on last year’s performance? Or are you really putting your teet ..read more
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Hotel Marketing Plan & Strategies for 2022 & 2023
Xotels Blog
by Patrick Landman
1y ago
Today’s traveler’s journey is more fragmented than ever. With the recent proliferation of new travel super apps, distribution Goliaths such as Google and Expedia updating their ranking algorithms at a frantic pace, and the seemingly unstoppable growth of metasearch engine traffic, building and executing an effective hotel marketing strategy can seem intimidating. Maintaining a holistic, cross-channel approach is essential and always is highly-recommended by our hotel management company. The primary goal of a robust hotel marketing plan, in fact, is to increase your brand visibility (and t ..read more
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10 Solutions to Challenges the Hotel Industry faces in 2022
Xotels Blog
by Patrick Landman
1y ago
In 2022, there are many challenges faced by the hotel industry, which may quickly feel overwhelming to address. However, as a hotel management company, we have seen that with the right approach, tech stack, and process streamlining, hotels can drive their success in 2022 and beyond. Article summary: Experience & Personalization Hiring the Right Employees Continuously Changing Consumer Demands and Markets Missing the Marketing Boat Tech stack Marketing Funnel Market Research Rising operational costs Protecting Direct Business Website investment Advertising Measure & track perf ..read more
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Why Invest in Hotels or Resorts?
Xotels Blog
by Patrick Landman
2y ago
The concept of the hotel has existed for hundreds of years. Since the days of stagecoaches, overland exploration and urban growth, entrepreneurs around the world have dived into hotel ownership. They sensed the potential, economic opportunity, purpose, growing markets and prestige. In the modern hospitality industry, not too much has changed. So what are the reasons for hotel investment?Let´s take a look from our perspective as a hotel management company. In this article: Financial Reasons Economic Gain Risk vs High Returns Tax Efficiency Leveraging Cost Control Value-add Possibilitie ..read more
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Popular Hotel Valuation Models & Appraisals for Owners
Xotels Blog
by Patrick Landman
2y ago
Do you like making decisions with sound info? Of course! So do hotel buyers, lenders, owners and sellers. Making informed decisions about potential or operational hotel investments means using accurate hotel valuation methods. Numerous methods exist, each with good and bad points. It’s the classic hotel real estate issue… how do you determine a hotel’s value without selling it? Here’s the guide to hotel valuation methods we put together from our point of view as a hotel management company. 1. Why are Hotel Valuation Methods needed? There are many stakeholders and scenarios that require a ..read more
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Top 10 Hotel Investment Tips
Xotels Blog
by Patrick Landman
2y ago
If you would like to invest in a hotel and are doing your research, at XOTELS, a company specialised in Hotel Asset Management, we would like to share some giveaways and a list of Top 10 tips to make wise decisions when investing in a hotel. 1. Research the company Before making any financial decisions, we advise you to do thorough research. It is essential to be up-to-date about the hotel you are considering as an investment. Some businesses are not as productive and profitable as they seem at first. They might lack popularity due to incorrect marketing or positioning. To assure a good ..read more
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