Hotel Management and Consulting Services | Hospitality Consultancy - Indonesia
LiveBean is a leading Hotel Management and Consulting Company with a footprint in Asia and Middle East offers hospitality consultancy services for hotel feasibility study and best hospitality management services to tourism industry for revenue generation.
Do you own a hotel business? Great! But, that’s not sufficient enough to top the race of hospitality and customer satisfaction. There are many nuances that go into boosting the smooth working of a hotel, which is responsible for its development. Sales and marketing is undoubtedly a crucial aspect of the hospitality business, but it is not all a hotel business needs. Ground-level work is always important for better maintenance of rooms, parking lots, and other common areas.
Why hospitality management audit?
Think your hotel is satisfying your guest just like you expected? What if it does not? Do you have any idea about how much your guests are satisfied with your hospitality? The fact is, you are often unaware of what your guests are experiencing in your hotel, and how good your services are from the guests’ point of view. Managing your hotel business with a good team is not enough to ensure that your hospitality is serving what you are expecting from it.
This is where hospitality consultants come into the picture, who facilitate their hotel audit procedure to make things clear for you. Read on to find out how these consultants help hotels with their management audit.
What hospitality consultants do?
The experienced professionals of a hotel consultancy have deep know-how of audit procedures for a hotel. They will sit with you and discuss your needs and the entire strategy so that you know what the professionals are going to do and what to expect.
For the auditing process, the consultants will hide their identity and will visit your hotel pretending to be a usual guest. This is to examine the entire environment of your hotel and to have a closer look at your hotel’s management, service, rooms, and other stuff. If the audit professionals find everything well, then it is fine. But, if they notice any issue that may affect the comfort of the guests, they will let you know. Also, they will help you plan a better strategy to solve the problem effectively.
Alongside, the work of hospitality management audit consultants also includes customer care assistance, front desk help, planning staff’s shift, and auditing financial transactions.
If you have decided to get enrolled with the services of a hospitality consultant for the audit process, then make sure you choose a trustworthy company. Experts of the industry can give you a clear insight of your hotel business and can help you make it better.
For an effective asset management, a hotel needs better collaboration rather than confrontation. In pretty much every hospitality business, there are always opportunities to accelerate the revenue performance and reduce the overall costs; and that too, without affecting the guest experience. The trick lies in the capability to encourage and support the management with effective hospitality management services and a few strategies that have been proven to bring the desired success. Let’s have a look at how to succeed in your hotel asset management.
Have a Bird’s Eye View
Every nuance involved in your hotel business is crucial, right from how you facilitate contract negotiations, evaluate expenses, form growth strategies, collaborate with the latest technology, apply the accounting practices, and much more. All of these should be taken very seriously when you are making any plan for your hotel.
Understand your market
Understand your assets and your market, and then analyze the demand generators. By knowing what hospitality trends are in demand, you will be able to create and implement that right plan to achieve your estimated goal. Market conditions in the hospitality industry keep changing very rapidly. So, you need to keep up on the latest trends.
Determine the Right and Responsible Person
It is always best to delegate your task to its expert. You can hire a hospitality consultant to take care of your complete asset management needs. These professionals have a proper idea of the industry and the hospitality business. Hence, they can use their expertise to facilitate your hotel’s revenue process smoothly and flawlessly.
Be Willing To Take Risks
As the saying remains, “more risks for more gain”. Relax, as there would be some trial and errors involved in your plan sometimes, but that does not mean you have to dwell on it. All you need to do is, evaluate the flaws and jump into something different. Do not be afraid of trying new strategies, as doing nothing for the sake of safety never works.
These were some of the ways through which, you can plan the growth of your hotel business successfully. What suggested is to approach a reliable company that has been offering hospitality management services for a quite long time in the market. Make sure that the one you are hiring has good experience in managing different types and sizes of hotel businesses so that it can help you with your precise needs.
When you are in hotel business, you know how critical compliance and profitability are. Hoteliers work hard to keep their guests satisfied, and work harder to boost their business growth. With all of this, what also essential is the peace of mind that comes with an expert consultation and strategic advice. To make the way towards success easier, hotel businesses are actively getting enrolled with hospitality advisory services.
There are so many reasons why these advisory services are recommended for an effective and smooth growth of a hotel business. Here are a few points that will let you know how beneficial the experts of a hotel advisory firm could be for your hospitality business.
Better growth strategy
Since hotel businesses require significant attention towards the guest service, it becomes a little tough for the business owners to put the same efforts towards strategy making. Here comes, the hospitality advisory services that let such businesses plan their growth strategy by addressing every important aspect.
Increase in productivity
The solutions and strategies that hospitality advisory firms offer are intended to increase the productivity of your business. They know how to make you stand out in the competition and help boost your brand image so that it can deliver high profit to your business.
Whether you are planning to launch a new product or service in the market or looking for a better brand image, hospitality management companies can be highly beneficial for you. Consultation from the professionals of the industry enables you to brand your new launch in a cost-effective way.
Decrease in the overall cost
Hospitality management services work towards reducing your overall cost of investment and increasing the returns. These services reduce the cost of production and help you attract more profit towards your business. When getting in touch with a hospitality advisory firm, you know your hotel strategies are going to be handled by the old-pros of the industry, and you can expect excellence in return.
When you delegate your hotel’s strategies development and management work to the experts, you actually pull out extra time to focus on improving your customer service. Better services to guests mean more revenue for your hotel.
All you need to do is find a reliable company that offers hospitality management services. You can easily find many reputed hospitality management firms online to partner with for improving your hotel’s overall performance.
Every year, hotel businesses have to plan something to build better and effective revenue management strategies. As one of them, you might also be putting your shoulder to the wheel, so that you attract more bookings, increase revenue, cut your cost, etc. But, not always do these strategies perform up to scratch.
Regardless of the fact that you offer great services and amenities, you may miss out on certain vitals that can cost you a lot. As a hotel business, you need to understand and acknowledge your needs, so that you be the first choice for your guests.
While you do that, we have listed below some of the important and must have strategies for hotel revenue management. Let’s have a look –
1. Segmentation and price optimization
Targeting every direction will not let you make the right strike for your business. With this we mean, you need to segment and pitch the right set of guests in order to formulate strategies accordingly. Also, identify the habits of your guests and their preferences in the hotel to create successful strategies.
2. Rate analysis of competitors
If you really want to enhance your brand over others, you need to keep up with the rates that your competitors are offering to the guests. Analyze competitors’ pricing strategies, and update yours accordingly.
3. Responsive website
People today love to browse via phone, and if your website is not responsive for these users, then you might lose many of your potential guests. A responsive website will let your guests do bookings with you in a convenient way.
4. Leverage SEO
Search engines can provide you with a lot of amazing growth opportunities. SEO practices can help improve the visibility of your brand on the search engines so that whenever your potential guests are looking for accommodation, they can find you easily.
5. Better online reputation for more loyal guests
Today’s world lives online, and if your brand does not have a good reputation over there, then you are lacking in the race. Work towards boosting the reputation of your hotel in the online world, so that you can gain more loyal customers as well as a large customer base.
If you want professional assistance in creating the most effective hotel revenue management strategies, then do not worry. Get in touch with a trusted company that provides quality hospitality management services and plan your way towards achieving your desired future goals.
Whether you are planning to start your new hotel business or looking for ways to expand your existing one, hospitality consulting services can benefit you to a great extent. Hotel advisory firms can offer you the best possible solutions that help in running a business smoothly and effectively. If you are still wondering how a hospitality consultant can help you with your business growth plans, then read on.
The first and foremost thing that makes such firms important to hire is the expertise and professionalism they are equipped with. With deep experience in the hotel business, such firms can assure about providing you with the best possible solutions and ways to win the customers and fulfill their needs in a way that pays back to you. Since the hospitality sector majorly depends on customer service, a hospitality consulting firm can be a great help in improving this part.
Strategies that work
As we discussed the expertise these firms carry, this makes them expert at creating better marketing strategies. These firms have been in the industry for a quite long time, and have seen many of the strategies hitting the ground running and many of them failing to give desired outcomes. This allows them to determine what works best for a specific market. And this way, you can leverage their experience in the industry for your business too.
Making expansion easier
At one point or another, a hospitality business almost always looks to expand its reach and growth. Such industries require a high capital for both starting-up or expansion, and investing your hard-earned money unfairly would not be a practical decision at all. Hospitality advisory services can make your business expansion process extremely hassle-free and easier. An advisory consultant can convey you the right way and the right market to invest your money in, and ways to attract more customers towards your business.
There are many people who might think that spending money on such firms can be an extra expense. Little that they know, the benefits that a hospitality business enjoys with advisory services can outweigh the money they spend for availing them. This ultimately makes these services affordable and pocket-friendly.
There are so many companies claiming to provide similar solutions and services. All you need to do is find a reliable company that offers top-notch and competitive hospitality consulting services. You can then further plan your hospitality business start-up or expansion successfully.
No matter what type of business you own, to make it successful, you require an effective marketing strategy. Because, in this highly competitive market, getting fit is not enough. You have to stand out!
Same goes with the hospitality industry too. It is needless to mention that the market is full of competitors, providing hospitality services. Hence, it becomes vital to build up your brand, attract new customers, and maintain loyalty. Hotels often approach a Hotel Revenue Management Consultant in order to facilitate the process of increasing awareness regarding their brand, promote interconnected campaigns, and boost revenue
A Deep Research – There are various reasons why a customer chooses a certain hotel over others, including location, perks, and facilities. Companies should make sure they offer what customers are looking for. The role of sales and marketing support is to carry out deep research and determine what factors induce customers to choose a hotel and then work towards making the hotel stand out among others.
Creating The Buzz- It is important to let customers know about your services and facilities in order for them to avail it and get excited about it. The marketing support team can help spread awareness about the services your hotel offers so that your offers can remain up-to-the-date, and more and more customers get induced by them.
Rewards And Promotions – Promotion is another smart strategy that a marketing and sales department uses to attract customers, especially when the business is running slower. Many hotels use promotions during certain times of the year. Offering incentives and other kinds of reward help attract customers to a great extent.
Customer Relation – Maintaining a good relationship with the customers is important for a high level of repeat business. Repeat customers are a stable revenue base, and this is why loyalty programmes are developed by the marketing team of the hospitality sector. Loyalty programs can be of different types, depending on your specific needs and expectations.
The benefits of sales and marketing support cannot be underestimated, and this is why hotels often get enrolled with the hospitality revenue management services. These services help these institutions with the ideas and strategies that can help hit their business big.
The great thing is that there are many companies working as a hospitality revenue management consultancy. You can take the help of the internet to explore the services of these companies. Most reputed hospitality consultancies operate online. You can browse their services and can get in touch with the one you think can be the best choice for you.
You ought to have the capacity to characterize your organization vision in 100 words. Build up this announcement and make it publically accessible to the two most important representatives and clients.
This announcement should answer the key inquiries that drive your business: A good hospitality business plan covers – Where is your organization headed? What do you need your organization to be? In the event that you don’t have a clue about the response to these inquiries off the highest point of your head, at that point you make them think to do! On the other hand that you have the appropriate responses in your mind, however not on paper—get down to writing.
In the event that you have them recorded, congratulations! You’ve finished the first and most basic advance in making a long haul in business success.
2. Characterize your own vision
While your own vision is similarly as vital to your organizations’, it should also be imparted to your group and clients.
Your own vision should join what you need your business to convey to your life—regardless of whether that is colossal development, early retirement, or basically more opportunity to go through with family and companions.
Adjusting your own vision to your organization vision is critical to accomplishing your own and organizational objectives. Similarly likewise with your organization vision, have your own vision recorded in a 100-word explanation.
3. Know your business
Lead a SWOT (Strength, weaknesses, opportunities , and threats) investigation. By knowing where your business is presently, you can make more educated guesses for how it can develop. Every top hotel business plan includes SWOT analysis.
Questions, for example, “For what reason is this business essential?” and “What does this business do best?” are an extraordinary place to begin. A SWOT investigation can likewise enable you to get ready for making enhancements.
Questions, for example, “What needs enhancement?” and “What more could the business do?” can help control your key arrangement in a way that shuts holes and opens down circumstances.
4. Build up here and now objectives
Here and now objectives ought to incorporate all that you (sensibly) need to accomplish throughout the following three years.
Objectives ought to be “S.M.A.R.T.” (Specific, Measurable, Actionable, Reasonable, and Timely).
A case of S.M.A.R.T. objectives incorporate “working out another item or administration inside the following year” or “expanding net benefit by 2 percent in ten months.” In the event that you’ve just led a SWOT examination, you ought to have a thought of what your business can sensibly accomplish over a predetermined time-frame.
5. Create illustrative strategies
Systems are the means you’ll take to meet your ever-changing objectives. This involves looking into the following points.
Looking into contender contributions
Connecting with sellers and providers
Defining an advancement plan
Sketching out an advertising and deals plan for the new advertising
6. Make an activity plan
An activity plan is a basic piece of the business arranging and methodology improvement process. The best investigation, top to bottom statistical surveying, and innovative strategizing are futile except if they prompt activity.
An activity plan should be a working record; it must be anything but difficult to change and refresh. In any case, should likewise be particular about what you’re doing, when you will do it, will’s identity responsible, what assets will be required, and how that activity will be estimated.
Running a hotel business takes grit and heart. It is taxing on the mind as there are millions of factors that can go wrong. However, these time-tested strategies might be helpful to turn the tides on your business instantly.
Install only the best-in-class property management system
If your PMS is obsolete, you’re taking big hits. Installing an automated cloud-based does not require a full-time IT expert, therefore it becomes easy to maintain or operate and most importantly, it saves you time. Live bean hospitality is an award-winning hospitality consultant who can hitch brands to best PMS suited for their business.
Tune your PMS to become more mobile-centric
By doing this, you will allow your staff to operate more efficiently. For instance, housekeeping can interact with the front desk system with a single finger tap on their mobile phone and get a report on which rooms needs servicing and the occupancy status on each one.
Grant flexible work hours to your hotel staff
Enunciating a rigid set hours for your staff may actually cause more harm than good. Due to rigid shift hours, you might experience the two great demons of productivity overstaffing, and understaffing. That’s why, incorporate a flexible shift-based approach that allows you more room to stretch and deploy staff when you most need them and for specific purposes.
Practice the idea of smart responsibility
This revolves around efficiency again. It means that clear instruction must be given to housekeeping team and what is expected of them. If a room has been barely used, it won’t require as much cleaning or preparation as a room that has been occupied for a full week.
Slash your marketing costs
Although not purely wise to do it however it is important to know that many paid promotion isn’t always guaranteed to bring downpour of results. Try assessing your approach to marketing and investing more energy into free channels and organic traffic. Create high quality content and raise social media followings without burning holes in your pocket. A lot of traction can be gained on Facebook, Instagram, and Google without spending money.
Revenue management is commonly associated with presenting the right room at the right cost to the right client at the right time. At the current state, hotel industry profit centers are extending to newer avenues such as conferences, restaurants and other recreational facilities such as Spas and golf courses. The common traits among each are that every one of these products is perishable. This means if a hotel room is not sold till end of day then it is an utter waste. It can’t be held saved for a later use. This simply means that the hotel manager must insure that the revenue managementachieved from each night booking is streamlined to average the non-sale nights. Failing to do so means that hotel loses out on revenue and witness declining profit margins.
It can lead to a 10% minimum price hike for each available room rate which causes a serious improvement in profitability. Naturally, the bigger sized rooms command more profits, but revenue management is vital to be incorporated to even the smallest operation.
To raise the revenue and to rake in big profits, it is essential to understand the significance of Revenue Management in Hotel Industry, so that you can accurately structure it to amass the desired results. Few of Revenue Management advantages are as follows:
It enables team’s synchronization among varied group or department within a hotel on the singular objective to increase profitability.
It boosts efficiency by pummeling down the costs.
It sparks creativity in both the conceptualization and creation of undiscovered products and services·
It aids in presuming and forecasting future demand.
It strikes equilibrium between general managers, revenue managers and hospitality managers.
It provides the every hotel staff with an idea of how to manage revenue flow.
It builds a brand’s competitive intelligence and market
It acts as a support pillar for any person to solemnly considers a situation and also provides the best solution possible to the hotel management system.
It slashes time and financial cost associated with traditional pricing tactics.
Revenue management is the core to the hotel business and should be trod with caution and due diligence. It is important for a hospitality professional to know about Revenue management’s role in the hotel industry in order to operate the business successfully.
Hospitality Management industry is volatile. Every day there are tons of changes. Many fail to adapt and perish. Few are dominating the game because they possess the right skills and knowledge. This blog will show you the major challenges faced by the hospitality management industry. A hospitality management consultant must look to effectively tackle the problems occurring in a hotel. Listed below are the problems that hotel operations management must concern themselves with:
1) High competition
The hotel industry is ever growing and forever expanding a business. Travel and tourism business perpetually rise. Travelers are always on a hunt for the perfect accommodation. Because of soaring demand for accommodation, the competition is stiffening by the day with no seeming limit. In every nook and corner, you can spot a hotel. High competition is one of the major challenges faced by the hospitality management industry. To yield higher profits, new or existing competitors will have to drastically slash rates or provide all the more conveniences, services or amenities, or significantly expand, improve or introduce new facilities in the markets.
2) Bad Customer Service
With the lack of quality food resources and trained staffs, most of the hotels offer low-quality foods to their guest. Once a brand gets tainted with the bad reputation in your area, it is next to impossible to restore the reputation. For a hotelier’s, customer satisfaction is all about providing the good quality foods, amenities, customer support, etc.
“Going Green” is a pressing concern for the rapidly growing tourism destinations around the world. It is impertinent that hotel managers try to reformulate the product/services doled out so that they are built from fewer environmental draining raw materials or nature-harming elements.
Hotels must adopt processes as recycling, installing low flush or air flush toilets or shower heads, shifting PVC key cards to options made from bioplastic, or go paper free.
4) Staffing Retention and Recruitment
Some of the services required in the hotel industry are highly personalized, so it is necessary to invest more time in customizing the service as per the guests and accordingly optimize operations. This will lead to a higher rate of staff retention because employees shall have more organized work schedule and streamlined opportunities.
Several solutions are available for hotels, which allow the utilization of a Preventive Maintenance module. In such module, a staff can easily create multiple work orders and sequential put them in order of priority. On the other hand, Corrective Maintenance module aids in faster reporting and better management of staff. Such measures and reduce employee attrition and save thousands of dollars of hotels from recruitment and staffing.
There are many other problems that plague this domain. In this piece, we have discussed the ones that critically stifle the growth and revenue earning potential of the business.