Wednesday, July 22, 2015

Maximizing Hotel Profits While Renovating

The cost of renovating a hotel can be very expensive, even if you choose the most cost efficient options available to you, so there’s no room for a hotel to lose even more money.  That’s why it’s important for any hotel deciding to undergo a renovation, to ensure that their current guests are happy and comfortable and that any new guests and/or their current operations won’t be disrupted.  Jaguar Hospitality, a Hospitality Renovations and project management company that specializes in maximizing their clients return on their capital investments, would like to present some tips and ideas that will help any hotel and/or hospitality company maximize their profits during a planned or unplanned renovation project.
Tip #1: Keeping your guests happy is key.  A big oversight a lot of hotel owners make during a planned renovation is forgetting about their current guests and any new guests that may take up residence at their hotel.  Obviously hoteliers know that there will be guests during their renovation, but a few of them may forget to take a look at what their guests will be experiencing during the renovation.  So it’s a good idea to ensure that when planning a renovation, you think about ways to ensure that your guests will be comfortable and happy during their stay with your property.  A good way of doing that is ensuring there is no disruption to the HVAC system, and to have a plan in place in case the system does happen to experience a disruption.  A working HVAC system, or rather lack thereof, can be the difference between your guests deciding to come back and refer their friends and family or them putting you on their DO NOT STAY list.  Another good way of making your guests feel at home is to interact with them personally.  Something as simple as making sure that your front desk associates address all of your checked in guests by their name or that every employee they interact with can at least offer advice regarding any entertaining attractions in the area.  Finally, focusing on customer satisfaction is always an important aspect in maximizing your profits.  As long as your guests are satisfied you will always see positive results, however, on the other hand if your guests are unhappy, you can be assured that the negative feedback will be something that can translate into a loss in profits, sometimes quite significantly. 
Tip #2: Differentiate your hotel from your competitors by being creative, proactive and productive.  With the many different hotels around, it’s important to make sure your property gives something to your guests that no one else can do.  In 2015, good, original ideas can be hard to come by, so sometimes it’s good to just tweak things a little bit.  For instance, maybe having an earlier check in time then your competitors and/or a later check out time, can be just the boost your hotel needs to put you in the lead.  Furthermore, a renovation project is a great time to get creative with the design of the guest rooms, or even with just the more elite suites (which is a great cost effective solution to jazzing up your hotel without spending a great deal of money).
Tip #3: Happy employees will almost always translate into good profits.  Think about it, your guests interact with just about all of your employees on a daily basis, from the always seen Front Desk Associates, to the rarely seen janitors, every person that works in your hotel will make some form of impact on your guests at one time or another, so it’s best to make sure your employees are on their best behavior at all times, and some of the best ways of doing that is to pay your employees a fair, competitive wage, recognize them for their achievements, and offer them annual enticing incentives that will make them not only want to come to work every day, but will also make them want to put their best foot forwards at all times.
Jaguar Hospitality is ready to offer the best Hospitality Project Management Solutions like Capital Management, FF&E and OS&E Procurement, and 24/7 Reporting, in order to help the hotel maintain the profits and the guests happy. To learn more about the Hospitality Renovations contact us at (214) 295-3570 or click here to email us.

No comments:

Post a Comment