Turnaround Strategy for Hotels
The Hotel Experts – Your Trusted Partner for Hotel Turnarounds and Managing Distressed Hotels
Is your hotel business underperforming and troubled? Do you need to groom your processes and financials to improve efficiency? Our specialists at The Hotel Experts can devise a definitive turnaround strategy for hotels that can deliver service excellence and noticeable financial results.
Why Do Hotels Need a Result-Oriented Turnaround Strategy?
Current performance trends and industry reports indicate that a large proportion of hotels are under-performing due to the lack of an effective marketing & sales strategy, poor management, inefficient structure, improper brand profiling and out-of-margin costs overheads.
Amidst cut-throat competition in the hospitality industry, hotels are constantly under pressure to provide high levels of service, maintain optimum occupancy rates and cost margins. It is at this stage that most hotels fail devastatingly.
On the verge of distress, only we understand how important it is for your hotel to turnaround and gain a strong foothold in the industry. The Hotel Experts has a proven track record in providing bespoke solutions and outstanding outcomes based on definitive business recovery and turnaround strategy for hotels. Over the years, we have successfully helped a large number of hoteliers to recover from the edge and gain complete control of their businesses.
How Can The Hotel Experts Help with Strategic Turnaround Management?
Let The Hotel Experts help you realize your brand’s potential, increase profitability, and maximize your strengths. Leveraging our hotel turnaround management DNA and a strategic approach, we focus on repositioning your business, mitigating losses and increasing your ROI amongst the competitive landscape. Our hotel turnaround specialists leverage the USP of your hotel to improve financial performance and operational efficiency at all levels.
Our dedicated turnaround strategy for hotels is based on a comprehensive SWOT analysis. This includes analyzing areas like:
- Profit-making and cost-reduction strategies
- Market competition and positioning
- Revenue-earning opportunities
- Strengths and weaknesses of operational management
- Financial controls, cash management and viability
- Technology used throughout the hotel
- CRM practices, guest feedback and reviews
- Distribution channels used to sell the hotel
- Sales & marketing strategies
- Human resource policies & procedures
- Structure planning and business recovery
- Financial turnaround
- Operational productivity improvement
- Revenue and yield management
- Devising an optimum marketing & sales strategy
- Change management
- Dynamic distribution
- Service redesign
- Product and profit improvement planning
- Service excellence
Turning around an underperforming hotel is challenging, but also entirely possible. Our team of turnaround specialists analyse the business from all perspectives during this transition phase and help take corrective measures if any shortfalls are discovered, thereby paving the way for a prosperous beginning.
Get in touch with us to find out more about our business recovery management and turnaround strategy for hotels.