Good Hotel Management is not achieved overnight, let alone by improvising and without following any kind of strategy. Success requires order and following steps, so if you want your hotel to grow, you need to know, master and apply different stages of Hotel Management.
If you are reading this post it’s because you know the importance of good management for your hotel, but you don’t know which are the stages of Hotel Management that you can’t overlook. Don’t worry, in this article we explain in detail how to do Hotel Management following the most important steps.
First stage: Pre-investment analysis (feasibility study) and hotel opening
Although all stages of Hotel Management are equally important, if we were to assign an order of priority, this stage would probably top the list. Because it’s not enough to just say “I will invest in the hotel industry”, you need to make a previous analysis that allows you to identify your target market, the resources you need to start and offer the best services, determine the current demands…
In general terms, this previous analysis of the investment and opening of the hotel basically consists of a feasibility study. In this study, the purpose is to project not only what would be the hotel’s potential earnings over the next few years, but also what marketing measures would be used, the types of services that will be offered, relevant aspects to create a solid brand, starting point for the architect…
Second stage: Preparing for hotel opening
The next key Hotel Management step is the preparation prior to the hotel’s grand opening. Of course, you can’t prepare for the grand opening day if you haven’t first planned everything related to your hotel, its theme, the target audience, etc. That’s why you can only move into this stage once you’ve done the first step of pre-analysis.
At this point, the hotel management is focused on analyzing that everything is in order, that you have the right personnel to perform the different functions, that the hotel has all the necessary supplies to provide the services, etc. In addition, you must also do an exhaustive marketing work, to announce to your potential clients the opening of a hotel destined to supply their needs.
Lastly, it’s important to emphasize that during this second stage your expectations and of those who will be working with you must be clear. And for that to happen you must remember the results obtained in the previous analysis carried out earlier.
Third stage: Open hotel and marketing, sales and revenue management
Marketing, sales, and revenue management are present at all stages. During the analysis, we see it as a future aspect, and in the second stage as an important factor in making a good first impression and attracting viewers. However, during this third stage, marketing plays a very central role, to the point where investments in this field are even more aggressive.
There are many aspects to consider for marketing, sales and revenue management as well as for the other stages of hotel management. It’s important to highlight that a strong know-how, a good implementation and follow-up is vital in order to achieve the established objectives in the economic projection or P&L Forecast.
Fourth stage: Ongoing analysis
Finally, another fundamental step in hotel management is the constant analysis of staff performance, marketing campaigns, sales and revenue management, income received, expenses incurred, customer satisfaction, online reputation, etc. All of this is done in order to know what is working, what should be discarded and how it can be improved.
By keeping all of this in mind, the growth of your hotel is more than guaranteed. And with this last stage, it becomes clear that hotel management never ends, which means it’s something you can’t do alone. Especially at a time like this one, full of uncertainties.
Although you can read articles on the subject, you need professional help to successfully carry out each of these stages, and at International Hotel Consulting Services we can offer it. Please feel free to contact us www.ihcshotelconsulting.com