Are you aware of the benefits of using a Hotel Asset Management Company?13th August 2018
The expertise and tools provided by the right hospitality asset management company can be invaluable to hotels and the running of their business.
Picking the right hotel asset management company can be a daunting task as there are several factors to take into consideration. Our team at Michels & Taylor explores the two main points you need to consider when selecting a company. Read on to learn how Michels & Taylor can help you generate durable results for your hotel.
Deal with a team of market experts
A hotel asset management company typically deals with a wide range of hotels whether independent or branded, in diverse locations and within various markets. By having a deep knowledge and understanding of such brands and markets a worthwhile hotel asset management company will be able to devise a strategy that will deliver for your hotel. An exceptional hotel asset management company will strive to make this strategy flexible, so they will generate the best results for you.
You want to deal with experts in the industry; choose a company that will take the time to understand the ins and outs of your hotel. In doing so, they will be familiar with your brand and can run checks like a Commercial Health Check to understand how internal operations are running. This way, they can identify sources of revenue and how to diversify them – it’s important to know how you compare to competition and it’s vital that you get a clear picture of how to improve through performance and strategy.
Get access to in-depth data thanks to cutting-edge tools
Hospitality management companies can use tools to provide your hotel with significant data that can work towards establishing the best strategy for your business. Developing cutting-edge tools enables the hotel asset management company to create in-depth and precise analysis and reporting for all aspects of your hotel – be it driving revenue, cost control, budgeting, forecasting or analysing the competition. It is very important to get a clear picture of your hotel’s situation and to understand the goals that need to be reached before making strategy decisions – after all they will impact the future of the hotel.
Why choose Michels & Taylor?
As one of the most successful hospitality asset management companies in the UK, Michels & Taylor stands out thanks to its team of industry experts. We deal with all brands whether national or international as well as independent hotels across the world – our considerable knowledge and strong skills help our hotels perform well. We have an extensive list of tools that will ensure you have all the data required to be making the best decisions possible. We also provide excellent bespoke training to guarantee that your teams on site will have the necessary knowledge to run daily operations in a way that will benefit you most. Michels & Taylor has been recognised in the UK as the winner of Best Hotel Consultancy 2016 by Corporate Vision Magazine.
“By utilising a hotel management company to help plan and strategize, you will be able to take advantage of invaluable benefits and ensure great results for your hotel. Selecting a company with extensive expertise that uses powerful tools and techniques is key and here at Michels & Taylor, we are dedicated to generating great results for your hotel.”
Kym Kapadia, Vice President, Commercial