Hotel developers want revenue management know-how from the beginning

In 2011 I wrote an article about the seismic shift in hotel asset management – a change in focus from operations and cost control to a more strategic view, incorporating revenue management.

Going through LinkedIn reviewing some of the key players in the field of asset management in the hospitality industry I could not help but notice that the shift of focus continues.

Many hotel management and investment companies today have not only added analysts with prior revenue management experience  to their ranks but also include marketing and PR specialists.

Having done eight openings with Xotels over the past year, we have also seen that these areas of expertise are considered crucial for the success of a new hotel concept.

Just as with the big chains, the general manager is no longer the first to be recruited in the opening process of an independent hotel.

The role is changing from an executive position into more an operational level management position. The  GM skillset has clearly changed as more and more functions, such as housekeeping and food & beverage, are outsourced.

During the development stage, more emphasis is now put on the strategic elements of the concept. There is a big change in philosophy and entrepreneurial vision happening in the industry.

No longer do companies depend on the all-encompassing knowledge of the general manager. Rather they are recruiting experts in each field, based on when this is required in the pre-opening timeline.

The industry now has a much more pragmatic approach to hotel management strategies.

Revenue management consulting and outsourcing services are now needed at the start of new hotel projects, whether the hotel is being developed by an individual investors, an institutional real estate developer or an established hotel operator.

No longer are companies only looking to hire people, but rather are looking for the best in their field, internal or external.

NB: Image by R_Tavani/BigStock

See also:
The complete guide to online marketing and strategy for independent hotels (part one)(Nov16)
The complete guide to online marketing and strategy for independent hotels (part two) (Nov16)

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Patrick Landman

About the Writer :: Patrick Landman

Patrick Landman is a contributor to tnooz and founder and CEO of Xotels. This hotel management group assists independent hotels with revenue management, online marketing and internet distribution strategies.

They offer outsourcing services, coaching, consulting and training. In his blog, Patrick challenges hoteliers to think out of the box and not to accept the established order.

Through a passionate drive for growth and improvement he brings creative tips, ideas and best practices to the table that can help hotels drive up their bottom line.

In previous roles he has helped to develop businesses like RateTiger and Hotels.com into industry leaders. 

 

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