Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Cost per occupied room spreadsheet

04/12/2021 Client: muhammad11 Deadline: 2 Day

LodgingMetrics.com Page 1

Top 5 Challenges Hoteliers Face Today

Where does it hurt? I spent the first quarter of 2014 doing extensive research on the challenges and frustrations that hotel owners face on a daily basis. The goal was to dig deep, and if I found an area that is “painful” enough, develop a technology solution around it that would make life as a hotelier more enjoyable, productive and profitable. After speaking at length with more than 100 hoteliers and industry experts, I gathered invaluable feedback … and the results may surprise you. Since my questions were intentionally open-ended, the responses ranged from very general to very specific. I kept probing to ensure I was uncovering the deepest challenges, and I recorded each conversation so I could be fully present during each discussion. I then carefully transcribed each conversation and methodically transferred their responses into a detailed spreadsheet, grouping each of the pain areas identified into 15 categories with a rating of 1, 2 or 3 for each pain (1=low, 2=medium, 3=high). Here is an overview of my analysis.

Rank Pain Area % with

this pain (1-3)

Pain Level 1 Metrics/Statistics 66.67% 1.95 2 HR Staffing 21.21% 2.29 3 Franchisors 21.21% 2.14 4 Guest Reviews 21.21% 2.00 5 Labor Costs 18.18% 2.00 6 Lower Sales/Profits 15.15% 2.20 7 Guest Issues Tracking 12.12% 2.75 8 Legal 12.12% 2.00 9 HR Documentation 12.12% 1.50

10 Financing 9.09% 2.00 11 HR Training 9.09% 1.33 12 HR Law 6.06% 2.00 13 OTAs 3.03% 3.00 14 Budgets 3.03% 2.00 15 Marketing 3.03% 2.00

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

-20% 0% 20% 40% 60% 80% 100%

Metrics

LodgingMetrics.com Page 2

Of the pain points brought to light, here are the top 5: 1. Metrics - Over 66% of the hotel owners I spoke with (2 out of 3) shared that their single largest challenge is keeping up with their business statistics. The most successful hoteliers are not only concerned with their revenues, Occupancy, ADR and RevPAR, but they also calculate key metrics like GOPPAR (Gross Operating Profit Per Available Room), NREVPAR (Net Revenue Per Available Room), cost per occupied room, break- even point, and compare the performance of all properties in their portfolio. To do this, you need to gather and analyze data from each of your Property Management Systems and expenses from your accounting system. Most hoteliers find the cost of installation and monthly service fees for this type of enterprise solution prohibitive. I was shocked to learn that many resort to using complex spreadsheets, manual reports, and spend countless hours pulling all of this together. 2. Human Resources (combined) - The second largest area of challenge is around HR staffing, training and laws, with a combined total of more than 48% of the participants bringing this up. This includes finding, hiring, training and retaining good staff, as well as dealing with HR laws and guidelines for documenting incidents. I'm told that many franchisors do provide good training materials for some positions, but finding them in the sea of resources they provide can be overwhelming. One Independent hotel owner suggested using free videos from industry vendors to help with training. For example, Ecolab provides numerous training videos online for front and back of house, housekeeping, laundry, restrooms, and more. Because of the complexities of HR law, many are forced to pay high consulting fees, or worse, they do without and hope for the best. One alternative that some companies have chosen is leasing their employees. Employee leasing can help relieve some of the hassles and headaches of employee-related paperwork and compliances, payroll processing, and managing benefits. 3. Franchisors - I'm sure you're not surprised that Franchisors made the list with over 21% citing various challenges. The complaints ranged from increased fees, seemingly never ending lists of requirements and expectations, and of course, imbalanced agreements. People have written entire books on franchising, e.g. “Franchising: Is It Fair? How to Negotiate an Equitable Franchise Agreement,” but two key takeaways worth mentioning are:

1) The time to read, understand and negotiate a franchise agreement is BEFORE you sign anything, and 2) There is immense value in building and maintaining good relationships with your Franchisors.

Abiding by all of the set guidelines and staying in contact with the corporate offices will help you maintain a strong and successful relationship. 4. Guest Reviews - Over 21% mentioned online reputation - specifically guest reviews on TripAdvisor, as being a major pain. I ranked it #4 since the pain index was slightly lower than Franchisors. After doing some digging, I found a product called WaveReview that seems to be making some headway in this area. The founder, Geordie Wardman, wrote a great article on How To Manage Your Online Reputation which was published in the April 2014 edition of AAHOA Lodging Business magazine. The WaveReview approach is to help you proactively send a two-question survey to your guests, and if it's positive, the services makes is really easy for the guest to post a (positive) review on TripAdvisor. The more favorable

http://www.ecolab.com/solutions/front-and-back-of-house/cleaning-caddy/training-videos
http://www.amazon.com/gp/product/1576350541/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1576350541&linkCode=as2&tag=lodging0e-20
http://aahoalodging.biz/trends-n-issues/How+to+Manage+Your+Online+Reputation/363
LodgingMetrics.com Page 3

reviews, the higher your rating – and studies have shown that directly results in higher profits. If the guest had a bad experience, the WaveReview’s survey logic will direct the guest's response to a key person you appoint to remedy the situation. This proactive approach is proven to help hoteliers boost favorable reviews and reduce negative ones. Visit them online at www.wavereview.com, and check out their blog, too. Good stuff. 5. Labor Costs - Last, but certainly not least, is controlling labor costs. Over 18% said that analyzing payroll is a regular business practice for them. According to a 2012 PKF Consulting Benchmarking Report, labor costs are the single largest variable expense for hotels and typically range from 30-35% when measured as a percent of total revenue over time. While tedious, comparing each housekeeper’s hours worked to the number of rooms they cleaned is a great way to identify your star employees, and those that need additional supervision. Some owners even calculate the average time spent cleaning stayover vs checkout rooms, and they know, for example, that the average is 18-22 minutes for stayovers and 22-26 for checkouts. If a housekeeper is spending too much time per room, they may be milking the clock; spending too little time, and they may be cutting corners that could lead to a negative guest experience. However, longer per-room cleaning times may also be an indicator that you don’t have sufficient linen supplies. Pars vary by item, but accepted guidelines call for a par of three – one in use, one in the laundry, and one on the shelf. A par of three also allows linen to rest and extend its life. Another way to control labor costs is to develop standard operating staffing guidelines based on needs. Calculate and schedule the support needed based on anticipated arrivals, stayovers, departures, etc., then compare to your payroll to ensure staff hours are being allocated effectively. Tweak, measure, repeat.

Do any of these pains hit home with you? After digesting the various pains so many of you face daily, the answer became obvious ... a cloud-based dashboard can help you manage 3 of the top 5 pains and make life as a hotelier more enjoyable, productive and profitable. In response, I developed a game-changing, cost-effective solution that does all of this and more - LodgingMetrics. Based on feedback from hoteliers like you, LodgingMetrics can save you more than $3,200 per property every month. Stop struggling to keep track of your business the HARD way ... know the health of your portfolio in only minutes per day. You're already tracking all of your statistics - why not plug them into a centralized system with powerful dashboards and reports designed to help you identify and solve problems, make informed decisions, drive profit, and align your company? Would you like to add $38,000 to the bottom line of each of your properties this year? If you're interested in seeing what LodgingMetrics can do for you, schedule a demo at www.LodgingMetrics.com/demo.

http://www.wavereview.com/
http://www.pkfc.com/en/pkfhome/FreeStuff/IndustryReports/January-2012-Hotel-Managers-Control-Labor.aspx
http://www.lodgingmetrics.com/demo
LodgingMetrics.com Page 4

As I dig more and more into these problems, I'll continue to share what other hoteliers are doing to overcome these pain points. If you have any input, experience or suggestions that others could benefit from, send me an email. I am also seeking input from Industry experts, researching trade publications, forums, LinkedIn groups, etc., and I'll be sure to share my findings with you in my next report.

Jonathan Albano, CHO jonathan@lodgingmetrics.com

linkedin.com/in/jonathanalbano

Jonathan Albano is Founder and CEO of the LodgingMetrics dashboard for hotels and host of the Lodging Leaders Podcast.

For more than 13 years, Jonathan defined Membership Services for AAHOA, one of the fastest-growing organizations in the hospitality industry, with more than 12,500 members owning more than 20,000 hotels that total $128 billion in property value.

After effectively executing 13 national conventions, hundreds of regional trade shows, and attending numerous industry events, Jonathan is recognized by many as a leading hospitality needs expert in bringing owners and vendors together for mutual gain. As Vice President of Membership, he led the Membership, Education & Professional Development, Public Relations & Communications, and Information Technology departments. Jonathan used his engineering background and passion for efficiencies to improve staff productivity and enhanced members' experience by implementing countless technology solutions, designing custom software, and overseeing the development of multiple websites and mobile applications.

mailto:jonathan@lodgingmetrics.com

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Top Grade Essay
Math Guru
Professional Accountant
Solutions Store
Finance Professor
Homework Guru
Writer Writer Name Offer Chat
Top Grade Essay

ONLINE

Top Grade Essay

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$21 Chat With Writer
Math Guru

ONLINE

Math Guru

I will be delighted to work on your project. As an experienced writer, I can provide you top quality, well researched, concise and error-free work within your provided deadline at very reasonable prices.

$33 Chat With Writer
Professional Accountant

ONLINE

Professional Accountant

Being a Ph.D. in the Business field, I have been doing academic writing for the past 7 years and have a good command over writing research papers, essay, dissertations and all kinds of academic writing and proofreading.

$41 Chat With Writer
Solutions Store

ONLINE

Solutions Store

I am a PhD writer with 10 years of experience. I will be delivering high-quality, plagiarism-free work to you in the minimum amount of time. Waiting for your message.

$24 Chat With Writer
Finance Professor

ONLINE

Finance Professor

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$18 Chat With Writer
Homework Guru

ONLINE

Homework Guru

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$49 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Add column sparklines to cells f2 - ECON 3100-090 Fall 2020 - Which direction am i facing - Leadership style interview for a company's newsletter course hero - How to memorise polyatomic ions - Hedge maple scientific name - How to make a cross section in google earth - 3 5 kg to pounds - Independent variable in zimbardo's experiment - Analysis on the Threats Defense Argument - Basic principles of ultrasound - Coral bay hospital case study - The most popular pizza at pavone's pizza - Redarc brake controller manual - History of biomedical engineering - Following directions drawing activity - Network design proposal for hotel - E121 Week 5 - Final Paper - Blackpool council green bin - Theory, Research, and Practice - Cost of capital case study - A series rlc circuit consists of a 50 ohm resistor - Mystic monk coffee case study solution pdf - What harvests energy from sunlight to rearrange molecules into sugar - Woolworths credit card offer - La trobe summer exam timetable - Spring mass damper system matlab - Borders bookstore case study - Sarvodaya batticaloa contact number - Budgeting; Austin, Texas Police Budget Cuts and the Impact on Public Safety - Litterature - The aspect that differentiates social responsibility - Political frame bolman and deal - The accounting software installation project case study solution - Principles of management and organisational behaviour book pdf - Total net operating working capital - College level book review template - Chapter 3 lord of the flies summary - 12mm bolt torque setting - Fire lieutenant interview questions and answers - Nike supply and demand analysis - Merlin gerin multi 9 - Greenhouse effect ib biology - Gestalt and person centered therapy debate - Anthropology midterm exam - In mrs tilscher's class analysis - Cambridge igcse biology coursebook third edition answers pdf - Philips dynalite touch screen - Toc and toc matlab - Argumentative essay fill in the blank - Comic book articles - Every year the earth travels about 109km as it orbits the sun. - Oneac sinergy ii manual - How do i cite ana code of ethics in apa - Differentiate between oxidizing agent and reducing agent - Jedi hungry jacks login - Discussion 3 - Applying all the code on your selected dataset, complete all codes from Chapter Bivariate Graphs. - What rule does ralph set for the tribe - My Roses - Extension siop lesson plan - Discussion - Frankenstein story online quiz - Cic case study stage 3 - New heritage doll case solution - Are t bill rates annualized - Week 4 discussion - Exercise 5 9 part level submission - The owl by robert penn warren analysis - In the accompanying figure the split double arrow mouse pointer - .I need 300 words on "The Effective Use of the Audit Risk Model at the Account Level - Respond to 2 colleagues 1 paragraph each Colleague Wk5D1 - Who has seen the wind poem lesson plan - Kevin in tomorrow when the war began - Module 2 Discussion BHS380 - 10- to 15-slide presentation on Digital marketing with detailed speaker’s notes and visuals elements - Neurology royal victoria hospital - Delivery challan and invoice - Personal Philosophy of Nursing - Ordinary household bleach is an aqueous solution - Eco table - Computer science - What is the approximate speed of sound in air - First time in forever lyrics - How many pages is 1200 words - Manor house lane surgery - Ap biology multiple choice questions and answers 2015 - Kiwisaver hardship application form - Box and whisker plot minitab - Provide leadership across the organisation - Stages of horse labor - Nursing Research Methods - Galvanic cell lab report discussion - Gillette fusion proglide battery change - Mixed methods research a research paradigm whose time has come - Grandmaster flash white lines youtube - Ancient roman technology and engineering - Ps music balance sheet - Shadow health chest pain answers - Norton studyspace give me liberty 4th edition