Running a hotel is hard work. In fact, there are a large majority of hotel owners who never imagined it would be half the work that it actually is. So what is the secret to running a successful hotel? The five C’s:
- Cost Effective
- Customer Service
This is the role you take on as a business owner, you need to ensure that you manage your employees, order and rotate stock, take care of the financial management as well as promoting and advertising your hotel. You are in the driver’s seat and you have to keep in mind that no one is going to offer the amount of dedication to your hotel as you. When you are in control of all aspects, your hotel will run smoothly and become profitable.
If you run a business, you have to be willing to keep track of the money that is coming in as well as the money that is going out. Also, you need to ensure that you are not investing in cheap furniture and other items, due to the fact that this will likely back fire on you in the future. Being cost effective also does not suggest that you are increasing your prices just to make more, it doesn’t work and your customers will likely go elsewhere.
The real meaning of being cost effective is to control and prioritize your spending so that you can ultimately increase the profit margins. There some things that you should consider when you are trying to run a hotel that is cost effective, which include:
- Do you have more employees than you need?
- Are you paying more for services and products than you should?
- Is there a lot of wastage?
- Are you purchasing items that could be made from scratch?
This should be at the top of your priority list! You have to have a clean, nice smelling and looking facility to attract and retain customers. It is a law for you to have these features and in order to be successful, it is a must.
This is one of the most crucial aspects of the hospitality industry, due to the fact that your customers mean the continuation of your business. If your customers are happy, you will make profits. Customer care includes providing superior customer services to every customer that comes to your hotel.
You need to stand out from the other hotels. In order to do this you need to ensure that your customers have a better time and experience with your site than anyplace else they go. Try new things, such as new drinks, dishes, activities and anything else that can help you stand out.
If you want to know how well your efforts are doing, and the amount of success you are having with your efforts use a Hospitality Industry Database. This will give you a real idea of how effective your efforts are.