On the recommendation of another satisfied client, Hospitality Advisory Partners approached Select Group InterContinental, the owner of the property, in October 2017 to carry out an Operational Business Review. They had already completed two mystery shop experiences on the property at this time. Although the client was considering two other established hotel asset management companies at that time, Hospitality Advisors were chosen to carry out the review, due to their outstanding presentation and knowledge as “hands-on” hoteliers, rather than traditional “behind the desk” asset managers.
Hospitality Advisory Partners developed and presented a variety of scenarios for the turn-around of the property and assisted with the Annual Budgeting Process for 2018. A further review of the implementation of changes will take place in the coming months.
Hospitality Advisory Partners successfully won the contract to carry out the Operational Business Review with less knowledge than the other two hotel asset management companies who presented.
Initial contact was made to Select Group in October 2017, the contract was signed in November and the Operational Business Review was completed by the end of December of the same year.
Identified issues relating to the rates and advertising of serviced apartments, losing revenue for the property.
Identified areas where the business required re-organisation and restructuring.
Developed and presented a plan to the owners to streamline and rationalise the business.
Met with operator management team to discuss new business plan to reach the new objectives.
Raised owners return on investment by 20%, previously considered unachievable.
Hospitality Advisory Partners assisted with the Annual Budgeting Process when Intercontinental presented their plans for 2018.
Due to their satisfaction at the completion of the Operational Business Review, Select Group have since recommended Hospitality Advisory Partners to new clients, citing their attention to detail and comprehensive understanding of hotel operations.