With resurgence in the hotel business, although not in all markets, and some job movement it seems that 2011 will be stronger than 2010. The changes that we see are the RevPar equations and logical movement to make the property as profitable as possible. There are other components that are the other side of the equation that is equally important one is the Menu costing and Profit Ratio models. The key is to get the best pricing from your vendor or be under a contract. The other part is the Profit model for meetings and Catering events. A preliminary P&L will give you a clear indication on adjustments that need to be made. Labor is another key element that hotels scrutinize to make money. They combine jobs, or scale back staff there seems a fine line on service at all levels. With Budgets in mind there is a time to know when to cross the line and when to cross back. Marketing your property correctly to achieve the most revenue streams and social marketing will get you the most exposure.
We at Sutter & Pine Hospitality are ready to assist you in Development, Operations, and Training, Control systems, helping you make the right decisions for 2011.
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