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Hotel

Management

Services we provide

A. Virtual Event Planning

The process of organizing and executing online events, like webinars, virtual conferences, or online tours, using a hotel's facilities and technology to reach a wider audience remotely, often utilizing platforms like live streaming and interactive features to engage attendees, even when they are not physically present at the hotel venue; this can include managing logistics, marketing, and technical aspects of the virtual event to maximize reach and client satisfaction.

At Our Thoughts LSKJ we follow these aspects

  • Platform selection:

    Choosing the appropriate virtual event platform based on the event size, features required (live streaming, breakout rooms, Q&A), and budget. 

  • Content creation:

    Collaborating with speakers, presenters, and internal teams to develop engaging virtual content, including presentations, panels, and interactive elements. 

  • Registration and marketing:

    Managing online registration processes, promoting the event through digital channels like email marketing and social media.

  • Technical setup:
Ensuring smooth technical execution by coordinating with IT teams to set up virtual event platform, manage audio/visual aspects, and conduct tech rehearsals.
 
  • Attendee engagement:
Designing interactive features like polls, chat rooms, networking sessions to keep participants actively involved during the virtual event. Post-event analysis: Tracking event metrics like attendance, engagement levels, and feedback to measure success and identify areas for improvement. 

B. Hotel Sales and Marketing

 A range of strategies and activities aimed at attracting guests to the hotel by promoting its rooms, facilities, and services through various channels, ultimately maximizing revenue by increasing occupancy rates and boosting revenue per available room (RevPAR) through effective marketing campaigns and direct sales efforts; including building brand awareness, managing online presence, engaging with potential clients, and closing deals to secure bookings.
We help the Hotels with below activities

  a.  Boost hotel strategy using Influencer Marketing.
  b.  Rewards guests using Loyalty programs.
  c.  Creating content using Content Marketing
  d.  Reaching potential guest using Digital Marketing
  e.  Building positive relationship using Public Relations(PR)
  f.   Building the hotel website.
Luxury Hotel

C. Hotel Audit and Accounting

A hospitality Audit, which is a systematic and objective evaluation of your operations, services, and standards.
Accounting in the hospitality industry involves tracking income and expenses, managing cash flow, preparing financial statements, and other financial record-keeping activities
We undertake these aspects
Audits 
  • Compliance: Audits ensure that hospitality businesses follow regulations and industry standards.
  • Risk management: Audits help identify operational and safety risks so that preventive measures can be implemented.
  • Quality assurance: Audits ensure that hospitality services and facilities meet established standards.​
  • Financial performance: Audits assess the financial performance of the business.
  • Guest experience: Audits help identify areas for improvement in the guest experience.
Accounting
  • Financial stability: Accounting helps ensure financial stability and long-term success. 
  • Cash flow: Accounting helps manage cash flow and track expenses. 
  • Profitability: Accounting helps optimize profitability and identify cost-saving opportunities. 
  • Regulatory compliance: Accounting helps ensure compliance with regulations and tax requirements. 
  • Inventory management: Accounting helps manage inventory, prevent waste, and use resources optimally. 

D. Hotel Feasibility Study

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    A hotel feasibility study is a comprehensive analysis that evaluates the potential success of a hotel project.
It examines factors like market demand, competition, financial projections, and operational requirements
to determine if a hotel is likely to be profitable.
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    We at Our Thoughts LSKJ use these steps to make hospitality foundation to top notch:
1. Initial Consultation: Understanding the client’s vision, goals, and project scope.
2. Project Scoping: Defining the specific objectives and deliverables of the feasibility study.
3. Data Collection: Gathering relevant market, economic, and competitive data.
4. Market Analysis: Assessing market demand, competition, and target market segmentation.
5. Financial Modeling: Developing financial projections, including revenue, expenses, and profitability analysis.
6. Operational Planning: Evaluating operational requirements, staffing needs, and systems.
7. Risk Assessment: Identifying potential risks and developing mitigation strategies.
8. Report Preparation: Compiling findings, analysis, and recommendations into a comprehensive report.
9. Client Presentation: Delivering the final report and presenting key findings and recommendations.
The Methodology :
Our feasibility studies employ a rigorous data-driven approach. We utilize primary and secondary research methods, including:
ï‚· Desk Research: Analyzing industry reports, market data, economic indicators, and competitive intelligence.
ï‚· Field Research: Conducting surveys, interviews, and site visits to gather firsthand information.
ï‚· Data Analysis: Employing statistical and financial modeling techniques to interpret data and generate insights.
ï‚· Expert Consultation: Leveraging the expertise of industry professionals to enhance the studys accuracy.

E. Hotel Asset Management

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   Hotel asset management involves managing the investment to meet the specific goals of the owner.

Managing the asset’s investment value throughout its lifecycle is a complex process. It requires a dedicated focus on the hotel’s operational data, the property’s market value, the valuations of the hotel’s brand, and an understanding of capital expenditure incurred through the asset’s lifespan. 

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At Our Thoughts LSKJ, our expert team  has worked around the globe for the owners of the main hotel chains, are permanently updating their knowledge with the latest asset management techniques and have a real, objective view of the current challenges of the tourism market.

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The Areas and Services we assist you with:

a. Monitor Financial Performance

  • Review of the current performance of the hotel in comparison with the budget and with previous yr. 

  • Supervise the budget approval process.

  • Monitor forecasting, balance sheet and on-the-books businesses.

  • Ensure the right balance of day-to-day monitoring and strategic investment advisory.

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​ b. Capital Expenditure​

  • Establish rules on CapEx process and projects approval (e.g. obtain multiple bids).

  • Ensure the right balance between R&M versus CapEx.

  • Monitor budgeting for CapEx and long term planning.

  • Provide ROI analysis.

  • Guarantee full transparency for the owner.

 c. Revenue Management​

  • Unlock access to multi-dimensional internal and benchmark data.

  • Control over rate setting and internet marketing/distribution/social media.

  • Strategic planning, tight supervision of sales and marketing, analysis of market trends, market positioning.

  • Secure full control of the PACE, forecasting and budgeting, room type utilization, flow-through by segment, complimentary room nigh report, geo-stats…

  • Control of channel submission, and reservation cost per channel and other hidden costs.

  • Keep track of the hotel’s sales and marketing targets and supervise the activities.

 d. Operational Reviews

  • Confirm that the owner’s interest has a direct influence on property level operating decisions.

  • Supervise the effectiveness of attracting revenues and cost control.

  • Ensure that the on-going projects are moving along at the property level.

  • Review of external and internal client and staff satisfaction surveys.

  • Evaluate key personnel and request hotel corporate support when necessary (e.g. replacing staff, training, S&M initiatives…).

  • Monitor stock level.

  • Certify that the asset is well looked after.

 e. Advice Ownership on Investment Strategies

  • Optimization of hotel investment strategies, high and best use.

  • Annual comparison with the initial investment goals.

  • Modeling discounted cash flow analysis, valuations and hold/sale analyses.

  • Value alternative strategies, such as additional investments or expansion.​

  f. Advice Ownership on Management Issues

  • Continuous performance supervision and contractual compliance.

  • Establish communication channels between all stakeholders (e.g. owner, operator, executive team, employees, communities).

  • Transparency: good news or bad news, the owner needs to be informed.

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