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Operating Expense Ratio
Using this KPI can help you evaluate whether an investment is worth your time by giving insight into how much it costs to manage / maintain the project. How? By taking the operational cost and rental income into account you will be able to compare the ratio (ideally under 80%) to make a well-informed decision for your investment opportunity. This step can´t be overlooked and our hotel revenue management consulting company always recommends calculating the Operating Expense Ratio to ensure the full potential and financial health of your projects.Payback Period
To start, our hotel management company always recommends determining the actual payback period, otherwise known as break-even, is essential for a real estate investment project and can help to pick better projects with a fast payback period. This can be achieved by determining the number of years it will take to pay back the amount invested.Tenant Turnover
This real estate KPI informs you at what rate your tenants are leaving, and will typically be calculated on an annual basis. Our hotel management company highly suggests knowing the tenant turnover rate will help you gain insight into which of your projects has a more stable tenant cycle. The lower the turnover rate the better since:Popular Posts
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In response to our blog articles on hotel revenue management, we get asked one question very often in particular. 'How do I start a career in revenue management?'. It is posed not only by students nearing the end of their educational program, but also by mid-level managers who have worked in the hospitality industry for a couple of years already. Becoming a hotel revenue manager is their dream job!
No plan is viable without some form of research. Especially if you require outside investment you will need to demonstrate you have done a hotel market study for your new hotel concept. It will also be helpful for you to put your ideas on paper and benchmark them against the market to determine the chance of success. Based on our hotel revenue management consulting and hotel management´s experience we have put some pointers on paper …
We're on a mission to help you select the best channel manager available for you, let's continue. We have covered a number of general system selection criteria in the last release. Due to the important role of channel management within hotel revenue management, we’ll now have a detailed look at rate management, inventory management and security related matters. We'll continue from where we stopped last time, with your price strategy.
At Xotels we see a big shift in hotels looking to move to a high quality channel management tool in order to replace some of the tools they are currently working with. Channel management has become an understanding to every hotelier and it is becoming mature. 1000’s of hotels around the world have used channel management tools on a daily basis for years. Step by step the hotel industry is starting to realize that it requires best of breed tools as part of a solid hotel revenue management operation.
Investing in hotel real-estate requires a lot of funds. We are talking about tens or hundreds of millions of dollars/euros. You need to ensure a proper ROI is generated with such a strategic investment. Moreover hotels are a multi-million dollar operation. In any other industry we would be looking for a well experienced CEO to manage such a company. Who would you trust to manage your hotel investment?Â
The pre-opening phase of a new hotel is both a big challenge and a great opportunity at the same time. Â We are currently going through and preparing for the opening of new hotels in various destinations throughout Europe, and are working hard to avoid common mistakes made in this process. We have listed some of our hotel pre-opening tips below.
