Hotel Consultants – What Makes a Good One

If you are looking to enter the hotel market, it may be wise to seek the advice from experienced hotel consultants. The hospitality industry is fairly complex even at the best of times, and it would be imprudent not to gather as much information as you can before making a decision that will inevitably involve a significant outlay of capital.

Hotel consultants act as your barometer for what constitutes a prudent investment. More specifically, they will guide you through the four primary stages of developing and eventually opening an establishment. In finding the right consultant for the job, it is important to ask yourself how well this person is equipped to effectively deal with each stage of the process. Experience, local market and industry knowledge, and communication skills are key identifiers you should be looking for in a top consultant.

First up, they will need to be well versed in the art of planning an accommodation facility. This includes securing financing, overseeing the design phase of the process, and managing construction. This may involve sourcing outside equity partners, and regularly updating the current and projected financial landscape of your investment. Your consultant is also there to facilitate clear and open communication at all levels of hotel management, to ensure that objectives are being met throughout the development process.

As the hotel moves into the middle stages of completion you will require pre-opening support, structuring the personnel framework and working towards an opening. It is important that you take on a hotel consultant who not only knows the industry, but knows the people in it as well. They will hopefully be able to assist you in finding a general manager who fits the mould of what you are trying to create. Once the perfect candidate has been found, and subsequently briefed on the expectations you and any other owners hold, you can then set about furnishing your establishment with competent staff from the top down. In many ways an accommodation establishment only runs as well as its staff, so hiring asset managers, interior designers, HR personnel and other employees is as crucial to your business as the actual furnishings themselves. A competent, knowledgeable hotel manager can help you achieve both ends.

As you become ready for a soft opening, hotel consultants will be on hand to ensure that all relevant insurances have been set up, and that ownership has all the information they need to effectively move forward. Once the hotel has opened, your consultant will act as a point of emphasis for your company ethos, communicating this to the entirety of your team. Moving forward, they will closely monitor financial performance, and remain a steadying influence on the big picture ambitions of your investment.

Global Asset Solution’s hotel asset management services & solutions ensure that your investment meets your ownership objectives.