Hotels, restaurant and Pubs can be complex service led businesses.
Pubs and Restaurants could be said to be more ‘Retail type Food and Beverage Businesses’ – at the mercy of footfall and their local environments – but marketing led.
Hotels are much more complex businesses with many different types of services and facilities – more exposed to the wider world and its vagaries. Hotel rooms can be booked by guests who are actually far away from the hotel’s own locale – or even via Online Travel Agencies (more commonly known as OTA’s). Hotels live within a Global economy now.
Restaurants and Pubs tend to be ‘Lease’ based. Run directly by those who own the lease. Hotels are serious Assets. Costly to acquire especially in major cities. Hotels can be run by operators or brands while owned by someone else – this arrangement called a Management Contract.
Businesses that are smaller and wider ranging (such as Pubs and restaurants) will tend to be run from a Central Office with resources such as Finance, Marketing and HR in that Central HQ. Smaller Hotels (e.g. smaller budget based operations) can be like this also.
Larger Hotels however will tend to have these resources within the operation itself as they need to be onsite and able to respond to the business’s needs more immediately.
All this makes for a complex business that needs reviewing and analysing. The trends and costs need to be grasped, the business picture established and the model understood.
The modern Technology of today needs to be considered and linked into the plan also. Gone are the days of paid-for Wi-Fi. Direct Costs need to be managed and controlled.
Profitability at the end of this – the crucial bottom line- has to be managed. All this I can help you with.
