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  • Jim D

For a lot of Owners, managing Profit is a lonely process



 

WORTH was designed to make a Profit Focused Team

 

If your a hotel Owner, Profit is what keeps you in business. Revenue is what goes in your businesses bank account, Profit is what goes in your bank account. Now let's face it, without Revenue you won't have profit, so were not saying Revenue isn't important. What were saying, is for Midscale and Economy Owners, Revenue is too often all anyone wants to talk about. Brand Representatives, Revenue Managers, OTA's, Smith Travel, Contract Sales companies. There are a lot of people who are watching revenue and are happy to talk to you about it. But who do you talk to about PROFIT?


Interestingly, big companies have armies of people with no day to day property responsibility and no revenue responsibility, who spend all their time analyzing and driving Profit. Their processes and systems are built around improving Profit in every revenue situation.


CIA Solutions has spent 30 Years helping them develop processes, reports, and software to do just that. Now, we're bringing that experience as well as our time examining Midscale and Economy Hotel P&L's as part of Project GROW for Choice Hotels, to Midscale and Economy Owners.


Our core principle is simple. You maximize profit by putting it front and center and measuring it daily. YES daily.


Owners who work Day to Day Managing the Hotel

Owner/Manager are in a difficult position trying to both run the hotel and the business. More often than not Operational concerns will win out the day, due to their urgency. You' may find yourself functioning more are the General Manager than the Owner. Think about the last time you cleaned a room, checked a guest in, replied to a guest complaint, did the deposit, etc. Now when was the last time you looked at how much income the business is making, will make this month, will make this year. When was the last time you considered if it is profitable to keep owning the hotel? Keeping the current flag? Investing more capital in the hotel?


These "Owner Decisions" are the focus of WORTH. WORTH is a system that will watch your bottom line and let you know when things are going good or bad. WORTH can not only project where you profit is trending, it can be set to give you advice on tactics to consider to improve that profit. Owners can take advantage of our Asset Management Assistance. We'll analyze your performance, and give you specific actions to maximize your profit. Best of all, if you are using our service and don't see an increase in Profit, we'll give you back the annual fee.


Check out the screens below to see of WORTH's unique views.


Own more than one hotel?

Time face the hard truth, Managers are not owners and they never will be

If you own multiple hotels and have reached that tipping point where you can't personally manage the day to day operations personally, you are now dependent on others to manage a hotel like you would. The only way to do this effectively, is to create a means of clearly communicating your expectations. Managers don't need a daily that shows them how many rooms they sold or what the ADR was, or what the Guest Comments look like. Those are the things they should already know. What you need them to understand is how is the hotel performing against your goals, and what changes your want them to make in spending, scheduling, room sales, and rate placement.


WORTH is designed with DAILY PROFIT TRENDS for all you hotels, in an Owner specific dashboard. Meanwhile, you managers are shown information like:


  1. Flex and Flow spending guidelines based on Month To Date Room and Revenue Variances

  2. Day by Day variance in Rooms Sold and Rate to levels needed to achieve targeted Profit

  3. Rooms and Revenue needed to hit Month End targets.

  4. Labor impact on Profitability

  5. Customized Recommended Actions to Take not just Variances

  6. And More!


Worth is designed with unique views and data points, and separate dashboards and reports for Owners and Managers




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