From Concept to Profit Generation.
From Concept to Profit Generation.
Hotel Opening: A Masterpiece in the Making
Opening a hotel is an art form in its own right – a complex and demanding process that is not for the faint-hearted. The uncertainty involved during this phase can lead to significant delays and financial setbacks if not managed effectively.
At Top Hospitality, our consultants are here to help you navigate these challenges, mitigate risks of budget overspend, and ensure your property is fully prepared for a successful first year of operation.
Our Approach to Hotel Pre-Opening
Our proven methodology ensures every detail is meticulously planned and executed. Here’s how we deliver excellence during your hotel’s pre-opening phase:
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- Strategic Briefing: We collaborate with the hotel owner, project manager, and interior designer to align with the owner’s objectives.
- Comprehensive Site Inspection: A thorough examination of the property to identify opportunities and challenges.
- Market and Competitor Analysis: In-depth research to position your property effectively within the market.
- Feasibility Study: Creation of a detailed feasibility report to assess the project’s potential and profitability.
- Pre-Opening Plan: Development of a comprehensive plan with timelines, resources, and milestones.
- 10-Year Financial Projections: Preparation of a profit and loss pro forma, including revenue forecasts, expenses, and profitability analysis.
- Sales & Marketing Strategy: Crafting a robust plan covering channel management, pricing strategy, PR launch, and more.
- Technical Preparations: Ensuring all operational requirements are in place, including furniture, equipment, IT systems, and operating supplies.
- Contractor Handover and Compliance: Overseeing contractor handovers, commissioning equipment, snagging, health and safety compliance, and maintenance manual preparation.
- Recruitment and Operations Setup: Facilitating the hiring of skilled personnel and implementing operating guidelines, policies, and procedures.
- Soft-Opening Support: Providing advisory services and operational support during the soft-opening phase until the hotel achieves stability.
Timeframe
The pre-opening process typically spans six to nine months, ensuring every element is carefully planned and executed.
”Success is where preparation and opportunity meet.” – Bobby Unser