Five Steps to Building a Hotel Business Plan for the New Era

If talent acquisition is the most important thing happening today, how can we incorporate it into our business planning strategy for 2023? Do we need robots? Maybe we do, especially for mundane tasks like delivering basic items to rooms and vacuuming carpets.

But there are foundations we need to put in place immediately such as improving the bonds between workers and supervisors, training supervisors who have been thrown into these positions through attrition, improving the employee’s quality of life and managing progression career with a more strategic workforce plan. .

This is the time of year when we need to start developing our strategies for the coming year. I have always said that business plans should be clear, concise and simple and are most effective when written before a budget is established. Before coming to the drafting of the business plan, I quote Jim Collins, author of “Good to excellent”, who wrote: “Get the right people on board to the right place before anything else.”

Now that we have the right people in place, it is essential to examine the macroeconomic data. Leisure demand will continue to be strong, business/business travel will improve, as will group travel, and this will translate into a strong 2023 despite inflation, recession or stagflation. Follow these five steps to complete a basic business plan:

  1. Review trend reports, which will show where your hotel ranks as a whole competitively and what costs are incurred by each booking. Hotel supply and demand, the competitive environment, action plans and expected results must be specified. The action plan details who, what, when and all costs associated with each action. Keep it simple.
  2. Develop a budget that will streamline operations and create strategic opportunities for hotels. Since we just came out of a pandemic, be careful with assumptions.
  3. Coordinate multi-pronged marketing efforts by carefully reviewing market intelligence and market timing reports. Create and Stream ” I can not resist “ content for websites and e-blasts. Post to social media at least twice a week to “tell the story”. Make sure you have a public relations plan in place, with or without an agency to help you.
  4. Implement a targeted sales plan by reviewing competitor websites and all competitor social sites including Instagram, Facebook and Twitter. Look at all previous cases and review major marketing reports. Build community relationships and explore creative partnership opportunities and talk to customers, as this leads to customer loyalty and provides timely information about people traveling.
  5. Review revenue management tactics by performing rigorous benchmarking, preparing accurate projections and developing a new responsive business mix. Positioning properties in the right channels allows us to increasingly provide customers with authentic connections. According to a recent study by the American Hotel & Lodging Association, many revenue systems are now leaning towards attribute-based purchases.

Digital Disruption

Mobile will continue to influence the industry, along with other technologies that hotel brands are incorporating into guest offerings. Texting guests before, during, and after tours is worth a try.

It’s no surprise that the future of the hospitality industry is powered by digital technologies. When we seek productivity, we use robotics, not to supplant jobs, but to make them more effective and efficient. Robots vacuuming hotel rooms and hallways allow housekeepers to avoid back injuries and stabilize room cleaning times.

Technology also helps keep everyone safe. For example, we have a room service robot that makes contactless deliveries directly to a customer’s room. Using mobile ordering technology can also help convert traditional food outlets into takeout and delivery outlets.

Robert A.Rauch
+1 858 239 1800
RA Rauch & Associates, Inc.

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