Turnarounds

Hotel and restaurant business turnaround has in recent years become a popular topic for many successful “Reality TV” shows.

You would think that this would quickly put right all the hotels and hospitality businesses that need improving, repositioning or recovery of one sort or another.  The shows are mostly good in their approach and offer sound advice.

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We have no TV show but have turned around several struggling operations failing to meet their financial and quality goals and turned them into outstanding success stories.  In many cases they have become award winning top performers.  Several case study examples and testimonials of these can be found on the pages of this site.

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One notable thing about turnarounds is that while there frequently are some common themes - no two turnaround situations are the same.

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Common themes include such things as a “tired” or old fashioned look, bedrooms needing to be updated to a contemporary design, inexperienced owners or managers, untrained staff, not enough attention paid to important details.  In restaurants too many menu items, insufficient or no attention to cleanliness, perhaps lack of food hygiene, inadequate cost control, product inconsistency, lacklustre standards of service.   No or poorly tartegted marketing plan & effort.  Hotel offerings being out of sync with current market expectations.  Little or insufficient importance given to the all important guest experience at every touch point thoughout a customer's interaction.  Concerned families & owners who have lost their way, lost their passion and are about to lose their home as well as their business and maybe even their family relationships.

It makes for great Reality TV drama to see everyone’s shock and joy at the newly presented facility once a refurbishment is done and and re-launch is underway.  I always wonder though what happens when the cameras leave and the show moves on to the next hotel, resort, restaurant or B&B.  Does the new found success continue?  

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That’s what counts after all. 

A turnaround with ongoing improved and sustained results!

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• We work with you and your leadership, your managers and staff to devise and implement the new plan, create new offerings, determine achievable goals, create budgets and meaningful management accounts, agree measurable performance targets, implement KPIs and a dashboard for monitoring them.

Starting with a brief from the owner, the lending institution or the purchaser of an under performing hotel or hospitality business to be acquired, we perform an operational review for you and determine a turnaround plan with you.

An operational review includes:

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• a review of the product, its market and the marketing effort

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• a review of the financial results, costs and control procedures

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• a review of the people involved, their skills and responsibilities

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• a review of customer opinion

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• a review of the competition

If your operation needs a turnaround you want IMPROVED RESULTS and usually you need those improved results FAST!

No two situations are the same but some areas of focus may include to:

Improve profitability

Increase revenues

Find new revenue streams 

Decrease costs

Improve operational efficiency

Improve product quality

Raise standards

Implement quality initiatives

Improve customer experience

Increase market share

Improve marketing effectiveness

Create effective training

Decrease employee turnover

Increase employee motivation

Improve employee morale

Control labor costs

Optimize payroll efficiency 

Improve customer retention

Increase competitive differentiation

Improve customer ratings

Increase referral business

Decrease operational expenses

Implement Revenue optimisation

Increase sales per customer

Reduce cost of sales

Improve asset utilization

Improve collection of debts 

Reduce cost of goods sold

Minimize risk

Increase average spend 

Increase ADR 

Increase inventory efficiency 

Reduce waste

We offer various levels of support throughout the process and on an ongoing basis to ensure sustained improvement.   Our support can include us providing leadership and on going guidance including board participation, brand partner selection, marketing consortium consideration, operator supervision, management mentoring, manager and team coaching, interim and relief management, short term or long term management or management support through a change of ownership or change of any kind including a change of brand flag or pending a sale when it is beneficial to optimise GOP in order to realise the highest value.

Call or email for a preliminary discussion.   http://www.leisuremanagementplus.com/#!contact-us/c1adp

With a few key facts we can determine if we can help to improve your situation, your hotel or hospitality operation and help you to turnaround your business performance.