Owners are sometimes surprised when I explain how much a management company takes off their shoulders. Many imagine we simply send a general manager. In reality, a good management company runs the entire business of the hotel on the owner’s behalf – and answers to the owner for the results.
We recruit the general manager and the key team, set salaries and structures, and train staff to clear service standards. When someone leaves, we replace them. When performance slips, we act. For the owner, this removes one of the hardest parts of running a hotel.
A hotel room that stays empty tonight can never be sold again. That is why sales and revenue management are at the heart of our work. We negotiate with tour operators, manage the online travel agencies, run the hotel’s own website and booking engine, and adjust prices every day according to demand. The goal is simple: sell every room we can, at the best price the market will pay.
We prepare the annual budget with the owner, control costs month by month, handle purchasing and keep the accounts in order. Every month, the owner receives a clear report: revenue, costs, profit and what we are doing about anything that is off track.
A hotel is also a physical asset that must keep its value. We plan maintenance, watch the condition of rooms and equipment, and advise the owner on when and where to invest in renovation.
We visit hotels regularly, both announced and unannounced, and we use mystery guests who stay anonymously and report back. Guest reviews are read and answered. Problems are fixed before they become habits.
With an independent operator such as LOOK Hotels, the owner keeps the building, the hotel’s own name and the final say on the budget. Our fees are linked to the hotel’s performance, so we succeed only when the owner does.
If you would like to know what this could look like for your hotel, contact us and we will prepare a tailored proposal.
— Maged Farid, Managing Director, LOOK Hotels International
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