Operators and Hotel Management need to make good decisions during periods of crises. A key area of focus for Owners is to ensure the General Managers and the Operator is focusing on the following areas.
- Ensure Cashflows are planned and maintained with sufficient cash retained to meet requirement in the forced lock down period and start-up
- Don’t let short term thinking get in the way of longer-term strategy. Coming out of the COVID-19 crisis requires staffing resources ready to go and strong communication between customers and management
- Utilise the opportunity to re-consider business mix and re-engage staff to a common goal. Well prepared teams will grow back to retain same or even greater levels of market share
- Re-assess the cost base and ensure that sustainable cuts are implemented to maximise flow through when revenues re- turn
- Identify short-term tactics that require action, such as Government support, staff and customer communications etc
- Ensure marketing strategies are in place for the re-opening particularly for corporate clients
- Where Hotels have been used for COVID -19 isolation or medical accommodation ensure proper cleaning processes have been undertaken
- Ensure services have been maintained or are subject to a pre-opening maintenance check
- The focus should be on keeping the Hotel operating wherever possible with scaled down resources; this is critical to a successful
Oversight should be done through either the Owners internal Asset Management team or external Asset Managers.