Projects
Boutique Hotel well- being on the seaside, Croatia
Implementation of a financial system in order to be able to analyse the Key Performance Indicators impacting on the business and consequently in the decision making processes: USALI P&L “Profit and Loss” statement.
One of the high priority activities was to establish measurable goals related to the financial side of the business, with a strong focus on maximisation of revenues as well as optimization of operational cost.
We agreed that the use of relevant data would become crucial to plan sales and marketing activities and make assertive management decisions throughout the upcoming financial years, hence Hoteliers Inspiration advises the implementation of a Management Control System throughout an USALI P&L format on including a 12 month phased budget for the the year 2023. The analysis, projections and tracking performance of the business will also help owners to determine the value of the business for the selling of the asset/ business.
The aim of the 1st phase management intervention was to:
- Development of P&L “Profit and Losses Income Statement” frameworks and all content to critically analyse the business.
Develop a hotel Budget 2023 into a P&L framework by Following USALI Uniform, Standards, Accounting, Lodging, Industry. Developed in conjunction with the General Manager / Owners the initial 2023 budget for the entire hotel. - Implement, recommend a revenue management program, cost optimization best practices, including operational procedures against desired world-class standards (F&B inventories, Flash Food, Beverage cost and daily revenue report)
- Assist, guide, train and coach members of the hotel involved during the first phase with all of these activities.
Initial Observations:
The property a 4 star Hotel on the seaside in croatia, is a well recognized family business with a long trajectory in the leisure business with the existing hard renovation it will be imperative to consolidate the 4 seasons all year around Villa.
With the implementation of a systematic management control such as the development of 2023 Budget and deployment of Profit & Loss format, management initiatives and judgements reached higher efficiency levels. These initiatives undoubtedly impacted positively on the profitability of the hotel.
We intended to implement the Generally Accepted Accounting Principles or GAAP, which means those conventions, rules, procedures and practices, consistently applied, affecting all aspects of recording and reporting operational, financial transactions in the hotel business which are generally accepted by major independent international accounting firms, with no exception in Slovenia.
Family Resort Hotel with Aqua Park in Slovenia
We repositioned this upper scale 4 star, by focusing on a strong business process optimization that prioritized a revenue management program and a operational cost control.
Revenue analysis by understanding and repositioning market and source of bookings,
As a result ADR increased by 22% and REVPAR by 35%.
Fully implemented USALI system to benchmark and track KPIs, supported by a business plan and S&M strategy plan. GOP and EBITDA of 32% and 26% respectively.
In an effort to reduce cost of distribution, we developed and implemented a multi channel marketing and distribution plan. The hotel generated more than 46% direct sales, and have reduced OTA’s commission and intermediary cost by 19%. RGI index reached for the first since the hotel opened it doors 10 years ago to 1.02.
New Hotel Concept in the Julian Alps, Poklujka, Slovenia
A very unique project in Triglav National Park, Slovenia in an exceptional location where HI developed the whole concept of a upper scale boutique hotel including an assessment of the financial viability of the development, along with the concept and feasibility study we created Business S&M strategic plan for positioning property.
Financial forecasts and detailed investment analysis were conducted for the construction of the property. Detailed recommendations were provided on FF&E and OS&E, accommodation unit configuration, F&B and recreational facilities offering.
Hotel Family Resort, Kočevje, Slovenia
Private Developer
Market and Financial Feasibility Study & Operator Search A upper middle scale profile project where Hoteliers Inspiration was appointed by a Real estate Agency to conduct a feasibility study in relation to a landmark hotel development Kocevje, Slovenia.
Market and Financial Feasibility Study & Operator Search A upper middle scale profile project where Hoteliers Inspiration was appointed by a Real estate Agency to conduct a feasibility study in relation to a landmark hotel development Kocevje, Slovenia.
Based on comprehensive market analysis and anticipating post pandemic trends and financial assessment, HI created together with architects and designers a detailed concept, positioning, space programming and facilities specifications for a 85 key upper scale resort which included a 20 glamping units within the 7.6 hectares of land facing the lake.
New Hotel Concept in the Julian Alps, Slovenia
The owners of a family boutique hotel appointed HI to coordinate and hotel expansion and renovation, the building is 11 years old in an area of about 2000 m2 with 20 rooms, bar, restaurant and sauna facilities.
The owners wants to increase the number of rooms by creating a two new accommodation products, apartments and thematic bunkers for an outdoor and sport lovers segment, the renovation and modification of spaces includes interventions within the existing building.
The business plan and market analysis shown a strong foundation to adapt services and facilities to match the various target groups (sports enthusiasts, families, youth groups, the business community) where the hotel is operating, the focus is on guests who are looking experience the nature and outdoor sports activities.
Apartments & Office Building
HI was appointed by private company to assess an Apartments & Office building for a conversion of an upper scale hotel residence in the center of Ljubljana.
Our study and assessment focused on upcoming post-covid market trends, with a short and medium term residence hotel concept.
The services and amenities designed were proposed to help travellers to discover new experiences and a way of living.
The main challenge was to anticipate and identify market opportunities and align it with concept and design, the result is a powerful storyline for the building conversion.
The main challenge was to anticipate and identify market opportunities and align it with concept and design, the result is a powerful storyline for the building conversion.
We carried out a preliminary financial analysis and a S&M plan to backup and support the renovation cost.
The overall concept focussed on apartments with amenities in the upscale décor range, living and working areas including gourmet kitchen concept, fitness and an Executive meeting rooms just to mention a few.