Few areas are as important to planning and decision making as efficient accounting systems. Up-to-date information on occupancy; room rates; food and beverage costs; and revenue, are frequently analyzed to allow management to more efficiently guide the operations of a property.
Our expertise in financial planning for the owner is reflected in our commitment to develop accurate operating forecasts, cash flow projections, capital expenditure plans and recommendations enabling each owner to make timely and well-informed investment decisions.
SHG submits a monthly, detailed profit and loss statement showing the results of operations for the preceding calendar month, the operating year to date and a comparison with the same month of the preceding year. All such profit and loss statements are prepared in accordance with the Uniform System of Hotel Accounts.
SHG handles all aspects of operating a successful and efficient hotel. This includes recruiting, hiring and training all on-site staff; designing and installing all operating, control and reporting systems; preparing pre-opening and first-year operating budgets, as well as cash flow projections; and creating comprehensive sales action, pre-opening marketing and advertising plans.
For a new hotel opening its doors, operational planning starts early. Staffing needs are evaluated; efficient operating procedures are developed; food and beverage service is planned; costs and revenues are projected and analyzed; and on-site management is selected. When the property is in final stages of construction, operational testing begins.
And, by the time the hotel opens its doors, it can begin to operate efficiently and profitably.
Our commitment to excellence is supported by comprehensive training programs, based on our belief that every hotel employee must be sales oriented. Sales goals are uniquely established for each sales associate. From the moment of hiring and ongoing, we provide strategic training to our sales teams that incorporate our company's sales and marketing philosophies on building business. We believe in the "back-to-basics" of calling on our customers, personally, so we may capture and retain their business.
A comprehensive business plan for each property is a key element to meeting the goals for the budget year. Each year SHG evaluates the market competition, as well as property strengths and weaknesses. We create a business plan unique to each property to ensure higher occupancy with increased sales and profits, as well as to build repeat business.
We provide consulting services on new hotel developments, renovations, acquisitions and existing properties. To assure a positive return on investment, SHG's consulting services are customized to the client's needs. Our team of hospitality, construction and financial professionals can assist you and your company in numerous ways, and is even willing to adopt a short-term agreement to give your hotel the edge needed to succeed in today's competitive marketplace. Here are a few examples of some of the consulting services that we can offer you:
- Feasibility Study and Financial Analysis
- Contract Negotiation
- Comprehensive Sales & Marketing Plans
- Business Plan of Operation Food & Beverage, Profit Margins and Food Cost Analysis
- Development Assistance for New Properties
- Labor Systems and Controllable Costs Structures
- Evaluation and Recommendation of all Hardware Systems such as PBX; PMS Operational Plans; and Budgeting and Forecasting Procedures
- Market Assessment and Sales Plans and Actions
- Assistance with the FF & E Package Preparation
The tightening of the financial markets has led SHG to broaden our services to include assistance in securing hotel financing. From equity capital for joint venture opportunities to debt financing, SHG has had great success in creating relationships that provide beneficial financing options. We view the financing mechanism as a tool to expand our management services and believe this sets us apart from our competition. SHG understands and can navigate through the banking community to negotiate the best loan for our client's needs. SHG prepares complete financial packages that include:
- Development Cost and Allocations
- Projections & Proforma Feasibility Studies
- Owner's Franchise Application
- Franchise Information and Fees
- Owner's Personal Financial Statements
SHG prides itself in using cutting-edge technology that is available to the industry to assist in, not only providing superior guest services, but in helping to provide efficient and streamlined methods of helping to manage our hotels. We evaluate the best integrated phone, property management, energy management and centralized accounting systems.