Turnaround of Distressed Properties
We begin by undertaking a Situation Analysis, which provides a rapid, factual assessment of the current situation, including a review of cash flow, debt service capacity, capital structure, products, services, operations, reporting systems and controls and management team capabilities. These areas are critical to the success of any organization.Once we area able to get a true picture of the situations, the next phase is to implement a turnaround plan, which often involves re-engineering the company's processes and rationalizing its operations. Naples Hotel Group's team of professionals has extensive hands-on experience in operational restructurings. Naples Hotel Group will implement a new business plan that will encompass detailed planning and implementation in each department.
We attend to the vital aspects of the business-- cash flow, bank and creditor relationships, vendor and employee relationships, operations, and sales and marketing plans. We evaluate the physical condition of the property and risk management policies to determine areas that are in need of restructuring.
Our turnaround process is designed to improve shareholder value through better asset productivity and operational excellence. We present cash flow forecasting that will increase the confidence in a property, as well as boost the confidence that lenders and creditors have towards their client. NHG produces tangible results that are sustainable and contribute to the hotel’s overall competitiveness.
Overhead
We will examine all purchasing in each department and evaluate on proper POR costs. We conduct a review labor costs and implement the correct standards for hours within each department. To reduce costs, we examine utility costs and implement energy savings tactics.
Staffing
We interview all associates and review their positions and job descriptions to insure we have the best people in the best places to maximize productivity and control labor costs. Benefits and human resource items are reviewed so that the best resources are in place and make sense for the owners and partners.
Online Strategies and Internet Exposure:
We evaluate a hotel’s presence on the internet and implement a new online strategy. We insure that all search engines and web channels are set up correctly to maximize the hotel’s exposure. Social media channels such as twitter, trip advisor and facebook are incorporated to enhance each Hotel’s web presence. To further increase market share., we review all market promotions and possible sales opportunities
Property Condition:
We have extensive experience in property design and construction. This allows us to take a close look at the physical condition of a property and assess any issues that may create unnecessary expenses for our owners. We examine each building an its mechanical, plumbing and electrical plants to detect problem areas and provide action plans to correct potential issues.
Overall Operations:
Our strongest focus is on achieving complete guest satisfaction. We will implement proper training to all our associates so that we can provide the WOW factor for each and every guest. Focusing heavily on guest satisfaction will allow the bottom line profit to come much easier. We provide a working environment for our associates that is based on honesty, integrity and respect for each other. Our team building approach creates a desirable place to work, that is fun, exciting and empowers each associate. This in turn, creates a great experience for all of our guests.