UK: Asset management consultancy Hospitality Associates and Magnuson Hotels have partnered to support independent hotels in the UK.
Under the new partnership, Hospitality Associates will provide asset management including operations and benchmarking, while Magnuson Hotels will provide branding, distribution, and revenue management.
Initial agreements are typically five years with an upfront breakdown. The team states it can reopen hotels within 30 days or less with full branding, distribution, revenue management and local marketing, and will focus son driving direct bookings.
Thomas Magnuson, CEO, Magnuson Hotels, said: “We’re not here to take over, we’re here to help, to magnify the performance and uniqueness of each independent hotel asset. We are here to help you grow, but without expensive PIPs, and a true focus on regaining the dream and momentum of the original grand opening.
“It is very easy for independent hotels to get into a silo, to lose touch with their competitive set and become complacent; not noticing the cracked wallpaper, the cracked teapot, the little things. When hotels are struggling, they must look at how they can increase revenue, increase distribution and reduce costs.”
Stephen Miles, director, Hospitality Associates, commented: “It doesn’t always cost money, we’re not going to come in and tell owners that they need to invest thousands of pounds. Sometimes it can be as simple as cutting down the menu. It’s far better to do eight things well than 30 things badly.
“We know what it means to be at the coalface of operations, we have come up the ranks from front line to senior leadership and we have learned that top-down management is not effective. You need to be able to encourage everyone on the team to step up to the plate at times like these and people want to, if they can see you know what you’re doing.”
Kevin Haygarth, director, Hospitality Associates, added: “We’re here to increase the yield for the investor, it’s not just the rooms, it’s the experience. There is huge value to getting your incremental spend up. One can change their revenue stream overnight if one changes their mindset.”
