I will like to begin this session by saying that; all businesses in the world and Nigeria in particular presently exist in this wave of the ” covid-19 pandemic. Thus, your continued proficient and profitable hotel management will largely depend on what I will be sharing with you in this session.
1. Strategic thinking with strategic workforce.= We are conversant with the fact that; strategic thinking is largely irreversible, and therefore must be engaged wholistically, understanding the Hotel business cognificiently. It also is important to note here that you may not be able to foot wage and salary bills with either the same number of employees or the same volume of amount payable monthly. So here is what to do;
* Merge functions and adjust wage bills to a forcast of 10% wage bill on expected turnover.
*Introduce what I call the employees integrated structure, EIS. This model is geared towards structuring your hotel brand towards “profit sharing mechanism on a monthly to month basis, as it involves intelligent marketing representation both on-line and off-line for key support sections or department of the hotel. ( May need consultant input on this).
* Downsize, right size in other to resize workforce descreetly, and keep personnel s as “active” pool for ad-hoc activities when functions takes place or any needed ad-hoc work schedule and apply “pay as you go” principle for wage.
* Create activities around your hotel brand that will add value to your customers and environment of doing business.( Maintain a breakeven position because of your over heads. This will further bond your business with the environment and potential customers. Note that hotel business is about The “Volume”.
* Give back to your customers in form of ” kind business dispositions and possibly reduce your profitability margin on selected products and services, eg laundry, some drinks, food and concierge services,( since there is an adjustment in fuel Price).
2. Innovative implementation of guest data management.= On this aspect, you can begin to send text SMS’s to all your guest dispositions on a weekly basis with strategic words of business concerns – this would further bond your hotel business for “customer brand loyalty and could even attract” switchers” to your hotel brand after wards!
* The hotel manager could also make special calls to selected “prime” chance guest that are loyal to your brand. It goes a long way to show your hotel cares beyond just doing business. This is what we call ” The extra Mile customer approach”.
3. Competitive price and rate rebate.= It is obvious that all your guest and customers alike, will be affected economically by the afternat of the covid-19 pandemic; to this extent, there would be the overriding need to competitively adjust your rate/price promotional ly, also putting into consideration your over head % when doing this. But, competitive review for a specific duration is imperative to critically resonate with the aftermath of the covid-19. Pandemic.( You may wish to engage experts to help on this ).
* Guest loyalty promotional activities will also be an added value. But this should suit your hotel brand positioning.
4. Brand positioning.= This is an aspect of the generic Life of your hotel business where you are perceived ” rightly or “wrongly. What ever style your hotel brand represent,; must be seen to project that.
* All your social media platforms must be seen to be resonating passionately with this “happening” both currently and Post- covid-19 .
5. Measuring your accounting ratios for decision making. = All the concerned accounting rations eg. Liquidity ration, asset ration etc should be analysed to ascertain the health of your hotel business after the covid-19 pandemic to determine further business decisions as a going concern. I will come soonest with another session.
Thank you all hospitality practicioners, hotel owners amongst others!
Napoleon Mamman- Principal consultant ( Napsnan consulting)