Hotels in administration
Chardon Management Ltd has a wealth of experience in working with UK hotels in administration and UK hotels in distress.
A typical approach would be as follows when working with an owner, bank or administrator, although this approach can be modified to suit the needs of the contract and indeed the hotel in administration.
- To review all department disciplines, Revenue, Sales, Marketing, Finance, Operations, HR & Training, reviewing the people, processes and technology in each given discipline, and creating an action plan for management implementation
- Prepare a high level 5 year plan
- To review the financial budgets for the forthcoming year, profit & loss and cash flow, and report upon projected margins and realism of income and expenditure
- Prepare new budgets if required
- To review and make recommendations on proposed capital expenditure budgets, in particular any items considered essential to meet business objectives and/or protect the operation of the hotel in administration
- Assess the current people, processes and technology by the above department disciplines
- Design a new fit for purpose management and supervisory structure
- Benchmark the hotels performance against other hotels in the Chardon estate and where possible benchmark the hotels performance against their immediate competitive set.
- Create a department by department action plan for management implementation
- Feedback to the hotel management team & owners as applicable
- Implement agreed strategy with the management team
A typical approach would be as follows when working with administrators:
- Sort out ongoing supply of services into the hotel
- Manage concerns of pre booked conferences & weddings
- Introduce new delegation of authority in agreement with the Administrator
- Communications – establish policy with Administrator with regard to communication process i.e. legal notices on letter head, website, information requests
- Manage employee expectations
- Implement any immediate needs with regard to Fire Life Safety, i.e. Fire Training, Health & Safety Training
- Implement required reporting regime, including cash flow forecasting etc
- Ongoing operational management, to include introduction of revenue development plans, robust sales & marketing activity, introduction of new suppliers as appropriate, and regular business reviews
We all know the market conditions are tight right now but CML can help your hotel or indeed hotels in administration, contact us today on info@chardonmanagement.com
