Strategic hotel area program estimate

Notify me of new comments via email. Notify me of new posts via email. Blog at WordPress. Follow: RSS Twitter. Facility Planning. Home About Uncategorized. Share this: Twitter Facebook. Like this: Like Loading Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:. Email required Address never made public. Name required. Energy Conservation ». The results of strategic improvement in performance indicators indicate an efficient way for organisation to ensure the proper focus on those critical areas which requires improvement the most.

The present study also reveals that although financial performance indicators are important, the focus on non-financial performance indicators may offer greater opportunities for measuring organisational effectiveness of service sector in the longer run.

In hospitality industry, setting up strategic objectives of strategy maps must be driven by a customer-orientation and should take customer-related indicators as final outcome measures.

This study also recommends that hotel managers desiring to develop effective performance measurement systems should view performance measurement holistically.

Financial, customer, internal business process, and learning and growth should not be measured in isolation but must be viewed as part of a whole. In this attempt, there are some critical success factors highlighted for hospitality industry.

These factors are critical because if they are executed properly, hotel will achieve excellence in its chosen field. Hotels can take the advantage of BSC methodology to focus on critical areas and design appropriate strategies to improve organisational performance. Researchers and practitioners utilise a comprehensive performance measurement consisting of four BSC perspectives with both financial and non financial indicators for evaluating performance of hotel properties, but they do not consider the construction of strategy maps that makes up such a crucial part of BSC system.

Therefore, in order to fill the gap of the existing body of knowledge regarding the evaluation of hotel performance and strategy development, the present study proposed the strategy map using DEMATEL method to systemically identify causal relationships among performance indicators. In the present study, logical links between the most suitable performance indicators of hotel performance based on the content of BSC is recognised.

By combining the opinions of hospitality experts, DEMATEL technique was employed to determine rational relationships and strengths of influence among performance indicators to establish a strategy map. The multidimensional cause-and-effect relationships between the performance indicators displayed by DEMATEL are more logical and provide a clear road map to help manager choose Bagri critical indicators and focus on the strategy-related activities.

The use of cause and effect analysis helps managers to identify the mix of feasible improvement paths for hotels in all of four BSC perspectives. Referring to the strategy map designed systematically in the study, DEMATEL method can provide workable references for the prioritisation of strategic steps in practice since valid links between all performance indicators are logically exposed. These considerable strategic steps indicate a path for hoteliers and managers to better invest organisational resources in those aspects which warrant the most improvement.

Management should also pay more attention to feedback relationships among performance indicators, since the influence of interdependence can produce positive reinforcement among performance indicators. The knowledge, skills and professional behaviour of employees will innovate and build the right strategic capabilities and efficiencies that deliver specific value to the customer which will eventually lead to higher shareholder value.

Results also reveal that customer satisfaction and retention, market orientation and quality of service are the three most important evaluation indicators of hotel performance. Interestingly, these all critical indictors belong to the customer perspective of BSC.

Thus, it can be concluded that customer perspective of BSC should be emphasised by hotels as final outcome measure. The present study also provide valuable suggestion to hotel managers to focus on profitability, improvement in quality of facilities and services, developing customer-oriented culture, market orientation and hotel occupancy rate. These factors dispatch the strongest influence on other indicators of hotel performance and therefore, managers are advised to pay adequate attention to them.

These indicators, capable of generating competitive advantage, receive the significant influence from all other performance indicators and consequently should be monitored by hoteliers regularly.

In short, strategy mapping is an effective and powerful approach that can help to keep a hotel at its competitive peak.

The steps provided in the map enable hotels to successfully implement strategy in a manner never before experienced. Hotel units struggling with strategy execution will find this map a convincing way to think about, agree upon, and communicate their strategic initiatives to various stakeholders. However, there exist some limitations of the current research that warrant discussion. First, the industry population surveyed represents hospitality managers of some selected hotels of India; therefore it is not appropriate for this study to make the claim that findings are applicable to entire hospitality industry, especially in developed countries where hotel industry has flourished marvelously.

Though, these implications can be valuable to hotels of developing countries, like India, where hotel industry is in growing stage. It is hoped that the study can be reproduced to test the extent of the applicability of findings. Third, the subjective judgments of hospitality experts about four perspectives of BSC may vary from each other. Fourth, selected performance indicators that were adopted for hotels with respect to BSC may not be suitable to other establishments because of unique nature of organisations and their strategic objectives.

Therefore, necessary precautions should be taken about the applicability of the results to other industries. Precisely, the present study Designing the strategy map for hotels with key performance indicators 21 established logical links among KPIs, which provides important insight into the managerial implications of strategic steps for hotel performance improvements.

Authors suggest that hotel establishments should take into account the results of the study and develop adequate strategies that address the necessity of performance measurement system. By having this provision of assessing the performance of hotels, there are all possibilities of having bulk business from the existing customers making the hoteliers more prosperous.

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Keshavarz, E. Khani, A. Kim, W. Lin, C. Malmi, T. Min, H. Nielson, S. Norreklit, H. Oliveras, E. Pavlatos, O. Phillips, P. Rigby, D. Bagri Ruzita, J. Sainaghi, R. Salehi, M. Shieh, J. Speckbacher, G. Wadongo, B. Wu, H. Wu, W. Xiong, Y. Yang, Y. We have worked on a number of exciting projects ranging from boutique mountain resorts to hotel residences, mixed-use developments and many more A highly unique project in an exceptional location where SHC was appointed to assess the financial viability of the development and to create optimal concept and market positioning for the resort.

SHC was appointed by a prominent owning family to carry out an operator search for a historic five star hotel in Geneva. The prestigious property, which is located in the city centre and directly on the lake, generated enormous interest from top international hotel operators.

Following thorough negotiations, a contract was successfully signed with the Ritz-Carlton to manage the property. A high profile acquisition of a portfolio of 5 hotels keys in central Paris where SHC was appointed by buyer side to carry out due diligence in relation to the opportunity. Our assessment focused on evaluation of the deal attractiveness by assessing operations and highlighting property specific topics, critical issues and upside opportunities.

Following on-ground inspections and assessment of financials, investment recommendation was provided with a relevant bid strategy. Based on the research, a detailed roadmap to develop the resort was provided together with 2 investment scenarios including detailed financial analysis and investment returns. A high profile project where SHC was appointed by a prominent local developer to conduct a feasibility study in relation to a landmark hotel development in Zermatt.

Based on comprehensive market and financial assessment, SHC created a detailed concept, positioning, space programming and facilities specifications for the key luxury resort which included a hotel and branded residences. SHC was also appointed to carry out Operator Search to secure a top international operator to manage the resort.

SHC was appointed to carry out a market opportunity assessment in Lapland, Finland. The study included extensive market analysis with on-ground field-work. Based on the research, 3 immediate hotel investment opportunities were identified and detailed recommendations, together with financial analysis and investment returns, were provided. Hotel management aspects were considered by outlining operator options, contract structures and exploring interest form international hotel management companies.

A high profile acquisition of a historic five star hotel in Geneva where SHC was appointed by buyer side to carry out due diligence in relation to the opportunity. A landmark project where SHC was appointed by an international investment consortium to provide strategic advice in relation to a USD million golf resort in Gruyere, Switzerland.

SHC developed detailed concept, positioning, space programming and facilities specifications for the key lifestyle hotel with 27 branded residences.

As a subsequent step, SHC was appointed to carry out Operator Search and successfully concluded negotiations with Hyatt International to manage the resort under the Alila brand — making it the first Alila in Europe. The financial analysis focused on identifying viable lease structures and - based on benchmarks of local and regional contract structures — making recommendations on lease terms.

These included creative arrangements around hybrid lease and financing of property improvement plan PIP. A financially driven assignment to assist a regional real estate developer in investment decisions. SHC carried out financial due diligence and conducted independent valuation of an existing property that was a potential acquisition target.

In addition, SHC was appointed to carry out an analysis which explored various exit strategies with associated investment returns.