Asset Management
Widewaters Hotels provides advisory services to hotel owners and investors to achieve optimal performance from their hospitality investment. A constant oversight is performed by the following Asset Management services:
- Financial Performance Analysis
- Management Contract Compliance
- Brand Relationship Management
- Benchmarking / Competitive Analysis
- Risk Management / Mitigation
- Capital Expenditure Planning
- Monthly and Quarterly Property Review Meetings
Revenue Management
Both strategic and tactical expertise will assist hotels in maximizing the properties full potential. Widewaters Hotels provides a consistent approach and delivery of services which revolve around pricing, inventory controls, segmentation analysis, forecasting and demand opportunities.
- Weekly Sales Strategy/Revenue Meetings and Reports
- Value Assessment – evaluating competitors strengths
- Ongoing 3rd party channel management (OTA’s) including parity assurance
- Rate and inventory audit
- Analytics of all industry reports
- Revenue management staff training
F&B Concept / Management
It is Widewaters Hotels goal to exceed guest’s expectations within our hotels Food & Beverage services. Our services encompass:
- Facility Management
- Concept Development
- Menu design
- Catering & Wedding Product Development
- Costing
- Daily reporting on revenue, expense and labor controls
Human Resources
Widewaters Hotels champions a set of core values. We understand that effective associates – our most important asset, provide us with a competitive edge. We encourage a working environment of trust and respect. Our Human Resources department assists in developing a productive staff through:
- Recruitment and Retention
- Associate Recognition Programs
- New Hire Orientation
- Ongoing Training and Development
- Monitor federal, state and local employment laws
- Maximize cost controls in Workers and Unemployment Compensation
- Benefit Administration
- Competitive Wages
- Progressive Benefits
Information Technology
Our Information Technology department is involved from a hotel’s conception working directly with the operation department to provide technology for the property’s business needs. The department also maintains a strong relationship with brand technology champions, which in turn gives management and ownership the tools they need to operate efficiently.
- Business process design, development and documentation
- Property Management Systems (PMS) management and support
- Point of Sale Systems (POS) management and support
- Vendor management
- Governance
- Quality assurance assessment, testing, monitoring and management
Operations
The long term stability and financial success of a hotel well operated, delivers superior guest services, retains associates and instills operational excellence. Aided by expert support from our corporate office and property-level empowerment in areas such as:
- Sales & Marketing / Business Planning
- Brand Standards
- Budgeting
Accounting And Finance
We provide financial support to our hotels through a variety of accounting and finance functions and controls. Our centralized accounting specialists bring experience, accounting knowledge and a focused dedication to meet the needs of stakeholders.
- Financial statement preparation
- Tax compliance
- Invoice and payroll processing
- Budget and forecasting facilitation
- Policies, procedures and training of hotel accounting staff
- Daily reports
- Cash management
- Operating Budgets
- Forecasting (weekly, Monthly, Quarterly)
- Flow-Through Analysis
- Brand Audits
Property Facilities Management
The Property Facilities Management department oversees all areas of property management, engineering issues, property improvement, product improvement and life-safety through:
- Engineering technical support
- Systems and procedures to ensure the health and safety of guests and associates
- Proper conditions for machinery and property
- Coordinate and prioritize maintenance activities
- Prepare Repairs and Maintenance budgets
- Develop 5 year Capital Expenditure Plan
- Identify and introduce environmentally-friendly systems and equipment
- Comprehensive Annual Facility / Asset Audit
- Detailed Preventative Maintenance Program of entire property including heavy equipment