If you own a property or hospitality business that has been hit particularly hard in recent years, or you need assistance to bring your business back to profitability, then a hotel management contract could be one solution.
Vine Hotels has a series of tailored management options for hospitality businesses that allow you access to the expertise and creativity of hospitality professionals with decades of experience. Its specialists are adept at identifying problems and providing workable solutions to turn around the fortunes of struggling businesses.
The Vine Hotels approach is based on the fact that every hotel is uniquely different. That said, improvements in three key areas of sales, revenue, and procurement, can often be a driver for positive change and profitability.
“Our approach is always to analyse and rank the hotel’s performance across these fields, then provide a tailored solution based on our findings. Usually there will be recommendations in one of these areas that can be transformational for a hotel that has hit a rough patch. Sometimes it is all three,” explains Liz Wood group sales and business development director at Vine Hotels.
Procurement – Strategic sourcing for enhanced profitability
Savvy financial management is a key driver of sustainable success at any hotel, venue, or hospitality setting. But getting it right calls for a nuanced balance between maximising the value delivered to guests and optimising financial performance.
The Vine Hotels approach to purchasing exemplifies this balance and it’s an enormous asset to partner properties who can leverage the hotel management company’s bulk purchasing power.
“Purchasing rates are as crucial to our hotels and venues’ success as their selling rates.” Vine Hotels purchasing officer Simon Bunker explains.
“We take a deep dive into supply chains to identify cost-saving opportunities, which covers aligning purchases, discovering new suppliers and engaging in strategic negotiations with both existing and potential new partners.
“We’re often able to use our bulk purchasing power to leverage better deals for our hotel partners, but that’s never to say we will sacrifice relationships built on a local level, which have an environmental and financial impact on the local economy.
“It’s more finding a balance and ensuring we’re getting the best value every step of the way.” he summarises.
Revenue management and diversification
Vine Hotels delivers strong, future-forward revenue management services by drilling down into supply and demand.
A data-driven approach can leverage competitive advantage, allowing management teams to anticipate occupancy levels and formulate a variable pricing framework. The integration of technology with hotel management practices isn’t a new phenomenon, it’s a necessity.
As a leading hotel management company, Vine Hotels has responded to this imperative with the introduction of an innovative software programme – The Vine Revenue Portal. A hybrid operational programme, a revenue management tool, and a sales development platform, all rolled into one.
This comprehensive approach enables senior hotel management personnel to access a wide range of functions, from reservations and booking sales, to staffing and housekeeping. The software generates detailed insights, equipping managers to drill down into specific areas for a clearer understanding of business dynamics.
For example, when a group booking is cancelled, the portal provides deeper insights into how it impacts other parts of the business. This level of detail supports better-informed decision-making to safeguard your property’s interests and profitability.
According to Helen Shepherd, group revenue and marketing director at Vine Hotels: “The integration of The Vine Revenue Portal into our management strategy represents a significant step towards operational excellence. It’s not just about having technology; it’s about having the right technology that complements our team’s expertise and enhances the ability of senior management teams at our properties to manage more effectively and strategically.”
Of course, it’s not just about revenue management. Our team’s creativity and deep market knowledge are used to turn weaknesses and threats, into strengths and opportunities. For instance, manoeuvring through seasonal trade fluctuations and looking for ways to diversify your revenue streams.
“Take Mosborough Hall Hotel in Sheffield as a prime example,” adds Helen “When the corporate market contracted, we capitalised on the hotel’s heritage appeal and further expanded into the wedding and celebrations market. Finding ways to diversify the property’s offerings and strengthen its business model has been key.”
Finding new ways to boost your sales strategy
Direct-to-customer sales are always a priority, of course, but at Vine Hotels the connections with both major and emerging agents also form a key part of any sales strategies.
Liz Wood group sales and business development director at Vine Hotels explains: “One solution that shouldn’t be ignored is third-party booking agents – a segment which Vine Hotels has purposefully nurtured in recent years.
“The Vine Hotels Sales Team has established and trusted partnerships with a diverse range of agents, which helps to deliver the right business for each property. When this element is a part of the sales strategy the results often speak for themselves.
“Moving forwards, the value of these agent connections will only continue to grow as businesses and consumers seek personalised, efficient, and cost-effective accommodation and event solutions. For these reasons, understanding and leveraging the strengths of each partner property is key to success in terms of making and growing vital agent connections.
For these reasons, Wood is keen to reiterate the ongoing advantage of agent relationships through Vine Hotels: “Our agent connections create mass visibility. Moreover, they drive results. We leverage these agent connections to place our properties front and centre, ensuring they’re top of mind for agents doing hotel and venue searches for their corporate clients. It’s a collaborative effort where success is shared, and growth is mutual.”
Overcome challenges with precision-targeted solutions
By far the most advantageous aspect of a management contract with Vine Hotels is the tailored operational and sales approach the company takes with every venue. All properties can benefit from changes to procurement, sales, and revenue but with the Vine Hotels approach this is always balanced with the knowledge that every property comes with its own set of challenges and opportunities.
Wood summarises: “At Vine Hotels, we understand that everyone’s property is unique. We pride ourselves on customising solutions to address the specific needs of your business. It’s a far cry from the one-size-fits-all approach prevalent in the industry.”