8 reasons why you choose a hotel business consultant
Updated: Apr 1, 2022
* by Kostas Falangas
Running your own business can make you feel like you are constantly being pulled in many directions. When every day the hotelier is constantly busy with day-to-day responsibilities, it is difficult to know if (s)he is following the right approach to achieve his/her goals, commonly a simple strategy. He does not need to do it alone, when (s)he could have the right support from a specialized hotel business consultant who knows the “hotel art”.
Whether the business is facing challenges or intends to move to the next level, a consultant will support the goals and offer a plan for success. (S)he will help to have insight and tactics, commensurate with a successful professional and financial development.
A consultant is an external person who can objectively see a situation and suggest the necessary interventions as well as advise the hotelier objectively. The Hotelier cannot do it completely objectively because (s)he has a daily and emotional attachment to his business.
But the right consultant must have the following characteristics:
1. Responsibility: A consultant will give the necessary advice and will commit that the solutions (s)he proposes are the best to make the transition to the next level.
2. Achievable goals: the ways of operation and dealing with the processes and the organization will be proposed based on achievable and not unattainable goals, which will offer results in the effort to upgrade the management of the company.
3. Organization: The consultant will contribute to the implementation and maintenance of systems and structures successfully. (S)he will provide effective planning as well as tips and strategies to improve the return on investment of the company.
4. Business plan: Regardless of where the business is located, a consultant will guide the creation of a viable business plan and assist in the implementation of management and reporting systems for successful operation. From clear and specific goals to strategic action steps.
5. Marketing: Whether there is time to develop a marketing plan or is no certainty to create it, a consultant will help to create a personalized marketing strategy, something that until now was left to tour operators, OTAs' and everyday sales. Organized ways will be found to attract new potential customers while adding value to current relationships with existing ones.
6. Confidence: When we work towards our goals, we may feel that we are not at the level we want. A consultant can help, support and encourage choices.
7. A fresh perspective: The perspective of a business consultant can help identify problems and solutions that would never have occurred on the one hand, and on the other hand suggest highly productive methods.
8. Development: the consultant can contribute to clearly identifying any business options, confirm with financial instruments any performance of investment decisions. Additionally determine how to implement the lowest possible cost and maximum expected benefit,
The option of employing an external consultant, is important because the hotelier will gain access to knowledge and experience that can be combined with the respective hotel product. The consultant does not replace an operations manager, the consultant is the right hand of the hotelier at his or her level, who together work as a team for the benefit of investment, sustainability, financial results and the right footprint in both society and environment.
* Kostas Falangas is a financial, marketing & operational consultant for hotels in Rethymnon.