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| Date post: | 25-Mar-2016 |
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$ 3,700,000.00
Superb location
P: +64 272 426 881P: +64 9 369 9706E: [email protected]
Michael Osborne Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 21 479 796E: [email protected]
Ron Lamb Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 221 569 330E: [email protected]
Gordon Fridge Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 21 33 54 88P: +64 9 369 9705E: [email protected]
Ray Hart Michael Osborne Lindsay Sandes
If there was a way to increase your hotel’s occupancy and generate a higher volume of online bookings, all while saving time and resources you would want to know about it right? Well this technology does exist and it is called a channel manager, so if you want to find out a little more about channel management so that you can make the right decision to suit your business needs here is the basic information you need to know...
Due to technological advances you will probably find that most of your bookings are now coming from online booking providers or your own website, therefore it is vital that you have the right systems and tools in place to capitalise on this growing phenomenon.
A channel manager is a system that allows you to maintain your hotel’s rate and availability distribution across numerous third-party sales sites simultaneously and seamlessly. You can manage your bookings easily, change prices and inventory and easily change your inclusions for all sites with one single point of entry. The idea is to manage your calendar just once, yet update dozens of booking sites simultaneously. You could save hours and even days each month managing calendars on multiple booking sites.
With a channel manager there is no need for logging on to multiple websites, checking availability manually, trying to rearrange room availabilities and avoiding duplication as it is all done automatically by the channel manager. Sites like Wotif, Expedia, Agoda, Booking.com etc are a great way of increasing your occupancy rates, the downside is that each website needs to be updated
MANAGEMENT
$ 3,700,000.00
Superb location
P: +64 221 569 330E: [email protected]
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Gordon Fridge Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 272 426 881P: +64 9 369 9706E: [email protected]
Michael Osborne Michael Osborne Lindsay Sandes
Wow! What an impact on our Industry. Like it or not, TripAdvisor is here to stay. We have to learn to live with it in these times of fast communication and online information. In “the good old days” if someone had a complaint against you or your motel they could yell it from the rooftop, but very few people would hear. Now if you or your property fails a guest then it is up in red lights straight away. Social media has an important role in all business today and will influence the success or failure of your business. Stick your head in the sand at your own peril. It’s not just me saying it, there have been research studies by the highly respected Cornell Centre for Hospitality Research which confirms that good social media reviews can increase occupancy and can assist in achieving better room rates. TripAdvisor is the most focused social media on your industry.TripAdvisor - Users Perspective:I am planning a holiday offshore at Xmas, not knowing the hotels offshore I immediately went to TripAdvisor and have spent many evenings in bed with my Ipad scrolling through this resourceful website. It has been a tremendous source of information for me and has shaped my holiday and what I will do when I get there. It is a one stop shop for travellers and therefore negates the need for travel agent advice or reading old fashion travel guides.Now please remember I am 57 years old so even we oldies are using the internet to help us with our choices. So how did I drill down? First I naturally searched the city and found that I had a dazzling choice of 1,264 hotels. Then based on the amount I was willing to spend I narrowed the choice to 497 hotels. I then decided I wanted to stay central which reduced the options to 35 hotels. The next step was easy as I ran the filter based on guest ratings and I was down to 5 hotels that had excellent feedback. So from the potentially daunting task of finding a hotel in a huge City I had never been to, I had a choice of only 5 within a few minutes. I was able to look at the 5 hotels, look at professional and guest photos, scroll through the latest reviews and book through the cheapest booking agency. 10 years ago we relied on our travel agent for advice and they seldom had the knowledge and experience to ensure our holiday or business trip was everything we hoped it would be. Now TripAdvisor does not finish there. I can look for and book cheap flights, I can see what to do and where to go, and I can preplan where I will eat from the
Impact
*Interview by Anne Edwards from ‘Ehotelier’
Our brokers are often asked to estimate the worth of motel businesses and some owners are surprised with the outcome. So we thought that it is appropriate for us to set out some parameters so that you can undertake your own rough assessment. However please feel free to contact your local Resort Broker representative with any questions.
Unfortunately, the value today does not have anything to do with what you paid, unless your purchase was very recent. Some owners have seen good capital growth through the recession but most have not fared so well.
Another popular misconception is that the value is a function of your gross turnover. This is a misnomer and may have had some relevance in the past when costs between motels were relatively consistent. This is not the case today but the method is still being used by some registered public valuers and industry participants despite its inappropriateness.
In fact many registered valuations are less than accurate except where the valuer has the relevant experience of valuing in our industry. Many valuers still use the methodology prescribed in a book produced in the 1950’s. In these circumstances the methodology is no longer relevant to the market. A valuation report more than 6 months old is also of doubtful relevance in these changing times. Value has nothing to do with working out a theoretical business goodwill and adding a chattel value based on depreciated cost.
Seldom also is true value a figure suggested by an accountant, as they seldom have the market data to be able to accurately make an assessment and have a tendency to want to deduct a salary for the owner before applying a capitalisation rate. It is hard to remember the last time I heard of an accountant recommending a client buy a motel as their views on worth are generally too negative.
Your local real estate agent is also of little use in establishing value as he or she has no or little experience in motels, not to mention the sale of businesses, even though they may bubble with energy, enthusiasm and promises. Some business owners
How To Value Your Motel
$ 3,700,000.00
Superb location
P: +64 21 479 796E: [email protected]
Ron Lamb Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
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P: +64 221 569 330E: [email protected]
Gordon Fridge Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 21 479 796E: [email protected]
Ron Lamb Michael Osborne Lindsay Sandes
Tauranga and Mount Maunganui
Academy Motor Inn Pacific Motor Inn(twice) (twice)
Coromandel
Sovereign Pier Coastal Motor Lodge
Tuscany on Thames YOURS NEXT?
Whakatane
Tourist Court NauMai Motel
P: +64 221 569 330E: [email protected]
Gordon Fridge Michael Osborne Lindsay Sandes
$ 3,700,000.00
Superb location
P: +64 221 569 330E: [email protected]
Gordon Fridge Michael Osborne Lindsay Sandes
Superb location close to Hot Tubs and Gliding Centre
Superb location
P: +64 21 479 796E: [email protected]
Ron Lamb Michael Osborne Lindsay Sandes
P: +64 272 426 881P: +64 9 369 9706E: [email protected]
Michael Osborne Michael Osborne Lindsay Sandes
