Legacy Hotels and Resorts are able to assist with the full evaluation of project opportunities whether it be limited refurbishment, full business re-positioning, extensions, new revenue streams or acquisitions and disposals.
In recent years our projects have included the repositioning of two hotels (Stratford-upon-Avon and Salisbury) from mid market 3 star properties to repositioned 4 star, full service hotels that have become leaders in their respective market place.
During Q3 2008, Legacy consulted on and delivered the successful opening of its first new build, 75 bedroom hotel in Preston City Centre having secured a long term management agreement to operate the business.
Using market intelligence and extensive operational experience we are able to provide guidance as to the payback opportunity, return on capital employed and co-ordinate full market condition surveys on the owners behalf using data from sources such as TRI Hospitality and PKF to establish the trading ability and viability of the proposal.
In addition to our contract management fee we also provide a business development plan that encompasses:
- Budgets and forecast cash flows
- Sales, marketing, distribution and PR objectives
- Cost controls and financial monitoring
- Employee recruitment, training and retention
- Risk assessments
- Preventative property maintenance programmes
Our experience of hospitality operations allow us to draw upon a network of recommended interior designers to best ensure that the initial scope of works match the intended brief and cost parameters.
The collective scope of works will encompass design, co-ordination of specification, delivery and installation.
The integrity, practicality and durability of the designs are crucial for the longer term returns required from the operation so as to ensure that the full financial rewards are maximised.
Our operational expertise allows us to interface with the construction experts to ensure that any proposed scope of works are operationally viable and meet the requirements of an ever demanding clientele. This input is key to ensure that the project strikes the right balance between operational disruption and the need to complete the work on time and within commercial parameters.
Coordination and phasing of all elements of a project are key to it’s timely delivery and cost effectiveness.
Our expertise allows Legacy Hotels and Resorts to create and implement a comprehensive pre-opening plan which will encompass the following:
- Budgeting, forecasting and cash flow management
- Procurement and deployment of base operating stocks
- Employee costs
- Team recruitment and development
- Sales and marketing plan by revenue segment
- Market competitor evaluation by revenue segment
- Pricing strategy, revenue management and distribution
- Departmental objectives and action plan
- Standards implementation and monitoring
- Comprehensive PR planning and delivery
Legacy Hotels and Resorts have a sound and experienced understanding of the UK branded franchise market and are well placed to assist in the evaluation of the best solution to the opportunity and market place.
In appropriate circumstances, Legacy Hotels and Resorts are well placed to operate a hotel business on a management contract, under a selective master franchise agreement.