The hotel business is a fiercely competitive one, and it can feel like the hotel industry has to deal with something new every day. Things are especially tough if you are in a crowded market or a small independent hotel going against massive chains. This doesn’t mean that it’s impossible to compete, however; you just have a slight margin of error to deal with. This also means that you have to be thoroughly prepared before making the jump. Here are some of the main challenges that hotel owners have to deal with in their first year.
One of the biggest challenges for new hotel owners is Human Resources. You have to make sure that you hire the right people at every position from the cleaning staff to the people at the front desk. They are an extension of your brand, and if people have a bad experience with them, it will be reflected in reviews even if everything is top-notch.
That means properly vetting people for engagement, starting with your top managers. In the beginning, you’ll be doing much of the HR work along with your manager, so you must be on the same page. It would also be important that you learn some interview techniques to get to know the people you have in front of you.
Damage to Property
This is something that no hotel owner wants to deal with, but some guests can be destructive and some will completely destroy a room. It might be intentional in some cases but there are also cases when damage is caused by accident. Water damage is much more common than many imagine and can require extensive work, so that’s something you’ll have to be ready for.
PTAC units also tend to get damaged a lot. These are often misused by clients. If you’re somewhere warm, chances are you’ll have to replace them a lot even if no one damages them. This is why we would suggest you start looking for suppliers right now. PTAC4Less offers affordable refurbished packaged terminal air conditioners units to reduce energy costs and improve efficiency. This way, you’ll be able to save on both replacement units and energy.
People often throw the word “disruptive” around a lot when it comes to new hospitality trends, but it definitely applies to Airbnb. This service revolutionized the hospitality industry, and many people today would choose an Airbnb over a hotel room if given the choice. That doesn’t mean that all of them will, however. As a matter of fact, many people crave the hotel experience, so you have to emphasize that aspect of your business. You have to go big on service and amenities as this is what will set you apart, and also take steps to make the experience feel more personal.
These are all things you’ll need to be on the lookout for when running a hotel in your first year. If you’re able to surmount them, then you have a chance at surviving and thriving in this business.