Development Solutions
Preparing to open a hotel is the first step to making your dreams come true.
This process can be difficult and taxing. The key is to have all the pieces of the puzzle, proper planning, timing and a comprehensive understanding process.
Concept and brand development
At Jefferson, we approach all projects with a holistic approach, considering all the elements that contribute to the success of your project. From research to financial practicality, location and design configuration to conducting a practical study.
Finally, we present a series of recommendations from a hospitality perspective.
Besides carefully considering the location (in the existing market scenario), it also outlines possible challenges and opportunities for success. Depending on each project & mix, this approach allows for a tailor-made framework of recommendations, we ensure that our design solutions correspond to your vision and contribute to shaping your company's DNA of the development strategy.
Design
The design process begins with an initial concept.
At Jefferson, we believe in bringing together the creativity and imagination of experienced people. Hospitality designers with attention to detail and workability experience with the vision of the client's project in mind. Match and track the best design solution and exact specifications, know the client's budget and goals and work closely with the owner/operator to ensure design specifications are met, making sure the final design is aesthetically pleasing and suitable for all intended uses and operationally fit.
Strategic Business Plan
Following the initial feasibility study for any new project, it is critical to evaluate what the initial strategy on the ground will be from year one to year five.
A road map is required for the property to achieve projections to meet the financial projections made in the study.
Jefferson, with decades of pre-opening experience, can help clients create a comprehensive business plan that includes not only financial planning but also an initial strategic business plan and a detailed marketing strategy, allowing the roadmap to success.
Pre-opening consultancy
As part of our Pre-opening support services, Jefferson will work closely with your project manager, architects, designers, and project team in every aspect of creating an accurate pre-opening workflow that ensures that plans are translated into an efficient operational framework.
From hotel property positioning to branding, concept development to monitoring product and service standards also help Jefferson review pre-opening hotel budgets, financial forecasts, and activities. Jefferson can help facilitate the appointment of key executives and contribute to the overall marketing strategy operational policies, policies and procedures.
Operational Turnaround
Jefferson can assist in laying a solid foundation from which the hotel can operate efficiently.
We help you review existing plans, SOPs, and operational procedures to improve operational productivity and provide insights and ideas to help you maintain your competitive advantage.
In collaboration with the General Manager, operational procedures for the hotel's entire operating departments, including services such as developing policy manuals, SOPs, and training modules, can be tailored for a pre-opening property.
Operational Control
Overview
The daily pressures of running a hotel often make it difficult for management to step back and look at the big picture.
It is then necessary to seek an evaluation and analysis of their business, whether it is a review and audit of the maintenance processes, a review and audit of the S&M strategy, or even the entire operation.
Jefferson brings decades of hands-on experience in the hospitality industry. We developed a method for evaluating hotel management inefficiently and in a time to improve profitability and ensure overall continued success field of application.
Operational Efficiency
Human capital is continuously declining as costs rise and new competitors enter the market. Not only is the impact felt on operational effectiveness, but also efficiency. In such a market, it is critical to understand the distinction between "nice to have" and "need to have," both in terms of processes and human resources.
The Jefferson team addresses the hotel operation at its core of SOPs, processes and policies, evaluating the involvement of training and standards vs actual service and guest satisfaction and provides recommendations on challenges and opportunities for growth; cost-effective management and ensuring guest satisfaction and as a result, delivering higher profitability to property and its shareholders.
Training & Development
The next logical step towards profitability and building brand strength after any mystery shopping activity is ensuring operational consistency in the delivery of services to guests.
Jefferson collaborates with third-party consultants and specialists to provide your team with a customised package that combines your brand philosophy with Jefferson's quality assurance recommendations and transforms them into process reality.
Jefferson also provides separate training and process improvement packages such as Area specific operational audits and process improvement Management team evaluations.
Operational Training modules
S&M Training modules
Quality Assurance
Mill (1986) identified the aim of service quality as being able to ensure a satisfied customer. Unfortunately, until recently, the focus of quality initiatives in hospitality was primarily on front-line staff selection and training, with measurement and process improvement issues largely ignored. Feedback from guests is critical for hospitality businesses because guests want to be a part of a memorable and delightful experience in exchange for the money they are spending.
Do you believe that the guests staying at your property are receiving value for money as a hospitality services investor/owner/provider? Or is it possible that a competitor is offering more for the same price, treating their guests much better, or even providing the same services but for a lower price?
The chances are that you will lose in each of these situations because guests will choose the better option, and such a shift towards a competitor will result in lower revenue for your business.
At Jefferson we recognise that quality assurance (QA) is an essential component of any operation's profitability and overall brand growth, so we design our Quality Assurance programs to improve your profitability and meet your specific business goals.
Sales & Marketing Support
S&M Support
Sales and marketing in the hospitality industry are the areas that typically have very high turnover due to the high pressure of goals and tasks. This is primarily because hotel growth rates have not matched the growth of experienced and skilled S&M support staff.
Aside from the hit-or-miss rate, the S&M function for any hotel is typically the fuel that allows any hotel to pay its bills and turn profits, so this LiveBean support service of S&M assumes even greater significance.
As part of our support services, our team of Hospitality S&M specialists make it their goal to ensure our clients' business units turn to their profit potential through simple and effective S&M techniques.
- It could be a pre-opening stage where you need us to come in and set up your entire S&M structure and processes.
- Task force assistance with establishing S&M systems and processes.
- Have an interim DOSM lead your project, or o Have an existing operational hotel with its own set of S&M troubleshooting requirements (Audit and re-engineering).
S&M Audits and Troubleshooting
With the constant change in global markets and platforms, hotels frequently underperform. This is due to a lack of appropriate sales resources, processes, market coverage, or distribution systems, as well as spending far more than necessary with subpar results.
To determine what needs to be done to improve and enhance the Sales & Marketing process for increased revenue generation, it is necessary to first identify where the problems may exist.
We at Jefferson believe that a proper Sales and Marketing audit is required before making any Sales and Marketing recommendations, just as a doctor performs a diagnosis before determining what is wrong with a patient and then prescribing medicine and corrective action.
Brand Positioning
Who are you as a hospitality services provider? What causes do you support? How are you known in the market? What is your foundation? What sets you apart from your competitors?
These are some critical questions that a business owner or operator should consider before launching or renovating a hospitality product.
Your market positioning allows you to define your quality standards and demonstrate them to the market, justifying the charges you apply for the services that your hotel provides.
At Jefferson, we work closely with our clients to understand their brand vision and match it with their product to create a synergy that showcases both the investor's vision and the product.
Jefferson, along with his team of brand specialists can help you create or rediscover the soft side of your business. A softer but important aspect that helps you connect with your colleagues. We can help you with this by helping you create your mission and vision, define your brand DNA, dig deeper into your brand values, and create a personalised brand-his-wheel. Once these tools are established, they will seed your entire hotel strategy, including human capital. With these tools, hotels can set standards and benchmarks for how guests, employees, and the market perceive them.
Sales Systems and Processes
The Jefferson team recognizes that they don't always have the resources that other brand competitors have but that does not mean that a simpler and more efficient process cannot be used. Increased use of social media and the internet has revolutionised the sales process. Booking channels are changing, and while company size doesn't matter today, it doesn't matter how quickly you evolve the right systems and processes for sustained growth.
Allow the Jefferson team to work with you and evaluate your current sales systems, processes and practices. Partnering with your management team, we will help you develop faster, simpler, cost-efficient and highly effective sales processes and systems which will seamlessly integrate various sales channels to generate higher revenue for your organisation.
E-Marketing and Distribution
With the transformation and growth of technology over the last 15 years, e-marketing in the hospitality industry has become very important in managing web and GDS channels. In certain markets, over 85% of bookings are made through electronic marketing channels rather than phone/email/fax. With the one-click easy booking of services, guests can easily compare, access, discuss and book hospitality services.
- Who do I work with? What is the right balance of sales push?
- Inventory availability?
- Promotions, advertising, visibility and guest feedback?
- How do I ensure that all my electronic channels are interconnected to my PMS?
These are some of the many questions facing hotel investors/owners/managers and GMs today. Jefferson recognises that there are no simple answers to any of these questions and that the answers to most of these questions lie within the organization's existing systems.
Social Media Marketing
With the increased use of social networking tools and e-travel companies such as Facebook, Twitter, TripAdvisor, and others, the rules of marketing and business-to-customer communication have forever changed. Today's consumer-to-consumer endorsement provided by social media allows guests to choose to avoid a product entirely.
Jefferson's digital specialists provide seamlessly combined solutions that connect social media marketing with what your hotel offers, increasing the visibility and reach of your product. We also help you by offering IPAD and Android solutions, as well as developing a comprehensive social media marketing strategy tailored to your property and budget.
As a part of the social media development plan, the team at Jefferson will:
- Review your marketing plan
- Work with your Sales & marketing leadership team to create a social media plan and
- Offer a 1-day training for key resources on social media marketing, including to department heads
Revenue Management
With new distribution opportunities being added on a regular basis, managing your business and ensuring that you are maximising every channel with optimal timing and price becomes increasingly difficult.
Our revenue specialists at Jefferson will collaborate with your team to analyze current performance trends in your segment and assist you in implementing industry revenue and distribution best practices that will help you increase the profitability of your distribution efforts.
These will include a revenue management audit and strategy review comprising of:
- your pricing strategy and business mix
- rate parity issues, room types selling strategy with room and rate hurdles
- current use of tools and reports
- electronic marketing strategy
- Performance trends and competitive market positioning
Investment Services
Overview
For established and start-up businesses, fundraising is critical to their success and growth. Jefferson Investment Advisory works closely with business owners and boards to help them maximise the value of their assets while minimising risk. Whether you want to raise money or make an investment decision, the possibilities are many and varied. Jefferson ensures the most appropriate options are executed with the right valuations to unlock the best potential of the trading ecosystem. What sets us apart from traditional transaction advisory firms is that we are not a team of financial advisors. We are a team of operational leaders who have built and successfully closed companies. Together, we turn great ideas and compelling assets into commercially viable businesses.
To discuss further please write to consult@jeffersonhospitality.co.uk
Project Development & Financing
Tangible assets and brilliant ideas need a series of steps to be carefully thought through and executed to convert them into commercially viable businesses.
The Jefferson team will work with you to convert your ideas into a bankable business plan and see it through to the go-live stage.
Ideation to conceptualisation
Feasibility study
Business planning
Financial modelling
Development of Investment memorandum
Raising debt and equity capital
Negotiating the deal on behalf of the project principals Structuring of shareholder agreement
Post investment board structuring
Buy Side Advisory
- Defining the needs of the business – corporates, owners or investors.
- Understanding the real drivers behind the desire to acquire
- Identifying and analyzing the financial resources
- Characterising the ideal target
- Identification of targets for acquisition
- Level 1 filtration
- Deep dive due diligence – financial, operational, cultural and people Consider brand fitment, market alignment and matching of ideologies
- Negotiations on behalf of the buyer to arrive at fair value
- Structuring the deal
Sell-Side Advisory
Selling all or part of a business is an art that unlocks true value, not just calculating financial numbers. You have to consider different aspects, the best buyers, their timing, intangible values, exit criteria, brand and team valuations. A primary goal of Jefferson's sell-side mandate is to help clients achieve maximum value for their assets.
- Business valuation: expertly presents the truthful future earning potential.
- Positioning storyline: marketing pitch
- Targeted acquirers’ analysis: identify, analyze, customise the pitch and present
- Provide objective advice on transaction structure, pricing and timing
- Negotiations on behalf of the sell-side shareholders
Joint Ventures & Strategic Alliances
Fostering alliances is sometimes the best way to expand without engaging in an acquisition or divestment. We have deep relationships with promoters across industries and geographies due to Jefferson senior executives' global and industry agnostic experience. This speeds up the process of identifying the best alliance partner.
- Identifying and defining the gap required to bridge through an alliance: market access, technical, operational expertise
- Mapping the potential partners from within the geography or globally
- Developing value prepositions for both parties
- Negotiating and structuring the alliance
- Establishing a framework to ensure smooth implementation of the alliance
