Legacy’s management philosophy is to draw on its extensive experience to maximise the combination of brand, location, financial awareness and strong sales focus in relation to each property.
The managed hotels are operated by Legacy with a strong focus on financial awareness and unbranded hotel expertise whilst keeping an ‘owner operator’ approach to each property in its local market place.
An increasing number of investors see the advantage of owning hotels whilst recognising the opportunity provided by placing the day to day management of their hotel and leisure assets in the hands of an experienced specialist management company with an impressive track record in the hospitality industry.
Management information is prepared and distributed to shareholders on a monthly basis and regular meetings held to allow for shareholder input, where required.
In conjunction with the General Manager, the Operations Director and Executive heads prepare an annual operating budget and plan which is agreed with the client. Once signed off, the team take responsibility for maintaining agreed standards, monitoring business levels and operating margins, maintaining operational procedures, as well as monitoring staffing levels and skills requirements.
Hotel operations and management process key indicators that are monitored daily and weekly. Operating results are reviewed monthly at unit level and with Executive heads.
Each hotel has a formal monthly business review. Whilst historical trading results are considered at these meetings, the key focus is on management initiatives designed to positively influence future trading results. A typical agenda would include:-
- Historical trading results by revenue stream.
- Trading forecasts.
- Sales, marketing and distribution initiatives.
- Initiatives to develop people and enhance their skills level.
- Driving quality and standards.
- Cost control and working capital management.
- Hotel operations – Focus for General Managers to meet with the Executive team and colleagues to broaden understanding, share challenges and best practice and deliver business change to meet the objectives of the business. A typical agenda would include:-
- Presentation on group performance.
- Quality and standards monitoring.
- Group sales, marketing and distribution initiatives.
- Legislation and compliance updates.
- Feedback on guest satisfaction monitoring.
Additionally, each meeting typically has a key revenue focus area such as weddings, conferencing, banqueting and rooms distribution, including enquiry conversion. The output of this process is a best practice document which General Managers will then return to implement at hotel level. An ongoing process of evaluation, review and revision ensures that we adapt to the changing needs of the market – Locally and nationally.