Post-COVID-19 market
Global Asset Solutions and its experts, list below some of its challenges which should be turned into opportunities with the right procedures and putting in place the right survival guide for your hotels during COVID-19.
The new post-COVID-19 market is creating conflicts surrounding the ownership and management of hotel assets between owners, operators and funding institutions. As a result, hotels will face several weaknesses and threats.
Coronavirus: Impact on the Hospitality Industry
Financial Challenges
- Liquidity issues & potential financial restructuring
- Lack of visibility with forecasting and cash flow
- Lack of cost containment
Business Model Challenges
- Breach of contracts & disputes with tenants
- Construction and renovation delays
- Preparation for potential second wave
- Reputational risk of the hotel
Operational Challenges
- Personnel and payroll planning
- Profit Performance of individual F&B outlets
- Implementation and control of sanitary protocol
- Insufficient operator systems for economic impact
- Limited conferences and groups
- Impact on guest experience
100+ Years of Combined Experience ; Involvement in >1,000 Hotel Projects Worldwide and Managing Hotel Assets Worth Over €3,000 M. Check out all our success stories
COVID-19 Crisis Management Resources For Hotels
How hotels are preparing for a post-COVID? Global Asset Solutions provides its owners with suggestions and solutions support to deal through this Crisis Management for Hotels post COVID-19. Some of the solutions are highlighted below.
Operational Solutions
- Understand which areas of the hotel performance have opportunity in both revenue and cost lines
- Adapt the current operations to meet the new industry requirements, sanitation guidelines and country regulations
- Manage and monitor the payroll to ensure it is in line with pick-up rather than its previous forecast
Financial Suggestions
- Gain visibility by determining how an asset is performing in the absence of relevant last year or budget comparables
- Use zero-based budgeting and understand the “normal” cost levels to keep this in perspective
- Review invoices to find and reduce non-operational impacting line items
Reinvent the Hotel Business Model
- Focus on the business model itself rather than solely on location and demand generation
- Understand which business model is most suitable for the hotel and the market to generate new business and minimise risk
- Reinvent the model by moving away from the status quo and adapting to the given circumstance
Crisis Management for Hotels post COVID-19
Check our Experts in your region and Contact us for a tailored action plan to navigate this crisis
Why partnering with Global Asset Solutions during this pandemic period?
Our Specialty
We offer asset management services for both hotels and more complex assets, such as mixed-use residential, healthcare centers and private student accommodation.
We detect and control excess costs that are destructive in the current context. Our experience in appraisal of assets are crucial when facing current real estate valuation uncertainty. We also have experience working with assets in crisis zones and emergent markets. We have therefore initiated successful COVID19 Crisis Management Resources for our hotels on how to prepare the property for a post-COVID operation.
Bespoke Methodology
Unlike conventional asset managers, we take a cooperative approach when reviewing and analysing the work of operators. We propose solutions that suit each investment and ensure all your goals are met.
Your Partner
We are fully independent from traditional consultancy companies; allowing us to avoid any conflicts of interest and guarantee you complete objectivity with more competitive results.
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We offer our solutions globally