Hotel Asset Management – Barometer for Asset Performance

Have You been Giving Attention to Your Hotel Asset Management?

Why is that, you ask?

Hotel Asset Management is one of the principal strategies for return on investment!

What? Yes, it is serious stuff.

See Infographic below to understand why hotel asset management is so critical.

Ultimate Guide on Hotel Asset Management

3 Key Areas of Hotel Asset Management

Hotel Asset Management broadly has 3 key areas:

Asset Acquisition
Asset Utilization and
Asset Performance.

Asset Management deals with:

How a hotel acquires its assets?
What are ways a hotel utilizes its assets and
How a hotel asset performs

Acquiring an asset is directly related to its revenue producing potential.

Utilizing an asset means how well it is used to produce the highest revenue.

Asset Performance is all about what return on investment it delivers to the owners.

The Full Monty

Want to have a complete picture of Hotel Asset Management?

Click for the Ultimate Guide on Hotel Asset Management Basics.

It uses a hotel assets example to explain the powerful strategy of asset management.

Did you like this Speed Tip on the asset management?

What are Speed Tips, you ask?

Great Question.

Learn all about it below.

SPEED Tips - Learn in Minutes!

SPEED Tips - Learn in Minutes is a series that brings basic concepts and tips to assist beginner hotel managers.

You will get byte sized concepts explained to you in simple, non-technical language.

The philosophy behind SPEED Tips is to:

quickly and
briefly explain
a fundamental concept
often supported by visual elements like a :
- video,
- infographic,
- screenshot,
- slideshow and so on.

You will end up learning in minutes!

The fundamental concept may be about hotel:

financial statements
evaluating financial performance
revenue management
leadership
productivity and so on

Want to stay updated on all SPEED Tips?

SPEED Tips You May Have Missed

Here, you will be able to access other SPEED Tips in the series that you may have missed.

What the Hotel Profit and Loss Statement Does Not Show You!

Difference between Revenue and Yield!

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About the author, Lakshmi Narasimhan Soundararajan

Lakshmi Narasimhan Soundararajan is the Founder of Ignite Insight LLC a New York City based consultancy, which specializes in Hotel Finance Training, Coaching and Consulting.

Right from the time he was in school, Lakshmi had a head for numbers. In fact, he says, numbers talk to him and tell him stories. At the same time, as he fashioned his career in the hospitality industry, he worked closely with colleagues who did not have a financial background. He saw them struggle with numbers and fear them.

Lakshmi made up his mind there and then to commit his career to hotel finance training by simplifying numbers for the benefit of his non-financial background colleagues. He founded Profits Masterclass first and then Financial Skills Academy with the philosophy of assisting managers and small business owners to Build Financial Skills, Knowledge and Ability in themselves.

His vision is for Financial Skills Academy to be the Ultimate Learning Hub for Hotel Finance Training.

Lakshmi 's all time favorite historical figure is Leonard Da Vinci and in particular Da Vinci's love for simplicity. When founding Financial Skills Academy, Lakshmi based the value proposition for his hotel finance courses on three foundational principles: SIMPLE. NON-TECHNICAL. USABLE.

Lakshmi can be contacted at +1 201-253 5000, nara.profitsmasterclass@gmail.com or at LinkedIn www.linkedin.com/in/slakshminarasimhan/