How to choose the right brand for your hotel in 6 easy steps02nd September 2014
With so many things to consider (from increased distribution to contract duration), selecting the right brand for your hotel can a daunting task. Make the right decision, however, and the joint partnership can be a great unison which will benefit both your hotel and your chosen brand.
Here’s our expert guide to selecting the right brand for your hotel in 6 easy steps:
- Decide what core values and ethics are important to you – What do you want to gain from partnering with a brand. Are you looking to work together with the brand on a strategy to increase booking and revenue? Or are you simply looking to add a name above the door. Decide exactly what you want to achieve for your hotel and stick with those values.
- Decide what you want from the brand – Which brand is best suited to you depends on what you want to achieve from the partnership, the biggest brand is not always the best. Big metropolitan locations can benefit from a big brand unison but niche alternative brands can also help your hotel stand out from the crowd. There are arguments for each, but in the end, it really does come down to what you want for your hotel.
- Make sure you have the same goals – We often see the relationship between hotel and brand owners brake down, often beyond the point of repair, due to a fundamental difference of opinion; brand revenue not high enough or brand related costs too high. The best way to avoid this happening is to ensure you agree on your goals and aims before you sign.
- Think sensibly – Brand contracts are often long-term deals so it’s important you’re certain you’re happy with the terms. Is it a sensible business decision for your hotel? You might find it useful to make a list of pro’s and con’s to clearly outline all the relevant points to consider and ensure you’ve thought about all the details of the contract.
- Get support from our experts – As with any major decision, it’s always a good idea to get the opinion of an independent expert. As a hotel management company, we undertake numerous brand selection projects and know all the key development teams in all the major brands. Our team of experts will undertake comprehensive research and risk analysis on your behalf, considering each opportunity and situation. We will then negotiate on your behalf to ensure you get the best deal before you sign that all important contract.
- Read the small print – Signing a contract which hasn’t been optimised for you, the hotel owner, can have a significant effect on your business. It’s vital you fully understand every term in the contract before you sign. If you are at all unsure, our Managed Hotel Team can help.
A hotel brand can offer a loyalty programme with much more power and reach than an independent hotel can deliver by themselves. Distribution is stronger with additional exposure to new markets, which generally delivers an increase in revenue and subsequent profits. It can tap into new markets and can raise the hotels profile. Provided the branding is chosen well, then it can effectively position your hotel in the right market and associate it with others of a similar standing and profile.