M & R Hospitality carefully develops a strategic business plan for each hotel. These personalized plans include a realistic operating budget, a capital improvement budget, and a sales and marketing plan. All budgets and plans are consistent with current franchise, and local market requirement. We make sure the owners approve any and every plan before implementation.
Each property is assigned a Director of Operations who is responsible for the hotel property management. The Director of Operations oversees the assigned property at least once a month. These consistent, on-site visits include inspections of the property, as well as reviews of the management activities. The Director of Operations works with the General Manager to ensure the highest quality operation.
Each M & R property has specific policies and procedures defined by the company and franchising requirements. Inspections and evaluations are based on the specific requirements of each property. Through consistent communication M & R adapts policies to fit with the ownership's requirements. Strict standards of excellence are kept up through monthly financial meetings and regular communication. This ensures each property will not only be successful in its standards of service, but profitable.
Property will not only be successful in its standards of service, but profitable.
Integral to a hotel's success is its manager. M & R Hospitality has taken pride in being able to find and keep the most competent managers for a given hotel property. Furthermore, the best available personnel are found for all operational areas; a key to our success is the longevity of our employee associates, both in the home office and in the field. The company is well versed in ongoing Federal Regulations regarding personnel such as ADA, OSHA, FMLA and COBRA.
M & R Hospitality Management works with the top suppliers and brands throughout the country. A huge benefit to choosing M & R is our ability to leverage pricing through national contracts. This is due to our strong ongoing relationships with our suppliers. We are able to find efficiencies and maximize profitability because of our large assortment of brands and suppliers.
The M & R accounting team prepares monthly financial statements. The Director of Operations evaluates these statements, and reviews this data with the ownership on a monthly basis. The financial performance of a property is measured against the annual budget that M & R prepares for the ownership's approval prior to the beginning of its fiscal operating calendar.
A centralized accounting office maximizes efficiency and reduces operating cost for each property that M & R Hospitality manages. The in-house Accounting Department at M & R is staffed to handle accounts payable, financial reporting and other services for the company's managed hotel properties. The support services include customized Profitvue accounting software by Aptech Reports. This software generates reports that include, disbursement activity, payables, receivables, and changes in cash position, general ledger transactions, balance sheets, and flash profit and loss statements.
An independent CPA firm that conducts monthly audits for several hotel ownership entities regularly analyzes our accounting process.
M & R is pleased to now offer human resource amenities to all of our properties. This program provides, payroll, employee screening, compensation and benefits management.
M & R works with each hotel to ensure employee satisfaction and proper management of all employee benefits. We utilize our access to background screening, skills assessment to improve hiring practices. Our HR program also manages health insurance policies, Group Life Insurance, Simple IRA plans, vacation policies, and worksite safety.
M & R's ultimate goal for hotel owners is to maximize RevPAR at each property. Our Director of Revenue Management works with each property leader to focus on competitive pricing. This enables each hotel to maximize revenue opportunities while adjusting to changing trends in their market.
Revenue Management involves adjusting rates and guest room inventory based upon the demand. Our monitoring of the inventory, the guest room rates, as well as the length of each stay per guest ensures the maximization of revenue at each property.
M & R Hospitality place special emphasis on a strong and effective sales and marketing department. Sales work strongly on two levels, locally and domestically. Major consideration is placed on working with managers to better enable them to work with their sales staff. Following careful research, strategic marketing plans are put in place for each property in the portfolio and reviewed quarterly. Marketing dollars are carefully allocated and accurate market segment tracking is reviewed to assure that the monies are being spent wisely. In order to further promote sales and marketing, major national conventions are attended regularly.
The sales and marketing department handles all advertising including direct mail.
