venture

...into the spirit of hospitality!

VENTURE (Oxford Dictionary): VERB

        1. Undertake a risky or daring journey or course of action,   2. Expose to the risk of loss.

   We, at Millennium Hospitality, are here to make sure that you are protected from the investment

      risks involved in the highly competitive and volatile field of operating a business entity in the

      hospitality industry and to shelter you from any potential downfall & subsequent capital loss.

OPERATIONs

HOTEL  PRE-OPENING:

Millennium Hospitality has significant expertise in assuming the full implementation of a hotel investment starting from the blueprint and concept design. From the initial project conception until its opening or its continued operation, our services cover the entire spectrum of hotel ops, with detailed analysis and recommendations such as: concept of the project, developing it both from architectural and aesthetic point of view and from an operating perspective, aiming at the optimal success of the property. Selection of architectural firm, construction company / developer, etc. for the design and configuration of the facilities, the functionality of the areas and the compliance with modern standards with emphasis on sustainability. Market positioning of the property, aiming to lead the market and capture a greater portion of share vis-à-vis the competition. Standards of quality and specs for the purchase of FF&E and the selection of reputable suppliers for installation & on-going maintenance support at the optimum cost.

HOTEL OPERATIONS:

For new-built hotels and/or existing properties who wish to acquire a more efficient management of their resources, based on proven professional standards Millennium Hospitality offers the development of a Hotel Operations Plan: The plan begins with the clarification on the part of the owner of the expectations, ROI and vision for the business. A detailed business plan will be created highlighting the specific actions and targeted goals, including Marketing & Sales plan (see more on this topic below). A detailed operating manual will set the standard operating procedures (SOP’s) for each department and job position. The staffing needs, the duties and responsibilities (job descriptions and specs) along with working schedules will be defined. A monthly/annual budget for the Profit and Loss statement and statement of Cash Flows will be prepared and monitored.

HOTEL MANAGEMENT (long-term contracts):

Our vision is to achieve the best results through our unique approach of hospitality management: We plan centrally, we implement decentralized. Our services begin from the development of the strategies that will add value to the property owner/investor, the guests and the employees. We are based on a goal-oriented philosophy with inventive management solutions. We provide model systems, tools, guidance and techniques to our talented team members to make the difference: to achieve a higher market share, satisfied guests and superior financial performance for our business partners. We emphasize on customer-oriented operating philosophy of the hotel unit focusing our efforts on the ultimate guest’s experience, satisfaction and repeat visits. We implement innovations in technology to identify areas that offer opportunities for increased growth and performance that maximize the economic benefits of the hotel and we heavily emphasise the utilisation of renewable/green energy sources. We provide financial reports based on IFRS on a regular basis, that ensure a systematic monitoring of the financial health of the business entity, while maintaining data accuracy and  transparency. Our ability to make timely, informed and on the spot decisions based on objective data, gives our clients a significant boost in profit margins and financial viability.

STRATEGIC MARKETING & REVENUE MANAGEMENT:

In an ever growing, competitive environment such as in the hospitality industry, the challenges related to the marketing strategy and sales are crucial.

Independent hoteliers often lack the resources, the budget or the loyalty programs of major chains losing market share and competitiveness. With our long, in-depth experience in Sales and Revenue/Yield management, we offer personalized services in a wide range of clients, from city hotels to luxurious resort properties. We create a customized action plan that is consistent with the profile of your hotel. A plan that will bring your business close to the key players, such as individual leisure/business travelers, travel agents & tour operators and conference/event organizers. We act as the necessary extension of the marketing & sales department of your company, offering you a competitive positioning among the main competitors in your market area. With substantial knowledge of the behavior, the needs, the requirements and the purchasing power of the leisure/business travelers, we are able to answer your questions and provide timely solutions to your any market penetration related challenges.The plan begins with the clarification on the part of the owner of the expectations in ROI and his/her vision for the business entity. A create a detailed business plan highlighting the specific actions and targeted goals, including; Marketing plan with analysis of the hotel’s services, the area & local market, evaluating market segments, x-raying the existing & future competitors, developing the marketing strategy with defined objectives including SWOT analysis and the advertising/social media plan & budget.The Marketing plan includes the establishing of Room Rates per period & per segment and the sales promotion of the hotel for individuals/business travelers in domestic/international markets as well as for group business. We utilize the latest industry innovations and automation to implement yield / revenue management techniques and to maximize market share and total revenues. 

CONTACTS