Premier Hotel Management & Beyond
Prism prides itself on housing all of our hotel management services in-house. Need a liquor license issued? We have a specialist. Have an occupancy tax question? We have a hotel consultant dedicated to working with properties and their tax needs. With this depth of talent and expertise, Prism Hotels enables our owners to have peace of mind in knowing there a comprehensive management team working on their behalf.
Some of our key hotel management services include:
ACCOUNTING/FINANCIAL REPORTING/COST CONTROL
Prism’s financial reporting is complete, accurate, and open. Regular financial statements – backed by independent internal audits – provide you with all the numbers, while our customized, monthly Owner’s Reports offer the in-depth information you need to make good decisions. The internal audits also generate information that helps us control costs at the property level. This information is returned to our managers in the form of checklists and reports that enable them to keep a tight rein on labor, food & beverage, and other costs. Prism utilizes a proprietary web-based information platform, allowing owners access to reports and analytics at their convenience.
A good guest experience frequently comes down to one team member’s ability to make good decisions. That’s why we make top-quality training a high priority at every managed hotel by Prism. Every manager and supervisor is schooled in the basics of hiring, training, and retaining quality employees. GMs and department heads also come in for training in Sales & Catering, Revenue Management, Cost Control, and Safety, among other essentials. Line employees benefit from role-specific training provided by experienced peers.
SALES & MARKETING
Led by our Regional Directors of Sales, the Prism sales team offers experience, best practices, training, oversight, and support to every property in the field. The sales process begins with the development of a comprehensive marketing plan for each property. This plan – revised as market conditions dictate – provides the framework for a detailed sales and marketing strategy, developed by the regional support team and local General Manager. It also provides the owner with a summary of local market conditions. Our hotel consultants also support front-line management with a range of reports designed to help forecast room sales and catering demand on a month-by-month basis.
Prism’s HR department works closely with each property’s operations team not only to recruit talented hotel personnel, but also to retain them. This calls not only for a competitive benefits package, but also for a positive workplace. To that end, corporate HR provides training and resources in areas of potential risk, such as sexual harassment. Our hotel management goals are both to limit exposure and create a supportive environment. We know that when people are happy and fulfilled in their work, they just naturally give better guest service.
Prism property services personnel oversee all upkeep issues, including staff training, FF&E, housekeeping, maintenance, energy management and energy efficiency reviews.
To maximize safety and minimize risk, Prism puts a comprehensive Risk Management program in place at every property we manage. The program includes annual audits by third-party professional risk managers, insurance carriers, and corporate personnel at each hotel that we manage. In addition, local management develops a risk manual for their facility, performs regular self-audits, and participates in safety training programs.
Thanks to our large and growing portfolio, Prism’s managed hotels and resorts enjoy significant cost advantages of national account pricing and maximized opportunities within brands.
Revenue and yield management is a core focus at Prism Hotels, and our regional teams are intently focused on revenue strategy at every property. In partnership with the hotel brands, we develop and support the execution of pricing analysis and rate plans, inventory management strategies, third party travel agency participation, online marketing, and social media management.
DEVELOPMENT & CAPITAL PROJECTS: MANAGEMENT SERVICES PROVIDED
Our hotel development services cover the full spectrum, from new hotel construction to strategic renovations and franchise update requirements. Our development team draws on over 50 years of experience, which includes more than 35 new builds and over 60 major renovations.
Our corporate capital team works with you to establish special capital budgets for large or complex projects. We then provide expert hotel management through every phase of the program from beginning to end. We also work with you to prepare an annual capital budget – updated monthly -which prioritizes and tracks standard capital items and expenditures.
The Prism team works with you to determine the goal and budget of your project, then expertly coordinates with architects, contractors, designers, and vendors to ensure both quality work and maximum value.
FRANCHISE PIP REQUIREMENTS:
NEGOTIATIONS & COMPLETIONS
With our extensive brand experience plus our expertise in hotel engineering and property services, Prism can effectively negotiate the cost and time requirements of franchise improvement plans. And because we’ve had a hand in defining the best plan for your property, our hospitality management team can execute it as cost-efficiently as possible.