Status Holdings is synonymous with service excellence and consistently high quality products within its portfolio. This forms the basis of our marketing plan. Building on our portfolio and marketing all properties together give us a wider reach and greater marketing budget to benefit all the establishments. The larger marketing budget of joint properties enables us to maintain representation in more international as well as local markets.
Online marketing – All properties are marketed on our website and online marketing platforms. We do targeted marketing for all properties to ensure an even spread of clients though both the seasonal an off seasonal periods. Each establishment is analyzed to ensure that marketing is done to the correct target markets and to create new and exciting target markets. Our holistic approach to marketing allows us to keep all of our properties above the national average.
The sales and marketing team also be represents Status Holdings portfolio at all the local and international trade shows. Once again through proper analytics we are able to decide which properties most benefit from exposure at the various trade exhibitions and sell to the right markets, i.e adventure tourism, conferencing, events, luxury, casino etc.
Company Background & Objectives
Founded in 1998, Sable Hospitality, a Hospitality Sales & Marketing Company in 2008 changed into STATUS HOTELS.
STATUS HOTELS offers individually owned Hotels and Resorts the full perspective of Management, Sales and Marketing. Our Sales and Marketing services are known for the high quality of standard and the attention to detail which we apply. Utilizing unique and individual styles which we apply to the various properties in our group, we strive for increased STATUS HOTEL brand awareness, increased market share and above all, increased occupancy. Our Management services provide the full spectrum of services needed for the smooth running of a high quality and profitable establishment of high repute.
Marketing Goals & Objectives
As per our mission statement “Service, passion and integrity to anyone who might touch the brand in any way”, we grow Status Hotels as a brand that embraces service, passion and integrity. This is evident in our marketing plan as well as with our operational goals.
• Once we have analyzed a property we will set the proper objectives to make the property a success. Our rule of thumb is to have at the minimum an average annual occupancy of 60%. To do this we market in such a way that we identify the quiet seasons and through direct selling we increase the numbers for theses periods while maintaining the numbers through peak seasons.
• Each property is unique so for each one we identify industry problems and create strategies to challenge them. This foresight allows us to recognize problems in the future and counter them before they occur.
• We set “benchmarks” for our sales objectives by using quarterly reports as a way of evaluating the success of our overall marketing approach. We evaluate the “market share” of each establishment and work towards increasing it annually through our individual approach.
• For each property we include our predictions for after tax profit for each of the next five years. We relate this profit assumption based on the contents of our operating budget’s costs figures found in your business plan.
• A portion of the profit will be reinvested in specific areas of the marketing plans, future activities, as well as countering operating and startup costs we have incurred. A sound marketing plan should do more than “pay for itself” and its activities.
• We focus on the weaknesses of each establishment’s competitors by offering better quality at a competitive price. Remember how you react to high prices for poor or marginal quality or service.
• We justify the prices of each establishment by thinking like a customer. We survey a sampling of our potential customer group and ask them directly how they feel about competitors’ products, services, industry prices and any areas for improvement.
• We focus on the wants, needs and perceptions of our consumers and the general public and identify any problems for our establishments.
• Through market research we find the determining factors of customer preference towards an establishment, like price, or social considerations such as environmental impact, product quality or convenience.
• Our goal for each establishment is to offer quality of service, level of service (speed and accuracy), customer satisfaction, and our own flexibility to support consumer demands and requests.
• Through proper analysis we determine whether the property is competing well within its market compared to the growth/decline of the market that they are in.
• If it is declining we identify the problems that exist and in order to change the ones we can and adapt to changes that we can’t control.
• In a mature industry such as tourism, we make sure our properties are able to better adapt to external forces; better than the competition.
• In a new and growing areas of the market, we differentiate ourselves from new competitors. By using a new approach to the marketplace and utilizing the latest technology we ensure our properties become a major player in the marketplace.
• We acknowledge that there will be problems and challenges in the marketplace we are entering but through analysis we can construct a strategy that will put us ahead of the competition.
• We also focus heavily on the local scene, since local markets may or may not follow the greater industry trend for various reasons. We compare the local situation to the national and provincial averages; the trends in sales, and the estimated total market that can be reached by local companies.
• We recognize the position our local competitors have taken in the local market; the clientele they serve, the product they provide, the price they expect to charge for their products and services.
Political and Legal
• With each new property we identify the regulations, permits, insurance, liability, municipal zoning and taxation requirements that we must follow in order to operate each property.
• With each property we identify your direct competition by naming their business, describing their facilities and operations, identifying their share of the consumer market, realizing support for their product and by reviewing the weaknesses of their approach.
• We identify our target markets, and devise a strategy on how each property will meet the needs of the consumer better than the competition does. We list the expectations consumers have for each property type. Since demands may be different, products and services will vary between competitors. Quality, price and after sales service are just some of the areas where we make a difference.
• We accurately predict the sales potential that may be realized by tapping into and holding onto our target markets, and attracting others through different strategies and approaches. These different approaches can be all done at the same time or be more incremental – obtaining a core clientele for our properties first, then expanding into the rest of the market.
OPERATIONS AND MANAGEMENT
Operations and analytics will form the basis of our management plans for each establishment and focus given to the areas that are most lacking.
Under the direction of Peter Van Huffel our various team members will be designated within their areas of expertise to ensure that we get the very best out of each property thus building on the service excellence mantra of the group.
Human & Other Capacity Requirements
The first step of our operational plan is to conduct a broad analysis of the human and other capacities required to successfully run the property – and current and potential sources of resources and partners to help fill capacity needs.
• Do we have enough people with the skills required successfully run the establishment? If not, how will you get them?
• If we need to recruit any new staff, how long will it take, how much will it cost and who needs to be involved?
• Will the new staff require enhanced or new skills? How will these skills be built, over what time frame and at what cost?
Our team will carry out a general assessment of the financial status and requirements of each establishment.
This can be a fairly simple estimate for smaller properties. For Larger more complex properties a more comprehensive financial estimate is required.
In general this estimate is a high level evaluation of the current and potential sources of income, the estimated costs of running and monitoring each property, and any projected financial resource gaps. We also consider long term expenditure and funding needs, particularly for larger improvement projects where the scope of the projects may be far beyond the current capacity of the property.
When estimating expenditure we include both direct project expenditures such as staff, research, monitoring and other resources required, and indirect project expenditures such as office management and administration.
Once you begin actual management our team will use this general financial estimate to help prepare detailed shorter-term (1-5 year) work plans and budgets for implementing our plans.
Risk Assessment & Mitigation Strategy
As we develop our operational plan we assess the risks to each establishment and what we can do to mitigate them. Risks are conditions under which the establishment is expected to function, but which can cause problems. Establishments often have no direct control over these conditions.
A comprehensive risk assessment identifies and ranks potential risks. A risk assessment will help our team identify and understand risks, agree on the seriousness of those risks, rank them, and decide what (if anything) to do to address them.
A risk mitigation strategy is devised to address risks that our team has identified. Our team then develops mitigation strategies for any high risk. Timely risk mitigation allows our team to anticipate risks in advance and hence avoid a major impact on each property.
Finally, one of the most important (yet sometimes most forgotten) tasks is to think about the long term future of the property.
• Sustainability of the property – A property can be said to be sustainable when it continues to deliver profitable results indefinitely after most or all external support has been removed.
Performance Review & Exit Strategy
Once all the planning and analysis is done we sit with the owners and discuss the goals and objectives. These vary greatly depending on current client base, demographics, market share, political climate etc. Based on our analysis we decide on realistic growth potential and cost savings that our involvement will create and propose a 3, 5 or 10 year plan. The plan clearly defines tangible goals and objectives for the property over a said period.
Depending on the property the goals will focus on growth, supply chain, profitability, sustainability or a combination. Should the client feel we are not meeting the said goals and objectives they will inform us in writing. Status Hotels will then have up to 6 months to rectify the situation. Should the client still be dissatisfied an exit strategy will be devised so that both the property and Status Hotels can part ways in good standing.
On to Implementation!
Once we have followed Steps 1 through 4, we get our team together, decide who will be needed at an establishment and with them complete a full Strategic Plan including the Action Plan, Monitoring Plan, and Operational Plan and begin to achieve profitable results! Our Strategic Plan will help us decide where to focus our attention.