Repositioning
To recognize and seize new opportunities, Mihran Kalaydjian Hospitality Consulting Firm can re-evaluate your hotel property and suggest changes that will allow it to successfully compete in its market once again. That is why our clients, and the most recognizable brands in the industry, consistently rely on the hotel management expertise of Mihran Kalaydjian Hospitality Consulting Firm to help them when an investment's performance is not living up to its expectations. With experience in virtually every class of property, our company possesses the knowledge and resources necessary to implement the most productive and cost-effective changes possible.
Positioning of a hotel, resort, casino or other hospitality asset is uniquely complex among real estate property types. Changing market factors, including outside economic forces, shifts in demand patterns and changing competitor pressures, can all influence a property’s success and constantly force an owner to reevaluate an asset’s position. A sound re-positioning strategy is an effective way to maximize a property’s future financial returns.
Mihran Kalaydjian Hospitality Consulting Firm is actively engaged in initiating and overseeing renovations of under-performing properties. The company works toward re-positioning these hotels based upon strategic plans designed to address the specific opportunities with each hotel’s specific market. Renovations are chosen based on anticipated returns on investment, and include enhancing lobbies, restaurants, pools, beaches and guestrooms.
The correct positioning of a hospitality asset at a particular point in its life cycle is truly a complex process, especially as compared to other real estate classes. Constantly changing market factors, including outside economic forces, shifts in demand patterns and changing competitive pressures, can all influence a property's success and constantly force an owner to reevaluate an asset's position.
At its core, repositioning is really product development and our nearly forty years of experience has shown us how to successfully develop products your customers want to buy, regardless of the current business cycle.
Mihran Kalaydjian Hospitality Consulting Firm experience as both developer and owner of a variety of hotel assets perfectly positions us to take a fresh look at each hotel property. When an asset's performance is not living up to owner expectations, our clients look to us to implement the most productive and cost effective changes possible, allowing each property to once again successfully compete in its market. Adding value through repositioning has been a constant component of our strategies to improve return on investment.
Based on our client's goals, we provide the necessary research to assist in the decision making phases, developing a hospitality repositioning plan, and then executing the strategy, whether it be a complete rebranding or simply a refocusing of the business model.
The scope of this work often includes:
- Identification of current and desired hotel market segments.
- Competitive analysis.
- Recommended improvements focusing on the hotel's competitive edge.
- Costing of any renovations or operating changes required.
- Cost-benefit analysis.
- Forecasted operating results.
Re-positioning a hotel with a new brand is often a difficult choice and one that many lack experience in. Mihran Kalaydjian Hospitality Consulting Firm recognizes this and can assist you in finding a brand that not only fits your needs and financial expectations, but also caters to your property’s current and future guests. With strong industry relationships with many of the major brands and experience in re-positioning hotels, Mihran Kalaydjian Hospitality Consulting Firm can assist you every step of the way with the most productive and cost-effective changes possible, and ensuring that your property makes the transition as smoothly as possible.
