Upgreat Hospitality undertakes management of small and medium sized hotels, either under a Hospitality Management Agreement (Management Contract) or under a Long-Term Lease Agreement (Hotel Lease).
The final management proposal is made following a detailed analysis of the current state of the business and its prospects, after the implementation of our proposed interventions.
A Management Contract, on behalf of Upgreat Hospitality, involves undertaking the Advisory Management & Organization of the Tourism business, in order to:
- Improve financial indicators of the business, through revenue growth combined with reduced operating costs
- Upgrade offered services and the hosting experience offered to guests
- Improve business organization and create a long-term business plan
- Achieve better promotion of the business and enhance its reputation
In the case of concluding a Management Agreement, the business continues to operate normally, under the existing corporate status; our contract is in the form of consulting services provision.
Advantages for the owner:
- Professionals take control of the hotel and manage it in the most beneficial manner
- Owner keeps all property benefits (cash flows, depreciation deductions, etc.)
- Duration of the lease is limited
- Owner retains an emotional connection with his business
The Long Term Lease Agreement (Hotel Lease) involves leasing of fixed business premises in exchange for a pre-agreed price (fixed amount, a percentage of the gross income of the company or a combination of the two above-mentioned contracts).
The lease is long term and all operational and financial obligations are transferred –starting from the initiating date of cooperation onward – exclusively to UpGreat, which undertakes management of the Hotel.
Advantages for the owner:
- Retains title to the property and receives in the near future any added value to the property, created by by the operator
- Has little or no financial risk, while cooperating with a reliable partner company
- Has technically no involvement or engagement obligation in the operation of his hotel unit