UpGreat undertakes the operation and management of small and medium sized hotels, either under a Management Agreement (Management Contract) or under a Long-Term Lease Agreement (Hotel Lease).
The final management proposal is carried out after having completed a detailed mapping and analysis of the current state of the business and its prospects, following the implementation of proposed interventions and operational maturity.
Our approach, until we reach our final proposal, includes the following steps:
Detailed recording of the current situation and mapping immediate needs and/or improvement interventions
Competition analysis. Feasibility study drafting
Submission of business plan
Presentation of development plan, actions and timetable
Submission of final management proposal
By accepting the proposal and following the signing of a management contract, our period of cooperation begins. Throughout this period the owner is informed periodically and in depth, regarding all interventions implemented, as well as their effect in business turnover.
A Management Contract, on behalf of UpGreat, 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