It’s time for hoteliers to build their own brand: Sankalp Goel, Co-founder & CEO, DJUBO

By- Sankalp Goel, Co-founder & CEO, DJUBO. 

Every hotelier now can get the chance to evolve his or her brand, and there would be no
need to only depend on the company-owned models. When you follow such strategies,
your cost will be optimised, and then efficiency will be entirely realised. This will help
take the brand forward in the market at full speed.
Long term brand equity: Firstly, you should be focusing on the current equity of the
brand you are working towards. Then you also have to know the scope of your hotel in
the different cities, if it is currently operational in multiple regions or states.
This helps you as a hotelier to know where the next scope is lying hidden and to begin
the entire thought process and planning for future growth without needing the help of a
company-owned model.

Evaluate the individual effort & competency for running an independent hotel
brand: If you are running a single hotel chain or just a franchise at a particular location,
then you can also focus on your individual core capabilities. These capabilities are
necessary to be known in your mind before you can become a really efficient and quick
decision-maker to improve the individual brand image of the hotel itself.
Moreover, running a hotel under a company’s name is an entirely different concept than
running it individually on your name. Thus, you have to be a strong and genuine
personality, who knows how to tackle the threats and opportunities with your strengths
and weaknesses.
Manage the cash flows: Mostly, the hotel lines are depending upon the advanced
payment systems where the cash flows are depending on the credit line for about 70-80
percent of times. However, as an individual hotelier, you have to cross check whether
you can put your cash flows on credit for about 70-80 percent of times or not.
Own & understand the bottom line: When you are for yourself, and you are not
collaborating with the company-owned models, then you can focus on how to optimise
the bottom line. It is a definite case that every loss and profit will be credited into your
hotel’s account, which you own as an individual.
Thus, your clear-cut bottom line strategies can help you carry out the decision without
consulting a third party and delaying the decision unnecessarily.
Break the vicious loop: As an individual hotelier, neither your brand nor you yourself
will ever be dependent on the conglomerates that are running the entire hotel chains.
Then you would not have to follow every wish and command of the board members.

You will be an entrepreneur in control of the entire business and operations line of the
hotel that you own, whether it is in one area/location or multiple. However, initially, it
may be quite overwhelming to be involved in every department.
But, you have to take this step, if you want to break the vicious loop of getting exploited
by the demands of the board of directors of the hotel chains where you will be appointed
only as an executor rather than an owner of the brand or the entire hotel itself.
And in such cases, higher fees and interests are demanded from the director or the
conglomerates in the profits that are to be shared. In the end, eventually, when you
have gained enough experience, you will always feel like owning your own hotel brand
without answering anyone above you, except the society and the patrons your hotels
serve.
Be a differentiator with updated technology: It is an uncanny myth that only large or
company-owned hotels can work with updated technology like CMS, CRMs, Channel
Manager software, or PMS. As the start-up culture is beginning to rise to a new level
each day in the nation, there are loads of cost-effective and profitable sources available
for the individual hoteliers to own a brand that really works and reaches out to the large
masses with the best possible technology available in the market.
As far as the training, operationalisation, and execution of these technological
advancements go by, even a single hotelier like you can gain a better competitive
advantage in the market.
Even your regular business or hotel operations can be automated, that is, if you know
about the best technological tool available at the given budget.
In the end, you should be using the technology that fits the vision and mission of your
hotel to the core. Make such a best use of the technology, that the hotel operations
become difficult for the companies to copy or replicate so easily.
Realise the secret sauce of your hotel: If you are researching the hotel business, or if
you already are experienced in the same, then you must know that almost every sale is
directed to the hotel through the Online Travel Agents. The number of domestic and
international travel agents is increasing day-by-day.
You have to smartly tie-up with these OTAs, make your hotel listings available & visible
on these OTA websites, upload amazing and clear-cut pictures, and mention the
facilities as they are.
If these things are taken care of by you regularly with timely updates, reviews by your
customers, both new and repeated ones, even the OTAs will approach you themselves,
and thus, you can easily match the market level set by the aggregators or the company-
owned hotels.

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