Magnolia Lodging provides property management services that exceed not only brand and owner expectations, but industry benchmarks as well. Our management team is sensitive to market trends and possess an intimate understanding and meticulous knowledge of each brand’s operational and quality standards. We maximize operating performance by monitoring key areas in regards to financial performance amongst their competition, guest service performance and compliance to brand standards and initiatives. Magnolia Lodging strives for a year over year improvement in all relative areas.
Hotels are monitored in the following key areas:
Guest Service Scores
Exceptional guest service is imperative in the Magnolia Lodging business philosophy. Optimum scores are achieved through a weekly review of all properties guest surveys with an in-depth analysis to uncover any trends as well as recognition of any initiatives in place. This provides an open forum for an all-staff discussion to create a perpetual improvement process. Brand provided daily data (SALT/Medallia) is a vital tool in this critical area.
Profit and Loss Statements
General Managers and Department Heads complete a monthly critique of their hotels P&L statement. Key factors for fluctuations in revenues and/or expenses are required to be detailed through a commentary report. This report is also used to gain insight into the General Managers future planning of property expenses.
Balanced Scorecards
Balanced scorecards are issued quarterly throughout the brand. Magnolia Lodging has a goal of maintaining our properties in the top 10 percent of their respective brands. Current scorecard key measures entail quality assurance evaluations, guest survey scores, services & accommodations and the sales segment mix of business. Balanced scorecards are reviewed with hotel teams quarterly.
STAR Reports
Emphasis is placed on the STAR and Day STAR reports. Magnolia Lodging has set forth a goal of no less than 120% REVPAR index indicated on the monthly STAR report. This report along with brand Revenue Management reports are reviewed monthly at a formal “Rate Meeting” attended by General Managers and Directors of Sales along with the company owners, President and Vice President. This forum allows for open discussion as to the direction of the hotels in regards to rates, qualified programs, revenue management opportunities, etc.
Quality Assurance Evaluations
Magnolia Lodging has a goal of “Outstanding” at all of our properties. QA Evaluations are currently conducted twice a year. Owners and corporate staff are very involved in the quality assurance process, a company representative accompanies the hotel team and brand representative at every audit.
Asset Maintenance
Our hotel assets are kept in excellent physical condition. This is obtained through a regular preventative maintenance program for guest rooms, public areas and heavy equipment. Maintenance needs are determined through regular structured property visits, reports and property audits. Focusing on this area not only enables us to keep our properties looking beautiful and inviting for our guests but it also helps us to keep them in top working conditions.
