Tristar Hotel Group has developed a cutting-edge, dynamic online training and revenue management solution for limited service, full service, resort and boutique properties...
Tristar Hotel Group is a company that can provide everything you need to ensure the success of your Hotel. Whether you are looking for a full management company to oversee all aspects of your operation, or simply some consulting to get your Property moving in the right direction, Tristar Hotel Group can deliver everything that you require.
What Tristar can provide your Hotel:
- Gaining information by building a market survey.
- Developing and maintaining the correct mix of business.
- Ensuring that the property is positioned well within its competitive set.
- Providing comprehensive sales training from the Sales Department to the Front Desk to increase transient, corporate, group and catering sales, as well as ensure delivery of a unified, consistent sales effort.
- Creating an Action Plan - mapping out the future of the Hotel.
- Conducting organized and targeted Sales Blitzes.
- Creating effective sales collateral.
- Teaching your competition to sell your hotel.
- Determining how to take business away from other hotels in your competitive set.
- Utilizing reports to gain information regarding rates and local business trends.
- Maximizing the Property's REVPAR by way of yield Management.
- Training Front Office staff in proper reservations techniques, up-selling rooms, and capturing walk-in business.
- Website optimization and maximizing the Alternate Distribution Systems.
- Use of dynamic software that shops the rates of your competitors for any range of dates in
the future - detailing the best available and discounted rates on their branded, GDS, and third party (Expedia, Travelocity) Internet sites. - A team of revenue managers analyzing your rates and those of your competitors to continually adjust to market fluctuation and demand to capture the greatest revenue possible.
- Assurance that all national Response for Proposals (RFP's) are filled-out at the local level, and that they are tracked to ensure completion.
- Analysis of denials and regrets to adjust rate and offerings.
- Management of group blocks at the Property.
- Serve as the liaison with the franchise.
- Handle all court-related issues.
- Be responsible for the creditor and Accounts Payable.
- Stabilize the staff and management.
- Reposition the Hotel in the market to drive increased business.
- HMOnline is 100% web-driven, allowing for access from any computer, any where in the world, and at any time.
- Detailed, position-specific training for 80+ positions available written by hotel operators working in today's hotel environment.
- Customized for each individual hotel, from a limited service property to a 1,000+ room resort.
- Interactive Resource Library with pre-loaded bank of 200+ departmental forms.
- Creates consistency in high-quality guest service across all positions and departments.
- Strengthens hotel loyalty and facilitates Manager Training Program.
- Reduces new-hire stress and turnover.
- Increases repeat business by creating well-trained, efficient hotel employees.
- Daily processing of monthly forecasts, market segment sheets, and deposit sheets.
- Management of Accounts Payable and Accounts Receivable.
- Monthly processing of declining budget.
- Maintenance and review of the General Ledger.
- Monthly Profit and Loss statements.
- Operating Statements.
- Distribution of accounts.
- Balance Sheets.
- Accruals.
- Budgets.
- Bank reconciliations.
- Consolidations.
- Monthly and Quarterly: sales and use compliance, property and payroll.
- Credit management; establish and maintain all necessary accounts relating to daily supplies of the Property.
- Tax research: written procedures reflecting current law provided.
- Credit card processing and reconciliation.
- Tax Savings: complete property tax appeals and audits.
- Daily cash deposits and reconciliation.
- Accounts Receivable.
- Bad debt analysis.
- Payroll checks and reports produced.
- Labor distribution.
- Journal Entries.
- Develop an electronic flow of information.
- Garnishments.
- Property management and Point of Sale systems.
- Integrate a seamless communication system from the property level to the client.
- Tristar offers a variety of detail options in monthly reports.
- Advanced accounting software used to generate a variety of reports from Balance Sheets to Profit and Loss statements.
- Custom reporting based entirely on a client's reporting needs.
- CPA produced financial reporting available monthly, quarterly and/or yearly.
- Catering - increasing sales, room rental, A/V equipment rental and sundry sales. Maximizing the benefit of your meeting facility.
- Standard Operating Procedures (S.O.P.) - strengthen your kitchen operation by improving food quality. Reduce inventory and food costs.
- A-la-carte and room service training.
- Maximize lounge revenues.
- Menu planning and merchandising.
- Unique in-house advertising.
- 12-month Food and Beverage marketing plan.
- New Construction of the Year (Carlson) - Radisson Fort McDowell Resort and Casino
- Renovation of the Year (Carlson) - Radisson Hotel Bloomington
- Renovation of the Year (Choice) - Comfort Inn Bloomington
- Seek and employ the architects, designers, and construction teams.
- Assist in the design of the building to optimize space, cost-effectiveness, and quality.
- Work with the city, county, and state authorities to meet all codes, etc.
- Oversee all construction and design staff to ensure proper execution.
- Order all soft-goods and supervise delivery and installation.
- Facilitate inspections with necessary authorities and franchisor.
- Ensure on-time opening and cost within budget.
Sales, Marketing, and Reservations
Tristar Hotel Group employs the tools and experience to drive and increase ongoing sales through the development of repeat business, as well as the cultivation of new business. Our main goal is simple: maximize revenue and occupancy penetration within the property's competitive set. We do so by executing the following:
We understand that an active and accountable sales effort is what produces increased sales, and we provide the necessary follow-up reporting and techniques to ensure such is the case. We also work to develop a strong relationship with the Convention and Visitors Bureau and Economic Development Office in your market. We have a vast store of knowledge regarding tour and travel in all markets, and this approach, combined with a direct sales effort, allows us to reposition the hotel in the competitive marketplace.
Well-versed in the latest techniques, strategies, and technology available, Tristar is able to provide top-of-the-line Revenue Management. When employing Tristar, your Hotel will benefit by:
Hotel Receivership Management and Asset Management
Tristar Hotel Group specializes in properties that are under receivership by banks or distressed and require asset management from an experienced and innovative hotel firm. We will:
Cutting-Edge Training and Resource Management
As part of our commitment to keeping pace with today's technology-driven world, Tristar has created a highly dynamic and effective online service that provides hotels with detailed training for every position, as well as a central hub for forms and resources for all departments. This service, HMOnline, delivers the tools to keep your personnel highly trained, your costs down, and your repeat business up.
Tristar can provide a full range of Accounting for a hotel, be it a new property that needs to be completely set-up or an existing property that simply needs P&L's produced periodically. Our team of highly-experienced hotel accountants are here for you.
In addition to the above, Tristar Hotel Group provides the following:
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Whether the profit center is room service, lounge, restaurant or catering, Tristar Hotel Group understands the key to successful operations is based in service. Our training program provides the staff with the tools to maximize departmental efficiency, while giving the guests both quality and satisfaction.
Renovations and New Construction
Tristar Hotel Group is highly skilled and experienced in both renovations and new constructions. Having planned, led, and executed all stages of the two for a multitude of properties, Tristar's expertise has been well documented. Tristar's recent projects have received a number of related awards, to include:
When employed in a renovation or new construction project, Tristar's team can undertake the entire effort or assist by way of consulting. Tristar can:
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