Hotel Management
01. Operations
Millennium Hospitality Management Group provides a hands-on management style that is best exemplified through the active involvement of our Executive Team members. Every property is intensely managed and receives continuous involvement from each member. This includes ongoing operational reviews conducted with the property management staff using industry benchmarks and hospitality brand standards as our guides.
Millennium’s daily hotel operational expertise centers on providing high quality guest experiences tailored to their emotional needs. It is our ongoing goal to drive ambitious standards of service and offer guests at our hotel’s superior quality and value. Millennium Hospitality Group’s hands-on style of management and support team allows your hotel property staff to be highly efficient and productive. Our operational services include, but are not limited to:
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Turnkey Project Management
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Preventative Maintenance Programs
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Guest and Associate Safety Programs
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Franchise Compliance Security
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Proven Housekeeping Systems
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Property and Franchise Training
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Property Inspections
02. Strategic Revenue Management
A key strategic priority at Millennium Hospitality is driving the highest profitable revenue, resulting in continuous market share growth across our portfolio. Our Revenue Management team has an innovative and detailed approach to attaining results that includes dynamic pricing, yield management and strategic relationships with OTA market managers to differentiate our assets in each market. Working in concert with our sales and marketing focus, our Revenue Management team leverages the strength of our brands along with our in-house optimization tools, which allow for in-depth winning strategies across our brands.
03. Focused Ecommerce
A key strategic priority at Millennium Hospitality is driving the highest profitable revenue, resulting in continuous market share growth across our portfolio. Our Revenue Management team has an innovative and detailed approach to attaining results that includes dynamic pricing, yield management and strategic relationships with OTA market managers to differentiate our assets in each market. Working in concert with our sales and marketing focus, our Revenue Management team leverages the strength of our brands along with our in-house optimization tools, which allow for in-depth winning strategies across our brands.
04. Sales and Marketing
Our sales team is passionate, focused, and accountable, leading to the highest level of productivity and meaningful results. Our approach is entrepreneurial; we are constantly looking for ways to improve and better our performance.
It begins with our experienced leadership and the hotel sales teams charting a sales and marketing plan to maximize profits and to hold our team accountable. Our best-in-business sales and marketing teams have the proven ability to translate data into strategic initiatives that maximize revenue from the most cost-effective segments and channels.
Our sales teams are highly motivated and incentivized on their individual and overall team productivity. Senior management is engaged and supportive, assuring that goals and objectives are reached because, ultimately, success is based on performance and execution.
Our experienced sales professionals utilize cutting-edge technologies and e-commerce tools as key resources to increase productivity. As experts within the brands we serve, we excel in developing and maintaining positive brand relationships to maximize income opportunities in global sales, distribution, and marketing. Detailed marketing plans and regular reviews help reinforce strategic goals, and an emphasis on resource allocation and high accountability ensures that all marketing expenses are precisely targeted.
05. Accounting
We utilize state-of-the-art tools and resources, along with high end hospitality accounting software systems to control expenses and drive bottom line profit margins for all investors and owners.
Our full-service accounting platform provides complete payroll, accounts payable, cash flow management, financial statements, and other accounting services. Our forecast system eliminates surprises and provides you with a clear picture of your hotel’s financial history and expected cash flow, enabling you to plan and act with confidence. It is the right data conveyed in a timely, accurate and meaningful way. Other key areas that we focus on:
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Daily/weekly revenue and labor forecasting and reporting
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Centralized accounts payable processing and cash management
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General ledger
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Monthly financial statement preparation and review
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Account reconciliations
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Sales and occupancy tax filings
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Property tax payments
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Annual budgeting
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Monthly hotel operations forecasting
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Cash flow forecasting
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Construction accounting services
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Support and consulting on financing and refinancing
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Audit support on fee-for-service basis
Key Attributes
Owner Centric
We know what owners want and need, and we exceed those expectations by delivering top of the line results through our Accounting, IT, Operations, Sales, and Marketing disciplines. We ensure each day that our owners and their assets are achieving the highest quality, guest-focused experiential service and ultimately, and most importantly, strong returns.
Balanced Scorecards
Millennium strives to give all our team members the tools and resources to be successful, take ownership in the hotel and drive the KPI’s through our Balanced Scorecard. The scorecards encompass several key areas that impact the hotel in various ways, some of which are outlined below:
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Guest Experience scores measured against competition and brands
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Performance Metrics/KPI’s such as POR, PAR, GOPAR, STR
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Labor cost controls based on KPI’s such as MPR, POR, PAR, % Revenue
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Budgeting that Flex’s with the hotel’s daily, monthly, and annual production
These key areas of focus not only keep our hotels at the top of their respective brands, but also is key in the development of our team members, profitability for our owners and high levels of satisfaction for our guests.
Associate Growth and Development
Human asset recruiting, training and development is one of our greatest strengths. We show our valuable associates respect, by referring to them as players, teammates, or key associates, not employees. We empower our players to let them make their best decisions given their guidelines and benchmarks. We motivate them by working with them instead of making them feel like management is above them or they work for us.
Our leadership culture provides support to the field by training and developing our team members and fostering professional growth. We believe deeply that our associates are our most valuable resource. We focus on a genuine, engaging, collaborative and performance-based culture that translates into long term stability, internal promotions, and a high level of satisfaction amongst all our team members.