No single factor can be fully credited to hotel success, but it relies on one fundamental value – passion. We strive to infuse this value into each team member in every level of the organization by empowering properties to make day-to-day decisions; all with the comfort of long term support from us at corporate.
Our comprehensive services include the following:
Waterford Hotel Group’s philosophy in the day-today running of a hotel is simple: “hands-on hospitality”. This hospitality management style is rooted in property-level empowerment, aided by tireless support from our corporate office. Both corporate and hotel staff develop an intimate knowledge of each property, the local community it serves, and the individual needs of hotel clientele and staff.
At Waterford, a system-wide commitment to communication is crucial to our success. Frequent property visits, ongoing communication, and statistical reporting on a daily and weekly basis help to make our company a cohesive whole. We extend this commitment to Waterford property owners and investors by inviting and encouraging communication with corporate staff, monthly financial reporting, and holding quarterly and annual meetings. Equally as important, all staff members continually attend industry conferences and seminars, to keep on top of the pulse of hospitality trends and developments.
Waterford Hotel Group’s operational support to each property goes well beyond the day-to-day concerns, with a strong focus on areas such as:
Waterford Hotel Group understands that associates who perform their duties effectively and communicate well with guests and co-workers are the most valuable assets a hotel can have. The company’s training program works to instill a positive attitude at all levels. Waterford understands that diversity is the key to success in modern business, and we celebrate the many unique skills and perceptions offered by every member of the staff.
Our properties are supported by a team of HR managers, providing an open line of communication for our general managers and their hotel teams. Additionally, our larger hotels are staffed by an in-house human resources department.
Under Waterford Hotel Group’s direction, each property works closely with local and state agencies to ensure that mandates and compliance standards are met. Waterford’s comprehensive human resources department assists each hotel in developing a motivated and productive staff through:
Waterford provides financial support to our hotels through a variety of accounting and finance functions, including centralized accounting. Centralized systems provide us with the real-time data and tools we need to analyze operations and share the results with managers. Financial information flows into our corporate control center on a daily basis, greatly eliminating excess paperwork and duplication of effort.
Additionally, our larger hotels are staffed by an inhouse accounting department, where all accounting functions remain at the property level with oversight by regional staff members. These regional staff members review and analyze monthly financial reports, provide financial analysis, and support the property’s accounting staff with training and best practices.
With the power of current information at the fingertips of our executives, combined with our strong collective background in financing, refinancing, hotel construction, and day-to-day accounting, Waterford can apply sound fiscal management to leverage resources and raise funds, cut costs, grow returns, and act opportunistically during favorable market changes. Waterford financial services include:
To outperform all other hotels in a given marketplace, it takes a top-down approach to product positioning and smart marketing. Comprehensive planning and training, a strong outside sales force, and Waterford’s “property by property” approach to operating philosophy and market niche allow us to drive returns for our investors.
Extensive market research is conducted to accurately position a property within its market and community. Communication is ongoing with area chambers of commerce, tourism development groups, and potential corporate clients to determine the needs of a location. The sales and marketing department accomplishes top performance for every hotel by developing and adhering to a specific marketing plan utilized by all departments throughout the year. The marketing plan is designed to allow complete analysis of each property’s market position before revenues are projected.
Each property submits weekly and monthly reports to the corporate office for review, communicating key information to aid in corporate sales efforts. Associates are proactive in assisting each property’s management in order to reach sales goals and maintain an edge above competitors through:
Waterford Hotel Group has embraced technology as a major edge in the highly competitive modern hotel industry. We continually work to ensure that technology is used to our advantage as a means of communication amongst our properties. Most importantly, technology allows us to better support our general managers, freeing them up to focus on the needs of guests and associates.
Waterford’s IT department leverages current technology to allow for more efficient collaboration between our properties and the corporate office. Our wide area network and intranet give each manager real-time access to the same data and forms as their support teams at Waterford. As a result, our managers have the information they need to be proactive in their decision making.
Our IT staff provides 24×7 support to the properties to make sure they have access to those resources. In addition, we constantly evaluate new technologies to make every process more efficient, therefore giving the properties more time to interact with each guest. This centralized effort allows for better efficiencies in all areas, including:
Waterford Hotel Group offers project management, value-engineering, architectural and plan review expertise, and draws from vast experience in a number of successfully executed hotel developments and renovations. Waterford delivers projects on time, within budget, and most importantly, according to client specification. This process is facilitated by our purchasing directly from the manufacturer at or below wholesale prices, and through timely and accurate cost estimations, budgeting and reporting.
Waterford works closely with hotel ownership in determining appropriation of revenues to be set aside for capital expenditures. All parties involved share the same goal of maximizing revenues and return on investment, and subsequently our goal is always to make the best use of capital monies. Capital reserve requirements vary greatly depending on the property, but are always set at a mutually agreed upon level conclusive to the optimum achievement of revenue goals. Other variables, such as life safety and ever changing franchise requirements, are continually reviewed.
Each detail, from initial product design through purchasing, receiving, construction supervision, and installation, is professionally managed by Waterford, including:
Our attention to detail extends to a number of award-winning restaurants, lounges and bars, cafes and nearly 700,000 square feet of function space. For more information on our extensive food and beverage experience, we invite you to visit Waterford Group Restaurants.
In an effort to take advantage of the growing public facilities management market, Waterford formed Waterford Venue Services to manage large-scale public assembly facilities. We provide facility management expertise in many areas, such as:
