Why NWH
What does NWH any Do?
New World Hospitality operate hotels, managing the process on behalf of the owner. The company shares profits with the owner. Typically, the owner buys or builds the hotel property and then turns it over to the hotel management company like NWH.
Responsibilities
The management company assumes all operational responsibilities, including:
- Running all departments, like maintenance, housekeeping and the front desk.
- Recruiting, training, managing and terminating employees.
- Paying employees, vendors and suppliers.
- Managing revenues. This includes raising or maintaining revenues per available room (RevPAR).
- Managing operational and capital expenses. Operational expenses include orders to vendors and suppliers. Capital expenses include the purchase of furniture and fixtures.
- Reporting financial information & Developing and following budgets.
- Compliance with laws, regulations, customs, and if appropriate, brand standards.
- Delivering excellent guest experiences and instilling customer loyalty.
Contract Term
Moreover, the duration of a hotel management contract depends on the nature of the hotel. A non-brand property might contract for a 3-year to a 10-year term. Whereas, a branded property might have a contract that extends to 30 years. Clearly, the longer-term management contracts with branded hotels stem from the high success rate these hotels experience. Obviously, an independent hotel is a riskier proposition. Therefore, owners will want more flexibility when selecting the best hotel management companies for their purposes.