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While you create unique experiences for your guests, managing daily operations is crucial to ensure smooth functioning and profitability. Below are the key tips for efficiently managing your resort property using modern management systems.
CoralTree’s parent company, Lowe, launched its hospitality management business in 1973 to provide residential resortmanagement services. In late 2023, we substantially grew our portfolio of vacation rentals and are excited to further expand, operationalize and brand this collection to highlight our expertise in this area.”
Lowe’s hospitality management subsidiary, CoralTree Hospitality Group , will assume management of the rental units, HOAs and resort properties included in the transaction. The management business will be rebranded by Lowe and CoralTree.
Mark-up on supplies and services Hotel management companies often generate additional revenue through mark-ups on supplies and services provided to the properties they manage. They use their purchasing power to buy goods and services in bulk at lower costs, then charge the hotel a marked-up price for smaller quantities.
Known as hotel property management systems or hotel PMS , this software enables hotel management to use digital platforms to streamline operations such as bookings, guest check-ins and housekeeping coordination, while enhancing guest experiences. What is a hotel property management system (PMS)?
There are lots of career paths you can consider in the hospitality industry, especially once you have completed professional qualifications such as a hotel management degree. These are specialist roles, each overseeing managers within their departments. We’ll look in more detail at some of these later in the article.
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