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Managers who can optimize hotel operations while maintaining high service standards are prized in hospitality. Cost control in the hotel industry is an ongoing challenge; hotel expense management and labor cost control measures are two ways to increase hotel profitability.
But the opportunities don’t end there. Hospitality industry cost-savings abound in hardware products and maintenance expenses — if you know where to look. Discover what managers do to cut costs in hotels without sacrificing the customer experience.
Maintenance and Repair Optimization
A stitch in time saves nine. Routine equipment inspections are a low-cost way to identify potential issues before they escalate. When hotel managers implement preventive maintenance schedules for crucial hardware components, they can expect to lower their overall repair expenses.
Invest in Strategic Equipment Purchases
In most cost-benefit analyses, high-quality, durable hardware outperforms the rest, eliminating all the costs associated with frequent replacements. Bulk purchasing and negotiation can yield better pricing from suppliers, adding revenue to the bottom line. You can further add revenue by regularly reviewing contracts with hardware vendors to ensure you’re getting the most competitive pricing, especially on larger orders.
Implement Energy-Efficient Solutions
You can score an easy win by replacing outdated and energy-intensive equipment with energy-efficient alternatives. Smart technologies like thermostats and lighting controls should be implemented throughout the property to optimize energy usage. Explore the ROI on different solutions to find short- and long-term gains.
Upgrade Inventory Management
If you’re still tracking inventory on a spreadsheet, it’s time to upgrade to a more robust tool that can keep a detailed inventory of your hardware products to prevent over-ordering or understocking. Today’s systems can send alerts based on tracked usage patterns to optimize inventory levels continuously.
Training To Troubleshoot, Encouraging Feedback
One overlooked aspect of hardware product management is human capital. When you train your staff to handle basic maintenance tasks and troubleshoot common issues, you’re helping to optimize your entire hotel, improve the customer experience, and foster a culture of employee responsibility. Encourage employee feedback to uncover even more cost-saving ideas, discover hardware issues, or bring maintenance challenges to light.
Utilizing Warranties
Opting in and tracking extended warranties may seem like a hassle, but a little organization can go a long way when it comes time for repairs or replacements.
Outsourcing and Collaboration
Having an in-house team for general maintenance is a necessity, but what about the more complex problems? You may find it more cost-effective to outsource non-core maintenance services to specialized contractors. Additionally, explore local business partnerships where you can negotiate for discounted maintenance services. You may even want to collaborate with neighboring hotels for bulk discounts on shared maintenance resources.
Benchmarking and Cost Analysis
How do your maintenance costs compare to the industry at large? Benchmark those costs to identify areas for improvement. When you conduct regular cost analyses, you can identify hidden opportunities for additional cost savings and gains in efficiency.
Archmaster Advantages
With Archmaster, you can take advantage of bulk-order pricing, order free samples, browse products by room, such as door bumpers or connecting door hardware, and enjoy concierge service like chatting online with an expert or simply sending in a photo of the product you need for ease of ordering.