Centralized accounting services for our hotels resulting in lower administrative payroll costs to the hotel and more accurate, informative and timely financial information. The central accounting office closely monitors daily accounting reports, supervises payroll processing, prepares monthly bank reconciliations, files sales and use tax returns, processes accounts payables, and manages hotel cash.
Reports Both monthly and quarterly reports are prepared for ownership. These reports include an analysis of present, past and projected performance. The monthly financial statements include balance sheets, cash flow statements and income statements.
Our centralized accounting structure is integral to effective cost control and to increasing your bottom-line. Our in-house team of accountants provides annual business plans, cash flow projections and operating forecasts, and ongoing financial reports to measure performance. We oversee all cash management, financial statements and supporting documents including general ledger accounting and accounts payable. In addition, we file all tax reports.
Our commitment to technology and our Intranet site means efficient communication between central accounting and the property. This combination of planning, data creation and analysis enables owners to make timely and well-informed investment decisions.
A quarterly report is prepared to show and explain deviations in the income statement from the budget, personnel changes, market conditions, sales updates and capital improvement expenditures.
Well-trained, highly motivated associates are what make an organization great. Ascent Hospitality’s Human Resources Department makes sure that we have a winning team.
For new and seasoned associates alike, the training never stops. Our programs are modeled to create loyalty and minimize turnover. Initiatives include everything from management training, team building projects, and lessons in how to foster better communication.
Business Plan: The strategic business plan created by Ascent Hospitality for each hotel is the property’s blueprint for success. This carefully thought out plan includes a realistic operating budget, a capital improvement budget, and a sales and marketing plan. All budgets and plans are consistent with current franchise and local market requirements; they must be approved by ownership before implementation.
Operations: Ascent Hospitality sets and carefully monitors meaningful cost controls. Rates are structured, checked daily through our guest tracking report, and changed as market conditions warrant. Rate maximization via yield management is an integral part of the operations strategy. Payroll is analyzed daily, energy costs controlled, preventive maintenance programs are established, and an extensive Policy and Procedures Manual is utilized by property management.
Personnel: The key to our properties success is our management team and our outstanding General Managers. Ascent Hospitality has taken pride in being able to find and keep the most competent managers for a given hotel property. The knowledge and experience of our managers, coupled with a shared vision and well-executed business plan has consistently produced above market results. This has also contributed to the longevity of our associates, both at the corporate office and at our properties.
Renovations and Purchasing: The company has developed close relationships with many suppliers and manufacturers. Due to economies of scale, purchasing power is realized. While saving ownership unnecessary expenditures, quality renovations are achieved.
We are seeking development opportunities.
Ascent Hospitality places special emphasis on a strong and effective Sales and Marketing Department. Sales works strongly on two levels: locally and nationally. Our marketing and sales strategies are people-oriented, measurable and effective. Our team, with years of hands-on experience, is uniquely qualified to reach our sales goals.
First, a comprehensive sales and marketing plan, the core of our strategy, is developed. It includes an evaluation of market competition, property strengths and weaknesses. Next, our corporate directors of sales and marketing work with each property’s sales managers to evaluate opportunities and develop targeted strategies and action plans to maximize contribution for each market segment. Our commitment to sales and marketing is bolstered by comprehensive sales training programs for all associates, as we believe that every hotel employee truly needs to understand how to generate revenue and grow the business. In order to further promote sales and marketing, major national conventions such as HSMAI, NTA and ABA are attended regularly.
The Sales and Marketing Department works closely with an in-house graphic artist to provide cost effective, full-service graphic design. The department handles all advertising including direct mail, print media, radio, television and billboards.