Boutique Resorts & Hotels
From city centres to inspiring getaways, KRG Hospitality assists clients in the development process for new or emerging hotel and resort projects by providing specialized knowledge of key markets.
KRG Hospitality’s highly experienced, professional team has earned an impeccable reputation and is recognized for its high level of credibility among boutique hotel operators, international resorts, private investors, financial institutions, and major real estate developers.
The primary solutions of market feasibility studies plus concept development plans and business plans provided by KRG Hospitality, are considered a gold standard in the industry and provide a reliable & thorough evaluation of the full potential of a proposed development project or real estate property acquisition.
Outside of the three initial plans, KRG Hospitality also provides operational assessments complete with an action plan plus brand development, marketing, and guest experience strategies in addition to our full suite of restaurant, bar, & lounge solutions.
This first phase, whether you’re just starting, looking to grow, or looking to re-brand, will develop or enhance 5 unique characteristics needed to survive in this cut-throat industry; Scalability, Sustainability, Profitability, Consistency, and Memorable Experiences.
A meeting that is completed in-person or through video chat, we will complete an in-depth discussion around your vision, budgets, financial goals, ideal location(s), and much more.
Project Feasibility Study
A hotel or resort feasibility study requires a thorough market analysis involving a study of the economic and demographic factors as well as a review of the hotel and resort market, including proposed guest experience strategies. The study by KRG Hospitality also provides a complete financial analysis, which looks at various revenue and expense channels, the section all investors will be looking to fully understand.
Major components of our studies include, but are not limited to the following:
- Complete Demographic & Tourism Analysis
- Complete Site Review & Space Analysis
- Proposed Development Recommendations & Costs Including Conceptual Visuals
- Full Market Analysis (Local, Regional, and International)
- Proposed Development Occupancy and Average Daily Rate (ADR)
- In-Depth Financial Feasibility Analysis
- Comparison of Value Created to Projected Costs
Concept Development & Testing
The scope of your project, the brand requirements, and the culture statement you need to adhere too, plus the initial breakdown of architectural design (including our architect & design partners). This will help shape the idea and ‘concept’ into a tangible form with character, heart, and soul; giving your desired property – a visual personality.
Strategic Business Plans
The action plan that elaborates on the feasibility study and concept development plan while delivering on overall operations, marketing, advertising, start-up milestones, and financial benchmarks. This document features further in-depth analysis, competitive landscapes, team development strategies, licensing & permits, industry reports, and numerous financial statements including – and much more.
Follow-Up Strategy Sessions
Between each plan we will review the current development (via phone or video chat) to ensure all parties are satisfied with the plans to date. When the business plan is complete, often the final plan, we will hold another session that will recap and review all studies & plans either in-person or via video chat while discussing the next steps for your project. At this time, all documents will be handed over to you – prepared not only for yourself; but for banks and investor groups.
Unique Identity Creation
We believe in the power of brand — to shift mindsets, create markets, inspire innovation, and unleash movements. Working with our in-house graphic / brand experts we will develop effective story-telling and value, vision, mission, & culture statements. From there, KRG Hospitality can then develop logos with a complete branding kit of fonts, color codes, and product placement samples to send to signage and print companies.
KRG Hospitality can also create your strategy around flyers, post cards, business cards, display posters, digital visuals, social media channels etc. as part of your start-up or rebrand marketing and brand activation plan.
Interior & Exterior Design Consultations
Working with interior & exterior designers – we will highlight design elements that will help tell the story, inspire innovation, and unleash movements in terms of color choices, material choices, room setup, landscapes, pool layouts, food & beverage placement, entertainment placement, and so much more.
Website & Online Development
KRG Hospitality will creatively register, setup, and design a responsive and mobile friendly website that coincides with your guest registration software and other online booking sites, plus photos, video, maps, food & beverage, entertainment pages, and strategically written content for SEO purposes and website analytics. Our team will also setup your social media channels, search engine pages, online booking agents, and train you on how to effectively use and update these channels.
In-Depth Marketing Plans
In-depth development of budgets, strategies, competitors, and campaigns with your target market segment in mind – for the first twelve months of operations, including media launch strategy of your property to the public. This marketing plan will also highlight effective strategies to drive awareness, an increase in revenue-per-customer, and repeat business opportunities.
Brand Activation Strategies
The art of driving consumer action through brand interaction & guest experiences. In simple terms, the key aim of these campaigns is to get your guests to ‘act’ and have a memorable experience within your brands property. KRG Hospitality will develop these strategies in terms of brand messaging, experiential marketing, and overall property marketing and will train your team on how to properly execute the most memorable guest experience strategies possible.
HR System Development
The team at KRG Hospitality will develop a detailed staff organization plan with all noted positions, job scopes, and pay scales in addition to setting up templates for job offer sheets, application forms, tax forms, staff performance reviews and policies such as sexual harassment, uniforms and much more.
Our team will lead the on-boarding of your management team (general manager, kitchen manager, bar manager, guest experience manager, maintenance manager, housekeeping manager etc.) and then coach them on and oversee the hiring for the remainder of your team.
Standard Operating Procedures
The team at KRG Hospitality will assist in creating templates for front desk duties, housekeeping duties, kitchen setup, bar setup, outdoor entertainment, indoor events, health & safety training sheets, financial tracking control sheets, staff manuals, and day-to-day standard operating procedures for each department.
Training & Personal Development Systems
Our team will design your complete ‘training program’ for each department and personnel. From there – we will work with your hired management team for at least 3-4 weeks, preparing them for the soft opening & launch day.
Boutique hotels & resorts need the right vision and the right trusted advisor (or coach) to point out their potential opportunities. KRG Hospitality’s ‘THRIVE-On Demand’ coaching program teaches an operator to harness sustainable results in leadership, marketing, staffing retention (culture management), guest experience management, sales (profit) management, and so much more.
Our unique program will guide you through the basis of consistent coaching and mentoring to achieve desired results leading to the foundations of accountability.
With a team of Executively trained coaches, THRIVE-ON Demand offers personalized coaching and customized analysis accompanied with SMART accountability goals – delivered each and every month. This is NOT cookie cutter content sent to you each month! This is customized content, real person-to-person live or the phone/video chats, and on-demand advice for you and your brand.
Starting with an on-site 5 day assessment; your dedicated hotel & resort consultant will review your day-to-day practices, guest experience strategies, sales mix analysis, marketing plans, labor analysis, financials, and more to determine the correct course of action.
In fact, there are over 150 ‘touch-points’ your dedicated consultant will review and analyze within your property.
From there, your KRG Hospitality consultant will develop a 12 month strategy plan, coaching plan, and dashboard consisting of SMART benchmarks that will drive both short-term and long-term success!
Within a total of 14 days – your action plan will be ready!
From bars to pubs, lounges, nightclubs, & micro-brewery concepts, KRG Hospitality is available from idea stage to grand opening and beyond