If you are planning to sell hotel, or if you recently bought it, but fell on the black side of failures, don't despair because there are options to fix it.
Contact us, give us chance to assess potential of the hotel and let us find the path to success.
1. The Initial Steps:
1.1. A cooperation Agreement we sign with the owner of the hotel, or with the legal owner's representative. According to this Agreement, the customer instructs Bulgre, EOOD to develop and implement a hotel business plan during periods of falling demand for basic services. From the owner's side the contract prescribes a maximum cost budget, which should not be exceeded, and a fee from the agency's side.
Based on the Agreement, the customer transfers an advance payment of 25% of the amount of a fee to the agency’s account. We emphasize - from amount a fee, not from a budget.
1.1.1. The maximum cost budget is determined by the customer, but cannot be less than the real cost of the organizing a business and the agency staff.
1.1.2. The agency’s fee includes rewards of employed specialists, current costs with tax deductions and makes up from 10 to maximum 20% of the common budget amount.
1.2 After signing the Agreement and receiving the advance payment, the agency instructs preparation of an analytical report and proposals to one of top-managers. This step usually takes seven to ten days. The result is a specific plan of action within the budget specified by the owner. This business plan is approved by the hotel owner, becomes an annex to the Agreement and the basis for hiring specialized employees.
1.2.1. If the proposed plan is not approved by the customer, but the parties are ready to continue cooperation, the agency instructs the editing, or even new development of business plan by a council of four to five specialists in accordance with the customer's goals and preferences.
1.2.2. If the proposed plan is not approved by the customer again, and the parties are not ready to continue cooperation, the Agreement is terminated. Advance payment to the customer is not refundable in this case.
1.3. If the proposed plan is approved by the customer, the agency selects specialists and draws up final cost estimate. It usually takes seven to ten business days. We are proud that in our approach to business, the difference between the initial and final estimates is unessential. Next, the list of specialists and cost estimates are submitted to the owner for final approval and become annexes to the Agreement.
2. Business Plan Implementation:
2.1. A team of specialists works on the implementation of the plan approved by the customer until the first visible results appears. As a rule this period takes one to three months. Anyway the agency declares the plan fulfilled if there are obvious results and is confidence in the operability of the implemented project.
2.2. The completion is fixed by the act of service acceptance with the application of the financial report.
2.3. Based on the act and report, the customer transfers the final payment 75% of a fee to the agency’s account. This action is the final for Agreement.
3.1. Within one calendar year from the date of the Agreement's end Bulgre, EOOD undertakes to observe and advise the customer free of charge.