For most people, mentioning hotel assets makes them think about things like snacks, sheets, minibar drinks and bathrobes, but for someone who has worked in the hospitality industry, hotel assets encompass so much more than the simple items you will find in a hotel room. In fact, hotel assets that need tracking include the paintings you see hanging on the walls, each guest room and everything in it and everything used to create the hotel experience you love.
Imagine a typical hotel set up and what you are likely to find there. Imagine everything that was done behind the scenes to make available that continental breakfast you enjoyed that morning or all the equipment you saw at the gym in the hotel. All these are assets the hotel must keep track of at any one time to make sure everything is working properly for the best experience for each of its customers. Other restaurants have things like spas, pools and business center, all which must be accounted for continuously if the establishment is to keep running smoothly.
This begs the question: what would happen if a hotel failed to proactively monitor its assets? What happens when the inventory is dated and no one seems to know what is and is not available for the hotel guests? If the hotel management fails to conduct routine audits of every asset in the hotel, it is not unthinkable to find the hotel out of towels, using worn-out sheets, etc. According to TrackAbout, constant asset tracking allows the management to know what items they have, the number of items that have been stolen or gone missing and allocate resources to acquire new ones.
Ask any employee in a hotel or restaurant and they will tell you just how common these scenarios are in the hospitality industry. Therefore, tracking these assets is a necessary undertaking if the hotel or restaurant is to avoid unnecessary loss of sales. Keeping track of these assets also ensures that everything in use within the hotel is in good condition as a way of maintaining high standards that can attract new customers and retain the old ones.
Consumer satisfaction is a big growth driver in the hotel business. Accordingly, the leadership of any given hotel must do everything necessary to maintain the highest possible level of customer service and professionalism. While it is not easy to track hotel assets, succeeding in doing so is often the difference between the hotels that make profits and those that exist in unending vicious cycles.
The truth is that hotels that manage to manage and track their assets are often at a better chance at achieving stability, making corrections and recording better sales than those disinterested in doing so. In the long term, asset tracking can contribute significantly to growing profits.
