We employ a series of financial management and reporting tools that allows us to track all income and expense categories of every property. We meticulously review the income statements every month and report out all variances and how we will correct them. We use the power of the M3 accounting system, which we’ve found to be the most efficient way to monitor and manage all aspects of financial operations, including payables, receivables, margins, and cash flow.
SALES & MARKETING
We have experience in marketing across a range of media, including search engine optimization and pay-per-click campaign management, using a suite of tools to precisely track ROI for every marketing dollar spent. We also employ extensive tools designed to maximize revenue per booking. To ensure marketing plans translate into sales, we’ve developed a system that gives on-site sales teams the freedom to proactively pursue leads and book business. By sending them out into the field, we extend reach and expand your property’s revenue base.
Exceeding guest expectations is integral to what we do. To help maximize repeat business and profitability, we constantly survey and evaluate guest satisfaction results at each property, and continually create action plans to ensure we are doing everything possible to provide an experience guests want to enjoy again and again.
At Terrapin Hotel Management, we firmly believe that people are at the foundation of any enterprise’s success, so we place a significant emphasis on recruiting and retaining the best we can find — from top-line managers to those who interact with guests on a daily basis. More importantly, we empower the teams who are running each property to do all of the things that they do best, allowing them to operate autonomously, exercise their best judgment, and do what they feel is necessary to ensure the property operates at maximum profitability.
As long-time property owners ourselves, we’ve managed a number of large and small-scale construction projects. Because of this, we understand the importance of maintaining strict controls over budget and timeline while always adhering to brand standards.