Asset management in Dubai

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The importance of a hotel’s FF&E Reserve revealed

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The importance of a hotel’s FF&E Reserve revealed

Source: http://www.tfgassetmanagement.com/news/hospitality/the-importance-of-a-hotel’s-ffe-reserve-revealed.aspx

The Furniture, Fittings and Equipment Reserve that is also known as a replacement reserve and shaped from a percentage of hotel revenues refers to funds set aside for the periodic replacement of building components that wear out more rapidly than the building itself. This reserve fund allows to better understand the needs of a hotel and ensure the property has sufficient liquidity if unexpected replacement costs arise, or a larger sum is required for property maintenance. Underestimating the importance of this reserve fund leads to the deterioration of hotel facilities and standards and forces hotel owners to reinvest into hotels heavily. That’s why TFG asset management team strongly encourages all hotel owners to create a detailed FF&E reserve adequate for the lifespan of the asset already in the early hotel development stages.

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How asset managers can help mitigate the impact of wholesalers’ new ‘bad’ pricing practices

Source: http://www.tfgassetmanagement.com/news/hospitality/how-asset-managers-can-help-mitigate-the-impact-of-wholesalers’-new-‘bad’-pricing-practices.aspx

Wholesalers are one of the highest producing distribution channels for hotels. They buy hotel rooms in volume and get more favourable prices for that. In the past, wholesalers’ rates were sold to B2B partners only, such as tour operators and travel agents. Nowadays wholesalers’ rates are sold to the end customers as well. The reasons for that are the emergence of Online Travel Agencies and the rise of meta-search channels acting as a one-stop price comparison platform for consumers. As a result, OTAs started controlling the rates and made hotels dependent on the published prices.     According to TFG asset management, in order to limit the impact of wholesalers’ bad pricing practices, hotels should carefully choose wholesale partners, constantly monitor published rates and limit wholesale bookings, where possible.

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First Central Hotel Suites recognised for CSR and sustainability excellence at inaugural industry awards

First Central Hotel Suites recognised for CSR and sustainability excellence at inaugural industry award

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First Central Hotel Suites recognised for CSR and sustainability excellence at inaugural industry awards

Source: http://www.tfgassetmanagement.com/news/our-portfolio-updates/first-central-hotel-suites-recognised-for-csr-and-sustainability-excellence-at-inaugural-industry-awards.aspx

First Central Hotel Suites continues to cement its position as a leading four-star hotel in Dubai. This year the property has won 2 prestigious awards at the MECHFA. The hotel’s team received the Gold award in the “Commitment to Sustainability” category and the Silver award in the “CSR Company of the Year” category. According to Wael El Behi, the property’s General Manager, environmental protection and conservation of natural resources is an integral part of the hotel’s team efforts to support Dubai in being a smart, integrated, connected and sustainable city with a clean, healthy and sustainable environment. The MECHFA accolades are testament to their efforts. To recap, MECHFA is a famous Middle East Cleaning, Hygiene and Facilities Awards that is created to recognize different companies for the best environmental practices. This year the ceremony has brought together over 300 top industry professionals.

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First Central Hotel Suites to roll out new innovative guest facilities

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First Central Hotel Suites to roll out new innovative guest facilities

Source: http://www.tfgassetmanagement.com/news/our-portfolio-updates/first-central-hotel-suites-to-roll-out-new-innovative-guest-facilities.aspx

First Central Hotel Suites that is well-known for its excellent customer service offers new incredible restaurant and meeting facilities to their guests. The first one is Beastro. It is a new F&B concept that will be located in the restaurant’s lobby and focuses on promoting guest interaction and relationships. The second one is called Business Hub. It is a new innovative venue that features many conference & meeting facilities such as two meeting rooms, a training and seminar space, a reception area and a business centre desk. They will cater to the needs of in-house corporate guests, as well as local businesses. According to TFGAM, the combination of excellent service and the development of new targeted facilities will drive a better top-line performance.

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Qualities and responsibilities of an excellent hotel manager

Source: http://www.tfgassetmanagement.com/news.aspx

The key element of each profitable company is a professional and effective management team. They determine the general state of the organization and impact on the effectiveness of other people’s work. The hospitality sector is no exception.

To run the day-to-day operations of a hotel effectively, a hotel manager should possess the following basic skills and qualities: - Excellent administrative and interpersonal skills; - Extensive knowledge of the hotel industry; - Strong time management skills; - Ability to work under stress; - Financial skills; - High level of initiative; - Energy and enthusiasm to work.

In fact, a hotel manager should be a person of many talents and have knowledge in different spheres in order to keep up with his or her responsibilities. The main of them are: - Managing budgets; - Customer service; - Human resource management; - Coordinating departmental tasks; - Supervising maintenance.

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Qualities and responsibilities of an excellent hotel manager

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TRYP by Wyndham’s BarBary Receives Multiple Nominations for Prestigious Industry Accolades

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Why the Hotel Industry Should Take Social Media Seriously

Source: http://www.tfgassetmanagement.com/news/hospitality/why-the-hotel-industry-should-take-social-media-seriously.aspx

Nowadays most hotels around the globe have a social media presence and use different social media channels to improve their business. The main goals of social media in hospitality industry are building brand awareness, increasing sales, interacting with customers and gaining competitive advantages.

The results of social media marketing campaign should be measured depending on the objectives. TFG Asset Management regularly improves their social media marketing strategies and uses different metrics to measure campaign’s efficiency. The company tracks engagement through likes, shares, comments, brand mentions and profile visits whereas the revenue metrics are measured by the returns from each investment in social media channels.    

However, there are also some difficulties when measuring the effectiveness of each social media channel. The main of them are measuring ROI, developing the right social media strategies and assessing the effectiveness of SMM activities.

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Why the Hotel Industry Should Take Social Media Seriously

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First Central Hotel Achieves Certificate of Excellence from TripAdvisor

Source: http://www.tfgassetmanagement.com/news/our-portfolio-updates/first-central-hotel-achieves-certificate-of-excellence-from-tripadvisor.aspx

First Central Hotel is one of Dubai’s biggest hotel apartments that offers its guests high standards of service. As proof of that, the hotel has been awarded with the Certificate of Excellence from TripAdvisor.

To recap, TripAdvisor is the world’s largest website for travellers that contains different feedbacks from hotel guests and gives the awards to the best of the best businesses. Their Certificate of Excellence is a proof of great staff performance and awarded to businesses with exceptionally great reviews.  

TFG Asset Management is proud that company’s very first hotel continues to set such high standards and is recognised for its commitment guest satisfaction.

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First Central Hotel Achieves Certificate of Excellence from TripAdvisor

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Dubai Hospitality Market 2017 Review

Source: http://www.tfgassetmanagement.com/news/hospitality/dubai-hospitality-market-2017-review.aspx

Dubai is one of the world’s largest hospitality markets. The city has the world’s second-largest inventory of five-star hotels, with 61 properties in the category. Besides that, according to the latest Global Construction Pipeline report, Dubai is home to the world’s third-largest hotel pipeline behind New York and Houston. Dubai currently has 145 projects and more than 40 000 rooms under construction.

TFG Asset Management is pleased to share our review of Dubai’s market performance in 2017.  

Despite demand growth, occupancy rates have risen marginally (+1%). With the expansion of Dubai’s hotel room inventory over the last two years, competition among hotel operators has risen sharply. First, it’s led to many discounting rates to capture occupancies. Secondly, total ADR has fallen by 13.8%. The strongest drop in ADR was registered in Bur Dubai (-40%) and Downtown Dubai (-25%) while The Palm and Airport hotels have shown increases in ADR.

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Dubai Hospitality Market 2017 Review

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Iconic Metro Central Hotel Apartments to be rebranded as a Citadines Apart’ Hotel

Source: http://www.tfgassetmanagement.com/news/our-portfolio-updates/iconic-metro-central-hotel-apartments-to-be-rebranded-as-a-citadines-apart’-hotel.aspx

TFG Asset Management is pleased to announce that Metro Central Hotel Apartments will be rebranded as a Citadines Apart’ Hotel by the end of June 2018. As one of the world’s most-respected hotel-apartment brands, Citadines will play a major role in shaping Metro Central’s future success. The Citadines brand is managed by The Ascott Limited, a serviced residence operator that is present in over 90 cities and manages more than 250 properties across the world. The Ascott Limited is in its turn a subsidiary of CapitaLand, one of Asia’s largest real estate companies based in Singapore. One of CapitaLand’s real estate investment trusts, “Ascott Residence Trust”, operates a portfolio of 73 properties that consists of all the brands under The Ascot Limited portfolio.