Hospitality Management

REVENUE MANAGEMENT

At TPG Hotels, Resorts & Marinas, Revenue Management plays a key role in driving profitability and growing market share. Our revenue management process is based upon sophisticated research, detailed analysis and a proactive approach to changing market conditions. Our robust corporate revenue management structure consists of a Business Intelligence Team, Regional Directors of Revenue Management, and task force support. Our Revenue Management experts provide guidance and strategic direction to each hotel team to guarantee each asset is producing at its maximum potential.

TPG’s innovative Revenue Management Intelligence Platform presents critical information, streamed in real-time, within a comprehensive dashboard accessed by key decision makers throughout the entire organization from property-level personnel and regional teams to senior corporate executives and support staff.

TPG’s Revenue Management Intelligence platform becomes “Command Central” and the foundation from which the entire organization will set strategy, forecast, analyze data, measure, and report out results. Fully-scalable to accommodate any size hotel or multiple asset portfolio, our proprietary platform incorporates automated feeds that consolidate brand and external market intelligence into an intuitive, easy to use dashboard. With actualized results, market intelligence, and active, forward-looking performance modeling, TPG’s platform enables users to immediately react to even the slightest market chances to ensure revenue opportunities are maximized.

It is through effective execution of real-time strategies that TPG has established a 40-year proven track record earning the Company preferred status with the major brand families including Hilton, Hyatt, InterContinental, Marriott and Starwood. Within our performance-based culture, we blend the most advanced technologies with the best revenue management professionals in the business. We are committed at every level to driving top line revenues, gaining market share, and developing best-in-class revenue management talent.

SALES AND MARKETING

TPG Hotels, Resorts & Marina's approach to Sales and Marketing begins at the Senior levels of the organization. With strong support and oversight by the regional teams, we deploy decades of experience and specialized brand acumen to maximize sales opportunities and drive revenue. TPG Hotels and Resorts is a pre-approved operator of all the major global hotel brands including Marriott, Hilton, Hyatt, IHG, Starwood, Wyndham, and others.

Our regional teams work closely with each hotel to develop, implement and monitor hotel-specific and regional action plans which include direct sales, marketing initiatives, all designed to leverage the strength of the brands. We have excellent success in targeting specific opportunities for revenue growth and index penetration by identifying these demand times early and by focusing both local and regional resources against them through a combination of daily communication and monthly visits to the hotels. Progress is monitored through traditional matrices while remaining agile in our execution to ensure full advantage of every opportunity is exploited.

Through our senior sales leadership, TPG enjoys an excellent relationship with all major third party planners located throughout the United States and leverages these relationships, as well as our geographic density to move business into our portfolio.

TPG’s progressive e-commerce initiatives are fine-tuned and generated through a proprietary owned database geared toward known repeat travelers into the market. This database, and the ensuing initiatives, produce returns well above a 10:1 benchmark and in some cases up to 40:1 ROI’s. We have an excellent track record in generating incremental and share shifting revenues out of our competitive sets by leveraging our brand.com websites as well as independent vanity sites as we see opportunities to enhance the hotel’s presence.

Our existing relationships, through our branded assets and our independent assets ensure very strong relationships with major on-line third party vendors including Expedia, Travelocity, Orbitz, Getaroom.com, Price and Hotwire. Our inventory in high usage markets, as well as non-branded affiliations in these markets, allows us to offer significant inventory and highly desirable margins, thus ensuring we’re able to leverage these relationships for better premium placement in our branded hotels.

Reservation Management via Branded Connectivity – A single portal that connects all reservations channels – GDS, Voice Call Centers, Hotel Websites and Online Travel Agents – our state of the art reservations system makes it easy to manage all rate products in one place.

Revenue Management Support – Every hotel is assigned a Revenue Account Manager. The team of experts works with TPG hotels to develop smart rate strategies to increase RevPAR through all distribution channels. All rates are loaded and checked by specialists.

Sales Presence – TPG provides sales support through nearly hundreds of dedicated sales professionals. Strong relationships in all market segments – leisure, corporate, and group – create substantial opportunities for our hotels. The group sales team concentrates on generating sales leads every month and the corporate sales team manages major negotiated corporate accounts worldwide.

Capturing the Corporate Market – All TPG hotels have access to the premier automated tools for maximizing the corporate RFP process. Through online member portal, hotels are provided with proprietary sales and contact data on hundreds of managed corporate accounts, travel agents and tour operators.

Travel Management Companies (TMC’s) – Brand-level partnerships with American Express Travel, BCD, HRG and Carlson Wagonlit create opportunities for TPG hotels including GDS biasing, joint marketing initiatives and TMC office access for sales calls.

Group Sales – TPG Hotels, Resorts & Marinas also maintains official partnerships with key corporate accounts placing groups and meeting business. These partnerships give the hotels access to planners and priority receipt of RFPs from these sought after organizations.

Targeted Marketing Services – TPG Hotels, Resorts & Marinas provides an array of marketing services, including annual global co-operative advertising programs, monthly brand e-newsletters and travel agent promotions. In addition, TPG hotels can take advantage of iTools, a suite of customizable solutions that range from rate shopping tools to market intelligence reports and targeted email campaigns.

Branding, PR and Publications – TPG Hotels, Resorts & Marinas leverages the global branding initiatives for all its brands because branded hotels consistently outperform their competitive set. To maximize awareness, custom brand directories are published annually and magazines published bi-annually. Comprehensive, easy-to-use brand websites are supported by search engine optimization and pay-per-click advertising. Monthly brand e-newsletters showcase news and offers to thousands of travelers. All brands are also supported by an annual global PR Plan.

Quality Assurance – TPG Hotels, Resorts & Marinas has developed a comprehensive quality standards checklist. The objective is to help improve product offering and customer satisfaction every day.

ACCOUNTING AND FINANCE

From the expertise and experience of the corporate and regional level, the properties are given oversight and direction in all accounting disciplines.

TPG uses the Uniform System of Accounts for the Lodging Industry 11th edition to establish standardized reporting formats and account classifications in the preparation and presentation of their financial statements.

TPG properties follow established company polices and reporting requirements. The policies and procedures ensure all revenues are captured and reported properly, payroll and expenses are kept within budget and forecast, and property assets are protected. Time and attendance is monitored daily to the established schedules. The Time and Attendance system limit punches to the associates’ schedule.

The system is enhanced with Biometric detection to limit only the employee to punch in or out. Labor schedules are based on forecasted revenues each week and are adjusted during the week if forecasted demand changes. Declining balance expense checkbooks are used to keep expenses from exceeded budget and forecast. An on-line purchasing program has been instituted which requires on-line approval by the Director of Finance and General Manager prior to the order being placed and the hotel has established purchase order limits. If these limits are exceeded, Regional and or Corporate approval is needed. TPG uses an extensive internal audit program provided by a third party to ensure TPG Policies and Procedures are adhered to.

TPG uses an internet based accounting software package that allows regional and corporate access to daily results as well as drill down capabilities of the monthly results. TPG currently requires forecasting of the remainder of the year at the beginning of each month, a mid-month forecast is completed updating the current month. If revenues are declining from the beginning of the month, expenses and labor expenditures are reduced. The current month forecast is again completed the third week of the month. The property adjusts expense as much as possible to offset any declines in revenues with the requirement being at least 50% flex to the revenue decline.

With access to hundreds of comparable hotels, TPG is able to benchmark hotels to analyze where there are cost reduction opportunities.

HUMAN RESOURCES

Being responsive to guests’ needs is a passion shared and nurtured by everyone at TPG. We support an entrepreneurial culture and empower associates and managers to make decisions that improve guest experiences.

We know that it’s the people of TPG Hotels, Resorts & Marinas that set us apart. We are proud of our ability to recruit, train and retain the industry’s best hospitality talent. From coast to coast, TPG-managed properties are recognized as great places to work and build long careers – and we’ve got employees that have been with us for decades to prove it. We strive to make employment with TPG Hotels, Resorts & Marinas rewarding, enriching and fulfilling and we aim to provide clear paths for professional development and growth.

TPG provides comprehensive human resource services for first-class hotel and resort properties throughout the country. As such, TPG is able to draw from locations within a reasonable proximity to most acquisitions to provide competent manpower experienced in the operation of upscale hotels. Manpower may be provided on a task-force, interim or permanent transfer basis. In addition, TPG employs seasoned Regional Directors and Area Managers in Sales, Operations, Revenue Management, Finance and Human Resources, providing expertise and oversight throughout the transition process.

TPG has successfully completed hotel acquisitions/transitions with as few as 25 employees, to multiple properties employing over 1,000. Utilizing the resources of Mercer Health & Benefits, leaders in benefits consulting and administration, TPG provides flexible benefit options to meet property-specific financial and employee needs. Company sponsored benefits include medical, dental, and group life insurance provided through nationally recognized carriers such as Blue Cross Blue Shield and CIGNA, as well as a 401(k) retirement plan administered by VOYA. Additional benefits include vision insurance, short and long-term disability, and supplemental life insurance. With national purchasing power and an aggressive approach to renewal negotiations, TPG strives to minimize premium rate increases. This allows TPG to offer a competitive benefits package while effectively containing benefit costs.

Corporate support is provided to hotels in all areas of human resources, including employee relations, legal and labor negotiations, compliance, benefits administration, recruitment and training. Corporate management personnel each have at least 20 years’ experience in hotel human resources, with backgrounds including independent hotels, hotel management companies, and all the major brands. A targeted focus on compliance, associate satisfaction through sound management practices, and accessibility to address employee concerns, enables TPG to resolve issues quickly and fairly.

PURCHASING

TPG has partnered our diverse portfolio of hotels with Supply Management, a leading provider of supply management resources in the hospitality industry. Our partnership maximizes its purchasing power of over $3 billion with over 3,000 hotels worldwide, and provides services to most hotel brands within North America and the Caribbean. Our partner provides an efficient large scale purchasing operation and resources reducing overhead. This creates value for our hotel owners and operators to gain a competitive advantage from supply markets by focusing on innovation, growth, value chain optimization, strategic cost management, risk management and supply continuity. In line with our own commitment, their fundamental principles are focused on quality, best price/value, convenience, integrity, and innovation.

TPG’s owned and managed hotels have complete access to global strategic sourcing, and regional purchasing supply management teams that focus on national / regional distribution and service programs that focus on Food & Beverage operations, Rooms FF&E/OS&E, Property Operations, Travel Management, Energy Management and more.

TPG also offers a state of the art e-commerce buying platform powered by a proprietary spend management solution. This web based purchasing system gives our hotels complete access to all leveraged manufacturer and distribution programs. Our properties source products, create custom catalogs, generate purchase orders, and route for funds authorization to ensure costs are effectively managed. This fully automated system consolidates line item detailed purchasing spend data which allow us to generate reports that identify areas of opportunity for developing new national leveraged buying programs or to strategically align with existing ones. TPG has over 650 system users and administrators utilizing Birch Street currently. The system helps reduce the risk, complexity and costs associated with managing spend.

Information Technology

TPG leverages its Information Technology systems by consolidating major components crucial to hotel operations where possible. We are constantly working to implement long-term, flexible solutions that allow multiple properties to utilize the same infrastructure. A centralized help desk for IT support and vendor management typically eliminates the need for any IT staff on property. By partnering with a National IT firm, TPG is able to dispatch engineers quickly in all areas of the country should the need for onsite support arise.

For the purposes of risk mitigation, TPG critical information technology systems are physically spread out geographically. Spreading these major components out across several geographic locations reduces the effect a physical disaster would have on TPG operations nationwide. TPG’s fully scalable IT platform allows for easy integration of new hotels and is positioned to accommodate the company’s expanding portfolio.