Some factors which will assist in determining how well your operation is performing:

• How is the operation performing against comparable operations and its direct competitors? 
  
  
• Is it achieving the appropriate support from the market at the appropriate average room rate? 

Whilst it is reasonably easy for an owner to determine the answers to these questions, it is important that there is a strategy to rectify any shortfalls or maximise the benefits during growth periods. Knowing what to do in times when the market is ‘soft’ and when it is ‘buoyant’ is a feature of what we do. We keep the Management Company honest. We can perform, , an in-depth Performance Review across all facets of the business. In our opinion, this should not be an annual event but will ideally be carried out on a quarterly basis, with a minimum frequency of every six months. This may reduce as confidence in the Management Company’s skill sets increases.

The findings from this Performance Review will provide valuable input for a budget review or business plan.