Hotel Management

Lucro Management offers full-service, comprehensive hotel management packages for owners who are looking for wrap around support and profit growth. To stay nimble and adaptive to client needs, we also offer a la carte management services based on owner/investor business objectives, budgets, and long term goals.

From facilities management to marketing, human resources to procurement, the following provides a list of the services Lucro offers.

Financial

  • Manage Accounts Payable entry, processing and payment
  • Oversight of Accounts Receivable
  • Oversee preparation of annual budgets
  • Monthly Profit and Loss reporting
  • Host monthly in-depth financial reviews
  • Develop capital expenditure plans
  • Review and/or develop all systems and processes, such as cash handling, loss prevention, key assignment and accessibility
  • Work with on-site teams to control expenses including contract management with service providers
  • Reconciliation and processing Sales Tax, Occupancy Tax, Use Tax

Revenue Management

  • Drive solutions to maximize revenues
  • Work with onsite leaders to manage rate structures in compliance with annual budgets
  • Oversight of weekly forecasting
  • Participate in revenue calls and strategy oversight
  • Utilization of STR to review revenue management strategies and adjust appropriately

Facilities Management

  • Provide recommendations in conjunction with brokers based on utility consumption
  • Maintain itemized list of building equipment including all mechanical equipment with initial diagnosis to include age of equipment, working condition, assumed life expectancy and warranty status
  • Preventative maintenance programs
  • Recommendations for short and long-term asset planning

Operations

  • Standard operating procedures and emergency procedures
  • Annual review of outlet pricing to ensure competitive market strategies and profitability including analysis of menu items, pricing, and inventory control measures.
  • Department scheduling to ensure maximum output through sustainable, formulaic processes
  • Compliance with brand standards
  • Working with on-site team to analyze guest satisfaction

Consulting/Contract Service

  • Consulting – for short term analysis of specific area with recommendations and assistance in implementation
  • Contract Services – ongoing services in areas such as financial services or revenue management

Human Resources

  • Work with on-site leaders for hiring/onboarding with focus on retention
  • Develop employee handbooks
  • Support management in positive HR solutions
  • Payroll support
  • Benefits oversight
  • Provide ongoing training opportunities for team
  • Guide onsite leaders in employee relations through objectives such as Lucro’s Shout-Out Program
  • Work with and support onsite leaders  with HR compliance to protect employees, managers and investment assets

Procurement / Capital Improvement

  • Branded Hotel PIPs
  • Competitive bidding on all projects prior to providing recommendations
  • Work with designers and contractors to ensure a successful renovation
  • Assistance in maintaining a reserve fund
  • Strategic Sourcing
  • Creation of extended capital improvement plans for short and long-term planning

Sales and Marketing

  • Review and assist with development and execution of annual marketing plan
  • Assist onsite teams with SMART goals
  • Work with onsite teams to establish relationships with local clients
  • Analyze competitive set
  • Systemize contracting process with clients
  • Analyze marketing dollar spend to track ROI
  • Monthly sales reporting and initiatives provided to ownership

Quality Assurance

  • Announced and unannounced visits with grading system to monitor expectations
  • Oversee brand standards requirements (if applicable)
(207) 240-3783

Lucro Management
P.O. Box 1286
Auburn, Maine 04211