One of the primary challenges that arises when sourcing hotel staff accommodation is attributed the lack of purpose-built supply in the market. Both the hotel owner and operator are expected to encounter an annual rise in rental prices in the following years due to the robust growth in demand for hotel staff accommodation.
TFG Asset Management’s Pre-opening Strategies whitepaper outlines four key factors which should be considered when selecting staff accommodation:
1) Proximity to the hotel is important in order to reduce commuting times and costs. Ultimately, this will adversely impact the pre- and post-hotel opening phases;
2) Rental prices;
3) Length of contract – a longer term is preferable;
4) Quality – the accommodation must be comfortable and provide basic facilities.
Hotel Staff accommodation plays a major role in ensuring employee satisfaction and encouraging motivation. A suitable product must provide fundamental facilities, infrastructure and recreational amenities. Hotel operators should offer amenities which will satisfy the employees’ quality of living and provide recreational activities during their leisure time.
TFG Asset Management Library
13/11/2017 - Our Portfolio UpdatesThe likely impact of VAT on the UAE hospitality sector
13/11/2017 - HospitalityTFGAM’s Mariano Faz speaks at Hotelier’s Great GM Debate 2017
12/11/2017 - EventTFGAM celebrates TRYP by Wyndham ribbon cutting ceremony
12/11/2017 - Our Portfolio UpdatesHAM's Role on Various Stages of Hotel Life Cycle
09/11/2017 - Featured Infographics