Development-Conversions

 

I. Application

•Signature of LOI and approval of application.
III. KPIs and Road Map
  • Meeting with owning Company to establish resources needed and time frame.

  • Establishing and discussing expectations, concerns and criteria for success with owning company.

  • Presentation of a 12 month annual operating budget and CAPEX budget.

V. Monitoring
  • Monitoring performance of property against pre-established matrices, other hotels in Riyada portfolio and Saudi hospitality industry benchmarks.

  • Adjustments & corrections.

  • Monthly meetings with general manager.

  • Quarterly meetings with owning company to discuss KPI progress.

II. Site Visit 

  • Site visit to evaluate property and develop a property development report with key areas of improvement and modification.

  • This includes fire, life and safety, fluxes optimization, upgrades to FF&E, brand standards application, signage etc...

II. Technical Assistance

After singing the Management Agreement, meetings will be scheduled between WHG and   the Owner. 

 

IV. Implementation
  • Appointment of a general manager by Riyada Hotels.

 

  • Brand implementation.

VI. Support
  • Continuous support by Riyada Executive team to property's GM and Ex-com to deliver expected results.

  • Daily small improvements in property according to Kaizen principles.

  • Quality assurance, management training.