All you need to know about hotel assets: smart management, types and essential tools
Hotel assets represent a key factor in the profitability and competitiveness of any establishment. Their correct management not only optimises resources and prolongs their useful life, but also guarantees an efficient operation that is aligned with business strategies.
This article provides a detailed overview of what hotel assets are, their types, their financial impact and how best to manage them with advanced technology.
Tangible assets
Real estate and land
Real estate is one of the most valuable assets in the hotel business. Its value depends on:
- Location and tourist demand.
- State of the infrastructure and age of the building.
- Possibility of extension and refurbishment to improve its value.
Hotels owned vs. leased
There are different models for holding real estate assets:
- Hotels in propertyThe hotel owns the property and has full control over its operation. It implies a higher initial investment, but higher profitability in the long term.
- Hotels for leaseThe hotel operates in a rented property, which reduces upfront costs, but limits the autonomy of asset management.
Valuation and depreciation of hotel real estate
All real estate assets are subject to depreciation due to wear and tear and age. For their management, it is essential:
- Apply accounting methods of depreciation.
- Schedule regular renewals to maintain their market value.
- Assess the impact of maintenance on operational profitability.
Furniture, equipment and machinery
These assets include:
- Furnishing of rooms and common areas.
- Kitchen and restaurant equipment.
- Operating machinery such as boilers, air-conditioning systems and laundry.
Management and maintenance of hotel furniture
To optimise the useful life of furniture and equipment, strategies should be implemented:
- Preventive maintenance: Scheduled inspection and review.
- Corrective maintenance: Repair of equipment when it malfunctions.
- Predictive maintenance: Use of sensors and software to anticipate technical problems.
Renovation and upgrading of equipment in hotels
Hotels must schedule the replacement and modernisation of their equipment from time to time to ensure a better guest experience and reduce costs due to operational failures.
Guest transport fleet and internal logistics
These assets require regular maintenance to ensure operational efficiency and avoid high repair costs.
Operating costs and vehicle depreciation
The correct management of hotel vehicles must be considered:
- Fuel, insurance and maintenance costs.
- Calculation of depreciation according to their useful life.
Intangible assets
Brand and reputation
A hotel with a strong brand and a positive reputation is more likely to attract guests and build customer loyalty.
Brand value in the hotel industry
Hotels with a well positioned brand identity can apply higher tariffs and build customer confidence.
Online and offline reputation management
It is key to constantly monitor the hotel's reputation in:
- Review platforms such as TripAdvisor or Google Reviews.
- Social networks and specialised forums.
- Ratings on OTAs (Booking, Expedia, etc.).
Patents and intellectual property
Some hotels have exclusive rights to business models, architectural designs or unique service experiences.
Registration and protection of hotel patents
Hotels can protect their innovations by:
- Registration of patents with intellectual property bodies.
- Exclusivity contracts for your differentiated products or services.
Franchise operating rights and licences
Many hotel chains operate under a franchising system, in which they the right to use the brand and business model is granted to third parties.
Software and management systems
Technological tools help optimise hotel operations and manage assets efficiently.
PMS and operational management software
Property Management Systems (PMS) allow to centralise the management of:
- Reservations and check-in/check-out.
- Inventory control and maintenance.
- Invoicing and financial analysis.
Technology integration in asset optimisation
The use of artificial intelligence, IoT and big data in hotel management can optimise operational efficiency and improve the customer experience.
Choosing the right PMS for hotel asset management
Asset management in a hotel is a complex process that requires comprehensive tracking of inventory, maintenance, operating costs and depreciation. A Property Management System (PMS) with advanced asset management functionalities allows automate these processesoptimising the hotel's operations and reducing unnecessary costs.
An efficient PMS not only centralises the information, but also provides real-time data that allow strategic decisions to be made based on the condition of the assets and their financial performance.
Why is a PMS key to hotel asset management?
Hotels manage a large volume of assets, from furniture and machinery to software and operating rights. Without an adequate technological tool, the management of these assets can become inefficient, generating economic losses due to:
- Lack of control over the condition and location of assets.
- Reactive rather than preventive maintenance, which increases repair costs.
- Losses due to lack of monitoring of asset depreciation.
- Lack of coordination between operations, maintenance and accounting departments.
A PMS with integrated asset management solves these problems by offering a centralised system that allows:
1. Digitisation and automation of processes to reduce errors and operational costs
Digitisation in hotel management eliminates the use of manual records, improving the efficiency of hotel management. data accuracy and reducing human error.
- Asset tracking automationEach asset has a digital record in the PMS, allowing access to its history, status and location in real time.
- Inventory optimisationPMS with asset management avoids unnecessary purchases and allows resources to be redeployed efficiently.
- Reduction of operating costsAutomation of tasks such as maintenance planning and reporting reduces manual workload and administrative costs.
2. Centralised control of all hotel assets
An advanced PMS allows you to manage all physical and intangible assets of the hotel from a single platform, integrating information about:
- Inventory of rooms and common areas (furniture, electrical appliances, decoration).
- Operational equipment (laundry, air conditioning, electrical systems).
- Technological systems (servers, management software, automation tools).
- Intangible assets (licences, patents, franchise rights).
With a centralised systemIn addition, maintenance, accounting and operations departments can access the same information in real time, avoiding inconsistencies and improving coordination.
3. Depreciation analysis and maintenance planning
One of the key aspects in asset management is the assessment of depreciation to determine when renewals or replacements are necessary. A PMS with asset control functions enables:
- Apply accounting methods of depreciation (straight line, declining balance, among others).
- Generate asset life reports to plan future investments.
- Determine the impact of depreciation on the hotel's profitability.
In addition, maintenance planning is optimised with maintenance planning tools:
- Preventive maintenance management: Scheduling of periodic checks to avoid unexpected failures.
- Predictive maintenanceIoT sensors and data analysis to anticipate faults before they occur.
- Corrective maintenanceDetailed record of repairs to assess costs and downtime.
Key features that a PMS must have to manage assets
For efficient asset management, a Hotel PMS must have specific functionalities to optimise operational processes.
1. Real-time inventory recording and control
An advanced PMS should allow keep detailed control of each assetregistering:
- Location of the asset (in which room, common area or storeroom it is located).
- Statement of assets (new, in use, under maintenance, decommissioned).
- Repair and maintenance history.
- Assigned person in charge (staff responsible for their management or supervision).
This prevents the loss of assets and allows them to be efficiently redeployed within the hotel.
2. Monitoring the condition and depreciation of assets
The financial control of assets is key to assessing its impact on the hotel's profitability. A PMS should allow:
- Monitor the depreciation of each asset according to established accounting criteria.
- Calculating the residual value of the assets and determine the optimal time for their replacement.
- Generate financial reports on asset investment and its impact on the hotel's ROI.
3. Preventive and corrective maintenance scheduling
A PMS must have advanced maintenance planning toolsincluding:
- Scheduled maintenance alerts: Allows to set review dates to avoid unexpected failures.
- Recording of incidents and repairsIntervention history for each asset, optimising decision making.
- Assignment of tasks to maintenance staffAutomation of work orders to improve operational efficiency.
LEAN Hotel System - PMS in the maintenance section.
4. Automated usage and lifetime alerts and reporting
In order to optimise asset management, a PMS should generate automatic reporting that allow:
- Identify assets with increased wear and tear or risk of failure.
- Calculate maintenance costs and their impact on profitability.
- Evaluate the return on investment (ROI) of each asset over time.