<![CDATA[Nova Asset Management - Nova Blog]]>Sat, 27 Dec 2025 09:36:39 +0700Weebly<![CDATA[[ get your hotels ready for life after Covid-19 ]]]>Mon, 11 May 2020 10:56:45 GMThttps://www.nova-am.com/nova-blog/recovery-plan
The uncertainty of COVID-19 makes it very difficult to plan. However, you will need a strategy for your re-opening. You should prepare an action plan for a variety of situations.

​We have put together 5 main strategies for hotel owners and/or operators to prepare for the re-opening.
Our recovery plan focuses on the strategies to get your hotel to be ready for boosting growth, refreshing the operating model, and regenerating your business once the pandemic is defeated and the market turns around. 
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This document will offer critical plans during the crisis for you to be prepared and get ready for the immediate and efficient recovery for the life after Covid-19 crisis. Start planning today!
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​Click here to download
]]><![CDATA[[ Five Things to Consider Before Using an International Brand to Manage Your Property ]]]>Sun, 12 Apr 2020 17:00:00 GMThttps://www.nova-am.com/nova-blog/five-things-to-consider-before-using-an-international-brand-to-manage-your-property
Thinking of running a hotel and considering having an international brand to manage your property? These are some things that you should consider before making that decision.
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]]><![CDATA[[ Good times, Bad times ]]]>Fri, 27 Mar 2020 11:48:49 GMThttps://www.nova-am.com/nova-blog/good-times-bad-times
Crisis times require doubling efforts, in order to keep the business afloat, but also to prepare for the business to return to normal within the shortest time frame. While revenue may not be the main focus anymore, a strong focus on protecting your bottom line is essential. Involve all your team member, and make sure you have an asset management team leading all initiatives. Here is a non-exhaustive list of actions to execute during this uncertain period of time:
Monitor the authorities’s announcement
  1. First & foremost, it is important to keep the management informed about the latest guideline provided by the government, other authorities.
  2. Does not base any strategic decision on some unverified sources.
Implement rigorous cleanliness & sanitation of all area
  1. Upgrade your cleaning product to hospital grade, for rooms, public area & back of the house.
  2. Provide hand sanitizer & hydroalcoholic gel dispensers in public area (entrance, lobby, reception desk, restaurant, bar, lift hall, etc…), and ensure regular replenishment
  3. Increase the cleaning frequency of high traffic zone like entrance doors, and lift panels
  4. Supply face masks to all your staff, and provide them proper guidelines on how to use face masks
  5. While managing your cashflow, ensure your stock of all the above is sufficient on monthly basis
Provide guideline to all employees in regard to hygiene and infection control
  1. Avoid contact with live animals, including poultry and birds, and consumption of raw and undercooked meats.
  2. Prevent sharing of food, cutlery, crockery, utensils, and other personal hygiene items.
  3. Maintain good personal hygiene, including handwashing with soap and water, or the use of alcohol-based hand rubs.
  4. Train the staff to increase their attention to the extreme cleanliness of public areas, high touch areas including the front desk. We highly recommend disinfecting surfaces between dealing with each guest. We suggest that focus is placed on cleaning high-use areas like tables in the lobby, pens at the front desk, room keys, key cards, remote controls, adapters, points of sale where guests touch or swipe cards, latches, buttons on elevators and handrails, amongst others.
Ensure diligent Employees & Visitor screening at the workplace.
  1. Establish proper admission protocol with regular temperature checks for all employees & guests
  2. Monitoring the good health of your workforce is paramount in pandemic crisis, lack of workforce could lead to more challenging situation
  3. Setup work from home or more flexible working hour to avoid rush hours in public transport for your employee when possible
  4. Deploy strict policies regarding past & future travel within your team, as well as for your guest arrival Provide
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Protect your bottom line
During crisis period, Hotel management team can spend hours working on endless action plan & various scenarios. Every Hotels are different, but many actions can be taken in all cases to secure the revenue & protect your profit. We have listed below some key best practices:
  1. Revenue Management/ Stand strong, and provide clear guideline in regards to pricing strategy. Avoid providing discount if the whole market is in low demand period, instead provide more flexibility in regard to your cancellation policies and offer reservations re-planning.
  2. Marketing & Communication/ Communicate to your guest the hygiene measure that have been implemented in order to provide your future guest peace of mind upon booking. And start planning for a recovery period with special promotions and communication campaigns.
  3. Finance/ Monitor the Hotel cashflow carefully on daily basis, and reforecast weekly your full year P&L. Inform General Manager & Owner on regular basis of potential concerns. Negotiate with suppliers for preferred payment terms if possible. Scrutinize the purchasing process. Monitor authorities & government announcement for eventual delay of tax payment.
  4. Costs Control/ Re-negotiate all the suppliers and maintenance contracts to reduce or reschedule the fees payment to adapt to the cash flow forecast and to avoid a lack of liquidity or payment defaults.
  5. Information Technology (IT)/ Backup data & keep all hardware updated. Re-negotiate monthly contract in case of hotel closure
  6. Rooms/ While hotel might increase the cleaning supply cost, you could also remove non-essential amenities & items from the rooms & bathrooms. Close buildings or floors in case of low occupancy, as it would contribute to energy saving costs.
  7. Human Resources/ Setup Crisis Management Committee involving key HOD with regular update on the situation. Engage all staff in cost saving planning, and adjust planning to be in line with your occupancy rate.
  8. Food & Beverage/ Reduce your par-stock to the minimum, manage your perishable food purchase to reduce waste. Close buffet to avoid food waste, and promote strongly room service menu, and adapt the menu to staffing level.
  9. Sports & Recreation/ Follow authorities’ announcement, and close swimming pool, gym & spa if advised to do so.
  10. Engineering & Maintenance/ Focus on energy saving activities, which shall lead to cost reductions (A/C closure, floor closure, unplug minibar etc etc).If you were planning renovation, and your treasury allows it, bring your plan forward while the occupancy is low.
  11. Security/ Do not compromise on your guest & your team security. Organize regular patrol of the property, secure supplies, and reduce the number of entry point if possible.​
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Conclusion
Each property is having its specificity, in terms of hardware, but also in term of software, therefore if you are in doubt, please contact us, and we shall offer you our services or some simple advices. It is unfortunately too often in this crisis moment that Hotel Owner realize the real value of their business.

While it is hard to anticipate when this crisis will end, and while nobody could have been prepared for such disruptive pandemic, it is important to learn some lessons from the current situation, and try to be better prepare for an eventual future outbreak.
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]]><![CDATA[[ Are Hotel Brand Standards Out of Touch with the Markets they Serve? ]]]>Sun, 17 Nov 2019 17:00:00 GMThttps://www.nova-am.com/nova-blog/are-hotel-brand-standards-out-of-touch-with-the-markets-they-serve
Brand standards for global companies like Marriott, Accor, 
​Hilton, IHG and Shangri-La, while necessary for ensuring brand and service integrity, might be proving to be one of the biggest challenges as these brands expand their footprint in new markets - especially in places like Asia and the Pacific.

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]]><![CDATA[[ NOVA to Open New Indonesian Office ]]]>Tue, 22 Oct 2019 03:42:16 GMThttps://www.nova-am.com/nova-blog/nova-to-open-new-indonesian-office
NOVA Asset Management has announced the opening of a new office in Jakarta, Indonesia to take advantage of the huge potential of the Indonesian market and to give Indonesian hotel owners and investors better access to the expertise that will help them achieve their intended goals.
​As ASEAN’s largest economy by far, and blessed with diverse geographical and cultural attractions, Indonesia is growing rapidly as a tourist destination and looks set to offer significant opportunities for investors.
Over the past five years, Indonesia has shown annual tourism growth of around 14%, with total numbers reaching 16 million arrivals for 2018. Around two thirds of those visitors head for Bali and Jakarta, which currently boast 550 and 350 ‘classified’ hotels, respectively. The rest of the country, including secondary destinations such as Yogyakarta, Bandung, Surabaya, Lombok and Batam, is likely to see increasing visitor numbers in the coming years, and the government is taking an active role in driving tourism.

One important plan which presents outstanding potential for hotel investors is the “10 New Bali” project, through which the government intends to develop ten currently underserved destinations to become attractions on a par with Bali. Among these, four have been prioritized for immediate action: Borobodur (Central Java), Mandalika (West Nusa Tenggara), Labuan Bajo (East Nusa Tenggara), and Lake Toba (Sumatra).
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Another key project which will invite significant hotel expansion is the plan to shift the nation’s capital to East Kalimantan, on Borneo. Development is expected to begin next year and will take at least ten years.
At this exciting time in Indonesia’s tourism journey, the opening of the Indonesian office will allow NOVA to better deliver its award-winning expertise to hotel owners in the region who wish to make the best decisions in offering the right product in the right location and therefore achieve the highest level of profitability. 
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Xaviar Droin (Managing Director - Indonesia)
NOVA is pleased to announce the appointment of Xavier Droin as Partner and Managing Director of NOVA Asset Management Indonesia.
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Most of Xavier’s experience has been gained with Accor in both Europe and Asia in a variety of executive roles. Prior to joining NOVA, Xavier served as COO at TAUZIA Hotel Management, where he developed his comprehensive understanding of the complexities of the Indonesian market, up until the acquisition of the group by The Ascott Group. Having also worked in Thailand, Malaysia, and Singapore, Xavier is familiar with the nuances of different hotel operational modes, including leases, management, and franchises. Furthermore, his management roles in major cities such as Jakarta, Bangkok, Paris and Singapore have also provided extensive knowledge of global distribution and revenue management.
​NOVA Asset Management is a regional hospitality consulting firm with offices in Bangkok, Jakarta & Singapore.
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NOVA has earned the fastest growing hospitality firm award again this year, and has been recognized as a unique player in the region, delivering a full scope of Owner Representation services, from feasibility studies, hotel operator selection, to full development management on behalf of its clients and partners. This expertise can benefit all kinds of projects from small boutique hotels to ultra-luxury mixed-use development, such as the new AMAN Nai Lert Bangkok, Hotel and Residences recently announced.
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It will be possible to learn more about NOVA Asset Management and the new Indonesian office at the upcoming HICAP Conference in Hong Kong on October 23-25.
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