The hospitality industry continues to find ways to maintain profitability as of some time ago. Many hotel owners and operators, particularly the rather smaller and individual ones, being anyway only a little wheel of the regional tourism network, have not reacted and/or are not in the position to the dramatic change of customer needs and requirements. The steady pressure on profitability, thus reducing cost, have brought often also a reduction of quality services and comfort for their customers. In certain regions we see a dramatic loss of hospitality providers, and many entrepreneurs battle alone against the loss of their business.
The rather small hotel units (up to 60 rooms) continue to face additional challenges such as lack of professional support, difficulty in finding well educated personnel (missing attractiveness and year-long job contracts), and changing the price system and type of marketing. The small hotels are seldom managed with numbers but much more on intuition and assumptions, and this is dangerous.
N.O.R.A. is the answer to give clear answers to these weak spots; it shall bring together individual hospitality providers to be part and make use of a structured, well defined organization.
The idea is that property owners in the hospitality industry will rely on N.O.R.A. expertise in the area of financials and services to increase the profitability of their property as well as refocus their business strategy. Choosing a third-party like N.O.R.A. is for sure one of the most important decisions a property owner will ever make.
Having passed a severe acceptance procedure, a N.O.R.A. unit (Hotel, B&B, boardinghouse, etc.) will become part of the N.O.R.A. network. For the financial aspects, the N.O.R.A. fund organization will manage the ownership (fully or partially ownership, with or without a predefined duration). Defined services and processes, guidelines and quality requirements are strictly assigned to a central N.O.R.A. Service unit; to the local hospitality provider remain a set of functions and standards that must be managed locally.
With this set of organization, a N.O.R.A. partner can focus on making business, having available a strong partner that handles a defined and evolving set of services centrally (e.g. marketing, book-keeping, personnel management), just as the big hotel players do. The N.O.R.A. partner can dedicate more time to the core activities like hospitality and well being services such as support and guest pampering, cleaning. Consequently, it will heavily change of how to manage the hotel.