About Useverything about PRM Hotel Group: We are a full service hotel operating company, currently owning and operating full service and select service hotels in the Southeast.
Premier Resorts & Management was founded in 1994 by its President, Mr. Ishwar Naran. The company is headquartered in Ormond Beach, Florida. Our portfolio of owned and managed hotels has grown and we are always looking for ways to smartly grow our business as opportunities are presented to us.
Our conservative investment philosophy combined with a commitment to excel in all facets of hospitality management is the backbone of our company. At present, the company is approved to operate hotels affiliated with Marriott, Intercontinental Hotel Group (IHG), Hilton Hotels, Choice Hotels and Best Western.
Our mission is to deliver superior financial returns and increase asset value to our owners and investors. We achieve this by exceeding guest expectations through operational excellence executed by our motivated local teams of managers and associates. We monitor and measure our revenue and profit performance, our guest and associate satisfaction and our RevPar growth compared to our competitive set.
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Our investment philosophy is simple and can be summed up in one word…conservatism. We believe in using conservative models and conservative judgment in order to produce the optimal ROI for ourselves and our investors.
Our management philosophy can also be summed up in a word…harmony. Optimizing returns requires a harmony and understanding of all facets of the hospitality business. These facets range from service, management, employee welfare and motivation, marketing, revenue management, cost control, finance, accounting, acquisition, to development. All these combined ensures a guest experience that is second to none.
Operational Excellence Model
Premier Resorts & Management operates its hotels according to our “Operational Excellence” model. This operational hotel management model is the basis for operating hotels profitably and successfully. This model is based on a balanced scorecard, with 4 quadrants:
This quadrant measures associate satisfaction, retention and turn-over metrics, as well as a number of other items relating to the performance and satisfaction of our hotel managers and their teams. We believe that high morale and satisfaction will lead to increased productivity and associate engagement in the process of operating successful and profitable hotels.
This quadrant deals with the company’s on-going desire to exceed our guests’ expectations at every stay at all hotels each day. This relentless pursuit of perfect guest satisfaction is measured by social media and brand sponsored guest satisfaction metrics. PRM prides itself on having many of its hotels either being the number 1 hotel in its market as published by TripAdvisor and operated all of its hotels above the brand benchmarks regarding overall service and guestroom cleanliness.
Revenues & Profits
This quadrant reviews the actual revenue and profit performance of each hotel against last year and budgeted numbers. We measure this on a daily basis to ensure we apply our flexible response capabilities to the operations of our hotels if and when adjustments are needed to preserve the bottom line. PRM has strict “flow” and “flex” requirements for managers to achieve.
The company pays special attention to the profitability of its food and beverage outlets at its full service hotels. Daily cost calculations are part of the comprehensive and all-inclusive management of these food and beverage departments.
RevPar growth compared to the competitive set
We pay special attention to the hotels’ STR performance to ensure that the hotel achieves its revenue potential, and has a positive RevPar growth compared to its competitors in the market.