Aggressive Growth Plan For Key West Inn Hotel Franchise

Finance Visor:

Key West Inns, a limited-service hotel chain with locations throughout the southeast U.S., recently announced plans to expand the chain by drastically modifying franchise agreements and royalty fees, adding support staff and lowering reservation fees. Highlights of the new plan include a new $1.00 per room per day flat royalty fee, a 12-month license agreement, revenue management support and low conversion costs. Details on the hotel franchise opportunity are available at keywestinn.net/franchise.htm.

‘We realized that in order to grow the chain, we needed to get innovative and aggressive. We added value to our services by increasing field staff and developing an aggressive revenue management program. With these mechanisms in place, not only are we able to provide additional real value benefits to our franchisees, but we can also beef up our ability to focus on our aggressive overall growth objectives,’ said Neal Jackson, President of Key West Inns, Inc.

Historically, the typical growth pattern for the chain of hotel and motel franchises has been through new construction. ‘We realized that for us to pick up our pace, we not only needed to provide a competitive and attractive franchise program, but we also needed to revisit our policy on accepting conversions. We now have a favorable program for conversions to the Key West Inns brand,’ said Jackson. Low entry fees, flat on-going royalty fees, annual exit windows and a reasonable PIP (Property Improvement Plan) policy will allow for an easy and affordable Key West Inn conversion.

Along with the financial benefits of the new program, comes the addition of the Franchisee Success Coach. Brian Robinson, the FSC, visits each Key West Inn a minimum of every 45 days and provides proactive support on revenue management, capital improvement, marketing strategies, and brand-specific front desk and housekeeping training programs. Site visits are less about inspections, and more about ensuring that the property has every resource to sell more rooms and to continuously and consistently satisfy the customer. In short, Key West Inns will uniquely focus on the success of every valued franchisee. It also provides franchisees….