What is the control of fixed assets and their management in hotels?

Fixed assets in hotels and other industries

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Assets in hotels and other industries

When we talk about a fixed asset We refer to a long-lived tangible or intangible non-monetary resource that is held in an entity for the purpose of being used in the production of products or services and that is not sold in the normal period of an entity's activities but over a long period of time. term, but it is a set of assets that makes up the entire company, these are divided into two; tangible, those that are physical such as; machinery and equipment, real estate, industrial warehouses, furniture, office equipment, etc. And intangibles which are; trademarks, patents, licenses, software, copyrights, franchises, etc. 

In various industries such as hotels, pharmaceuticals, education, restaurants and food, among many others, fixed assets are the basis of the entire company and are held in larger quantities, which is why it is important to manage them so as not to lose them or is misused 

What are the fixed assets in hotels?

Consequently, hotel assets are assets owned by the company, some tangible and others intangible, among the most common we can mention;

  • Property
  • Equipment, Tools (according to AF management policies)
  • Furniture, Technological Equipment, Computer Equipment.
  • Transportation Equipment
  • Gadgets, Artwork

 

These tend to depreciate, that is to say, since the same asset was obtained to become the property of the hotel, the purchase value is no longer the same, it decreases with time, use, innovation, among other things, and depreciation is common in almost all existing assets, which is why it is very important to asset Management in order to know in detail the depreciation, value, location, responsible, etc. of each hotel asset. 

What are the different types of hotels?

For this classification we will take into account 3 variables; size, theme and guest needs.

    • Hotel resorts: This is a large real estate asset where entertainment services are also offered, where it is regularly all-inclusive just for the guest's relaxation.
    • Boutique hotel: In this type of property, decoration and comfort are very important and could be established as paramount, as well as the service it provides to the guest. Generally, it is made up of 10 to a maximum of 100 rooms to provide a personalized experience and attention. 
    • Large hotel chains: Very large buildings with a large number of rooms with the sole purpose of satisfying the central needs of a hotel, which are rest, hygiene, comfort and accommodation. 
    • Holiday or occasional hotels: Most are not luxury and only meet the need for rest and accommodation of temporary or one-time guests.
    • Small hotels: More homey and with a moderate or small property, many are considered hostels since they are primarily for travelers or families, with more moderate prices, without many luxuries. 

All of them are owners of fixed assets, and where luxury is offered, there are assets of great value such as works of art, furniture, technology, software, among other things that make their assets a great economic asset.  

High-value assets in the hotel sector

As we mentioned before, the works of art, furniture, paintings, equipment, furnishings, artistic photography, sculptures, and more objects that are part of the decoration of this type of property are, to a great extent, the most valuable fixed assets of a luxury hotel, for the purpose of a valuation, purchase sale, closing the hotel, a mortgage loan, as a guarantee or for an insurance policy, it is advisable to carry out a valuation to know the real value of each one of them and have a good management from them.

For a valuation of a work of art, aspects such as:

    • Antiquity 
    • museum exhibition 
    • Authenticity 
    • Period 
    • Author, school or movement to which he belongs or belonged  
    • Type of technique used for creation
    • Historicity, cultural/social value of the work 
    • uniqueness of the work 
    • Materials contained in the work 
    • State in which the work is located, if it is restored or original 
    • Critique from appraisers or industry experts 
    • If it can be revalued or, on the contrary, devalued

These are just some of the variables that are taken into account for the appraisal of these fixed assets owned by the hotel; the study must be carried out and endorsed by an expert on the subject based on an expert opinion.  

What is a hotel PSM?

A PSM (property management system) is a system or platform that allows the hotel sector to manage tasks such as: 

    • Bookings 
    • Check in or check out 
    • Assign rooms
    • Administration of room quotas
    • and billings 

Although with the passage of time the hotel industry not only needs these systems, because as it grows, expands and, consequently, the extension of the workforce, it is also necessary to correctly manage and supervise each of the hotel's assets, to there are systems like SAAF  that allows viewing through a monthly or annual payment platform from wherever you are with internet access and a device.

The location of the assets within the property, the person responsible for them, detailed reports, exits and entrances in the case of works of art, furniture and computer equipment, which for some reason need to leave the property for restoration, loans to employees for work purposes or some other issue, as well as knowing the depreciation rate of the assets registered on the platform, therefore avoiding money losses, asset losses, misuse, loss and help with decision making. 

SAAF not only helps with this but also gives the opportunity to use the plates and labels  that are used to label each asset and that, when scanned, the asset information appears on the SAAF platform by means of barcodes or QR codes, thereby making the display of information more agile and faster and guaranteeing the security of asset management permanent.  

Which popular industries have controllable fixed assets?

 

Every company has fixed assets, because as previously explained, an asset is equal to a good that is owned by the company, although there are sectors that have a greater amount of assets and that are the main thing for the operation and profitability of the company. as they are:

 

 

SECTORFIXED ASSETSS
schools Chairs, blackboards, books, benches, software, tables, computer equipment, property.
hospitalsMachinery, furniture, instruments, real estate and software.
RestaurantsChairs and all the furniture inside the building such as stoves, kitchen equipment and computer equipment or software.
PharmacyInventory, furniture, shelves, computer equipment and software.

 

 

ANEPSA is your ally for the management of fixed assets, contact us for more information.

 

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