York
Brand: Best Western
Status: Operational
No. Beds: 99 beds
Address: Monk Bar, York, YO31 7JA
Acquisition and management of Monkbar Hotel, York (2006)
Located in an attractive position close to York Minster, the Monkbar Hotel was run by an independent hotel owner-operator. Reservation systems were manual, profitability was calculated at an aggregate hotel level only and limited capital investment had been made for many years.
Shiva identified the hotel as a strong investment opportunity with significant scope for operational improvement. In 2006, Shiva acquired the hotel. With the application of their market leading forecasting and budgeting systems, their existing preferred relationships with suppliers and management experience, the hotel saw an almost immediate uplift in profitability. The hotel operations were redesigned as independent profit centres (for example, ‘Food and Beverage’) aligned to the management structure and set individual targets. This introduced transparency as to where profit was being generated and the discipline and incentives to maximise this. Shiva also invested to modernise the hotel while maintaining its historic feel.
Given the resounding success to date, Shiva has submitted a planning consent to extend the hotel by a further 29 beds and additional, improved conferencing facilities.
Overview
The Best Western Monkbar Hotel combines character, convenience and service in the heart of York. Recently voted the European Tourism city of the year for its historical attractions, shopping and arts, and close to the breathtaking York Minster, the city sees high flows of visitors.
With 99 rooms, meeting facilities, and a full service restaurant, the hotel provides the perfect venue for wedding guests, corporate clients and families. Staff provide a personal service that keeps visitors returning year after year – so much so the hotel was recently awarded York's "Employer of the Year" Award!
