How do you manage the end date of a contract for hotels?

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How do you manage the end date of a contract for hotels?

Introduction

Managing contracts is not difficult at all. But it is incredibly important that you have a good grasp of the basics. Start with managing a contract at the end date. Unfortunately, this is precisely what often goes wrong in the hotel industry. That is why we have written an eBook that answers the following important questions: What is the importance of managing contracts by expiry date? Why do many hotel (chain)s fail? How can you manage contracts by end date?

Managing a contract by expiration date is important for the following reasons

- You want to know if a contract is active
- You can start renegotiations in time
- You can cancel unnecessary contracts in time
- You can renew useful contracts in a timely manner

Contract Management eBook: How do you manage the end date of a contract for hotels?

Notification Contract Management Excel Multiple locations Enddate Tacit renewal Cloud Contract Owner Negotiation Notice Period Contract Information Automatic Renewal Task owner Notification date Hotels

What is the importance of managing contracts by end date?

Why are hotels unable to manage a contract by end date?

Reading time: 5 minutes

eBook Content

What is this eBook about?

What is the importance of managing contracts by end date?

We won't mention names. But we know hotel (chain)s that lost hundreds of thousands of euros because they simply forgot to cancel a lease. A timely e-mail to the responsible manager could have easily prevented such a drama.

Why are hotels unable to manage a contract by end date?

Why do so many hotel (chain)s have problems with it?

They work with Outlook, Excel or other registration software. If you then examine those programs carefully, you will come to the conclusion that they are not made for managing contracts at all.

You can state the end date of a contract somewhere in a list, but then you need a lot of discipline to view that list on a regular basis.

Timely notifications

A timely e-mail to the responsible manager could have easily prevented a drama.

Use the correct software

Many hotel (chain)s mistakenly think that you can manage the end date of a contract by keeping a list in Excel or Outlook. But lists don't send notifications, quickly become outdated, can get lost and simply take too much time.

Contract Management Solution

That is why it is smart to find a Contract Management solution that sends a notification to the right person at the right time. This person must be able to access the contract information directly regardless of his location, which is why a cloud solution is recommended.